As part of Patient Plan Direct’s continued investment in its practice-branded dental plan solution, benefiting practices thanks to amazingly low plan administration fees, the plan provider has announced work is currently underway to launch a brand new and enhanced plan administration portal. The new online platform is being built with existing clients' feedback constantly in mind in order to offer an improved user experience and additional stats, data and information on plan performance at the click of a button.

The new platform will have a focus on embracing digital processes wherever possible, meaning that users will benefit from having less paperwork to deal with in their daily practice. Navigation will be simplified making usability even more intuitive to ensure that the portal is easily accessible for all staff members.

A dashboard area will provide a snapshot of insights into plan performance, providing users with an instant overview of the important facts that they need when it comes to their dental plan. Alongside this, there will also be handy 'to do' action lists with alerts in order to encourage optimum plan management.

Simon Reynolds, commercial director, commented: “At Patient Plan Direct, we are committed to maintaining our position as a highly cost-effective plan provider, keeping our plan administration fee as low as possible while also providing our clients with the tools and support to maximise plan income and profitability. This is why we are significantly investing in our online system for client practices, to ensure that they are receiving the highest-quality service at amazingly value.”

The new platform will be rolled out in early 2018. In the meantime, whether you already run a dental plan via another provider or you’re considering launching a dental plan, if you'd like more information about Patient Plan Direct’s practice-branded dental plan solution, boosting practice profitability, please visit www.patientplandirect.com, email This email address is being protected from spambots. You need JavaScript enabled to view it., or call 0844 848 6888.

Patient Plan Direct’s commercial director, Simon Reynolds, discusses key considerations in managing a patient membership plan ‘in-house’

Often the rationale for a DIY project is the perception that doing ‘it’ ourselves is likely to be lower cost and will enable us to achieve our desired outcomes in line with specific objectives. We adopt the mind set of “how hard can it be” and get to work.

In some instances, with the right planning and commitment a successful DIY project can be highly rewarding. However, in other cases we can be left to reflect on blood, sweat, tears and challenges that were far greater than we had anticipated. In hindsight, perhaps it may have been a better option to have turned to professional support in the first instance.

When it comes to patient membership and capitation plans many practices may have considered, or have already adopted, administering their own patient plans ‘in-house’. Let’s face it, when stripping back to its bare bones the work involved in administering a patient plan, it isn’t rocket science. The basics being; determining the care and benefits included in your plans, setting plan prices, collecting regular payments from patients and promoting your plans effectively to encourage uptake from patients.

However, as with many things in life the devil can often be in the detail and there are important considerations that may be overlooked when opting to administer a patient plan in-house rather than the outsourced option of working with a plan provider.

Direct debit vs. Standing order

Often mistaken as the same thing, there are significant differences between standing order and direct debit payments – the most likely means of managing regular plan payments. A standing order is an instruction set up by the payer i.e. your patient via their bank, which can limit the ease of patients joining your plan in practice. If a patient cancels their standing order you will not be notified, instead you’ll have to perform manual checks every month. Moreover, managing periodic plan price increases can prove somewhat challenging as a change to the value of a standing order requires each patient to amend their individual standing orders – a tedious task for patients that is not under your practice’s control.

Managing plan payments by direct debit on the other hand offers the beneficiary (your practice) greater control. This is an instruction by the payer giving permission for your practice to collect a regular amount, which can be amended with advance notification to the payer. However, obtaining sponsorship in to the direct debit scheme via your bank can be a lengthy process and thereafter you’ll have to utilise some form of Bacs approved platform to manage collections. This can prove complicated and costly in addition to the processing charges your bank is likely to apply.

Admin: Time versus Real cost

Time is money. Often the reality of managing a patient plan in-house can be more administratively demanding and time consuming than you may think. Preparing and submitting collection files, identifying payment cancelations, managing plan related communications to patients, creating promotional material, training your team in promoting your plans and so much more can be a real bind on your time. No matter who takes on the role of managing an ‘in-house’ plan, there’s every chance this time could be better spent elsewhere in delivering first-class care and building a successful practice.

When you come to sell your practice

In consideration of the complexities that can be involved in managing a plan in-house, when you come to sell your practice potential buyers may be put off. Moreover, in some instances if you have your own sponsorship in to the direct debit scheme, it is not a given that the new vendor will be able to obtain their own sponsorship via their bank to take on the goodwill of plan patients. Finally, historical records of plan collections via a third party can prove more favourable throughout any due diligence processes.

In summary

For some practices, managing their patient plans in-house may be the most effective means of offering patients a plan. However, for many, utilising the services of a trusted plan provider is much more likely to be the more time and cost efficient method. Working with a plan provider does not have to mean huge administration costs and overhead. There are more plan providers than ever before to choose from, each offering their unique service proposition, support and fee structure. It is simply a case of taking the time to discover each provider and working out which is the best fit for your practice.

Patient Plan Direct is a membership plan provider recognised for its low-cost admin fees and is also the winner of the 2016 Dental industry awards – Outstanding Business of the year (under 25 employees). Plan launch, Provider transfer and NHS conversion experts.

www.patientplandirect.co.uk

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08448486888

Patient Plan Direct has been awarded Outstanding Business of the Year (under 25 employees) at the 2016 Dental Industry awards, hosted at the Royal Garden Hotel in Kennington earlier this month.

A judging panel of leading industry clinicians and figures, chaired by Dr David Houston, selected patient payment plan provider – Patient Plan Direct, as the winning company from a wide array of entrants.

The judging panel, which included; Julian English, James Goolnik, Peter Rees, Chris Orr and others, selected Patient Plan Direct as the company that demonstrated, throughout 2016, the strongest development, growth, competitive edge, staff loyalty, culture and first-class service.

Pictured Above:- Simon Reynolds and the team at PPD receiving the award for Outstanding Business of the Year

Simon Reynolds, commercial director of Patient Plan Direct, commented “We have worked hard throughout 2016, expanding our team and further enhancing our patient payment plan solution whilst maintaining our low-cost fee structure – enabling practices to retain more of their payment plan income.

“Cost management is an important focus for many dental practices in consideration of uncertainty surrounding Brexit and the rising costs associated with running a modern day dental practice. As a low-cost plan provider, PPD meets this market demand and ensures we have a strong competitive edge, whilst other providers are pressured to justify the value of their fees. 

“I’d like to extend my congratulations to the rest of the dental industry award finalists and winners, as well as a big thank you to all of the Patient Plan Direct team for their hard work and commitment as we look towards a highly successful 2017.”

Patient Plan Direct is a highly cost effective dental plan provider embracing 21st century web-based technology to offer a sophisticated solution to running practice-branded dental plans.

Thanks to an administration fee of £1.20 per patient per month (including A&E cover and VAT), Patient Plan Direct often proves to be 2-3 times more cost effective than working with other plan providers.

A highly-experienced team has helped over 400 practices nationwide either; launch a dental plan for the first time, utilise a plan to convert from NHS to Private, or transfer from another plan provider to make huge cost savings!

Web: www.patientplandirect.co.uk

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Tel: 0844 848 6888

Midlands based Theresa Riley has joined cost effective and technology embracing dental payment plan provider – Patient Plan Direct, heading up the company’s business development support in the Midlands. Theresa brings to Patient Plan Direct a huge amount of experience in nurturing practice’s private growth and the implementation and development of private dental plans.

Following an initial career in dental nursing, dental radiography and teaching, Theresa moved into dental corporate management and quickly advanced up the career ladder to run the specialist department within one of the UK’s largest dental corporates. Thereafter, Theresa has held several senior management and business consultancy roles, recently consulting on the design and implementation of a dental plan administration solution, thereafter introducing the plan solution at several practices either converting from NHS to Private or switching their plans from another plan provider.

With regards to her new role, Theresa commented; “I wanted to further expand my knowledge and work within the plan sector, but due to my previous consulting work it just wasn’t possible, so when the opportunity came along to join Patient Plan Direct, the company, role and team seemed the perfect fit. I can’t wait to get started”.

Simon Reynolds, commercial director of Patient Plan Direct explains; “As we continue to evolve and build on our strong reputation as a low cost plan provider offering first-class support, Theresa brings to the mix an unrivalled level of experience and knowledge. Theresa’s skills set will benefit the practices we already work with in further developing and growing their respective dental plans, as well as new practices not already working with Patient Plan Direct who wish to take advantage of maximising the profitability of a dental plan at their practice.”

Theresa added; “I was attracted to joining the Patient Plan Direct team after taking the time to understand more about their service proposition and technology. Patient Plan Direct’s streamlined, practice branded and web based approach to dental plan administration along with the support and advice that is delivered for £1 per patient per month is the right fit for so many practices both clinically, financially and operationally.

“I’m really looking forward to meeting Patient Plan Direct’s existing clients and seeing how I can help them grow their plan patient base further as well as connecting to new clients to see how our solution can benefit their practice whatever their objective; transferring from another plan provider to make significant cost savings, launching a plan for the first time or making a move away from the NHS.”

Patient Plan Direct is a highly cost effective dental plan provider working with over 300 practices nationwide, embracing 21st century web-based technology to offer a sophisticated solution to running practice-branded dental plans. Thanks to an administration fee of £1.00 per patient per month (including worldwide dental A&E cover and VAT), Patient Plan Direct often proves to be 2-3 times more cost effective than working with other plan providers.

Web: www.patientplandirect.co.uk

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Tel: 08448486888

Dental plan provider Patient Plan Direct has partnered with Chrysalis Finance to promote a solution to offering patient finance that is quick, simple, low cost, sophisticated and unique.

Plan provider Patient Plan Direct and Chrysalis Finance have joined forces to market their respective services to the dental community. Both companies share the same ethos of embracing technology, making life simple for dental practices and ensuring a practice can maximise the profitability of the dentistry they deliver.

Chrysalis Finance recently launched their unique approach to offering patient finance that takes away the head ache and requirement of a practice obtaining a consumer credit licence directly with the Financial Conduct Authority (FCA).

As Chrysalis Finance is authorised with full permission as a principal firm by the Financial Conduct Authority, a dental practice is able to become an appointed representative of Chrysalis Finance, as such taking away any regulation, risk or authorisation responsibilities for a practice.

This is a new genuine forward step within the industry and Chrysalis Finance is the first finance company to offer this service to dental practices, enabling them to focus on growing their business and not yet more compliance and regulation.

This unique approach is made even more attractive thanks to the super quick and simple set up, unbeatable subsidy rates, first-class dedicated support, payments made quicker than any other finance provider and some of the best acceptance rates in the market.

Simon Reynolds, commercial director of Patient Plan Direct, explained; “We are very pleased to be announcing our partnership with Chrysalis Finance. We identified demand from the practices we work with for access to a first-class and simple patient finance facility that attracts low subsidy rates, enabling a practice to maximise the income they retain when providing treatment through finance.

“This is exactly what Chrysalis Finance is able to deliver, which is made even better because of their unique authorisation with the FCA taking away the head ache of a practice needing to obtain and pay for their own licencing.”

Chris Baldwin, Head of Sales at Chrysalis Finance, added; “Our unique approach to enabling a practice to offer patient finance quickly, simply and at low cost mirrors Patient Plan Direct’s approach to enabling a practice to run and develop a successful patient dental plan. As such, a partnership was a very obvious strategy and we look forward to supporting each other in helping more practices throughout the UK.”

Chrysalis Finance specialises in dentistry finance and is the only provider requiring a practice not to be licensed directly with the FCA. Chrysalis Finance manages any risk and compliance on a practices behalf along with the best funding rates and options available in the market. 

www.chrysalisfinance.com

Patient Plan Direct provides an easy to use, highly efficient and very cost effective method of enabling practices to offer patients a dental plan. Patient Plan Direct’s unique approach embraces 21st century technology, gives a practice control and is proven to improve plan income and profitability.

www.patientplandirect.com

GDPUK took the time to interview Simon Reynolds – Commercial Director of Patient Plan Direct, one of the UK’s fastest growing and most cost effective plan providers, as well as a GDPUK partner.

In the past six months more practices than ever before have opted to work with Patient Plan Direct, either launching a new plan for the first time or transferring an existing base of plan patients from another plan provider. Jonny Jacobs of GDPUK took the time to find out more about Patient Plan Direct’s success:

Jonny GDPUK: Please give us a brief background to how you ended up working in the dental industry?

Simon: “Following my studies in the North West I stuck around the Manchester area and joined Patient Plan Direct’s parent company, First Capital Cashflow, as a business development associate working with both the sales and marketing teams.

“I eventually focused on the marketing side of things and after undertaking a diploma in digital marketing, took up the role of marketing manager at Patient Plan Direct, going on to progress through to my current role as commercial director – managing the business development and marketing teams. I have been involved with Patient Plan Direct for almost five years now, in which time the company has significantly evolved and grown year on year.”

Jonny GDPUK: For those that don’t know of Patient Plan Direct, can you give us a brief potted history?

Simon: “Patient Plan Direct is a dental plan provider similar to the likes of Denplan, Practice Plan and DPAS. The company was formed in 2008 as a subsidiary of our parent company First Capital Cashflow – a long established payments bureau providing payments related services and technology.

“We have embraced technology, cut out a lot of unnecessary paper based administration and benefited from the economies of scale and efficiencies nurtured from our parent company, thus cutting a lot of our own cost bases – resulting in lower fees for our clients!

“Since our inception we’ve sustained our low cost, flat and transparent fee structure of £1 per patient per month (inclusive of VAT and patient Worldwide A&E cover underwritten by Hiscox) whilst other plan providers have marginally increased their administration fees each year.

“Since the company formed, our team has grown and our service delivery and support has evolved in line with market demands. We now work with over 300 practices across the breadth of the UK, helping them to develop, grow and retain a solid base of plan patients.”

Jonny GDPUK: How does Patient Plan Direct differ to other plan providers?

Simon: “Our core proposition is our low cost fee structure, enabling a dental practice to maximise the income and profitability a dental plan generates. It is our ethos to maintain this position in the market, at the same time ensuring we provide first-class training alongside business and marketing support to ensure we can help a practice reach its objectives.

“Our fee structure can easily prove to be 2-3 times more cost effective than other plan providers, enabling a practice with even a modest base of plan patients to easily make significant cost savings year on year in comparison to working with other plan providers. Moreover, we’re very focused on flexibility and branding, offering a fully practice branded solution with the freedom for a practice to determine their own plan offering, structure and price point.

There may be some misconceptions that our service is a no frills / vanilla option when it comes to dental plan administration. However, on the contrary, whilst we don’t offer support in other areas such as CQC guidance, hold annual golf days, invite ‘key’ clients to trips abroad, or hand out ice creams at dental shows, we do invest in our team, processes, technology and support whilst keeping our costs to a minimum and passing these savings on to the many happy practices that work with us."

Jonny GDPUK: What trends are you seeing in the payment plans market?

Simon: “The biggest trend I have noticed for some time now is the lack of appetite from practitioners to either introduce or continue to grow an existing capitation based plan such as Denplan Care. There are so many reasons this is the case, which I could talk about separately for hours on end.  We have worked with many practices that have transferred from another plan provider and opted to put a cap on their capitation plans (only keeping existing capitation patients on this type of plan), opting to only promote and grow a maintenance based plan moving forward.

“The other noticeable trend is the increase in principal dentists making the switch to private dentistry and using a dental plan as a vehicle to make the transition, enabling their patients to budget with a monthly payment to see their preferred dentist. Of course this is all in line with not keeping all their eggs in one basket in light of the uncertainty around the future of the NHS. My team and I relish the opportunity to get involved in this type of plan launch, delving into the viability analysis and financial modelling to identify and recommend the best strategy for the principal, practice and patients.

“Finally, we’ve worked with a number of practices recently that have decided not to take on a plan provider transfer for a number of reasons, but instead have opted to run a new plan administered by Patient Plan Direct alongside their existing plan, taking advantage of cost savings in admin fees  for new patients joining the practice’s plan.”

Jonny GDPUK: How long have you been aware of GDPUK? Why do you think it works so well?

Simon: “I have been aware of GDPUK for as long as I’ve been involved in dentistry. It’s the place I usually hear about the latest news and opinion. As such, I visit the site daily to keep up to speed on what’s new in the world of dentistry.  With all the challenges that the dental profession faces these days (many of which are well documented and discussed within GDPUK), it’s so important there is a place where dental professionals can freely express opinion, discuss ideas and offer each other advice, feedback and moral support.

“Every credit to yourself and Tony for keeping the forum running for what is now coming up to 20 years! Long may it continue.”

Jonny GDPUK: As an advertiser on the site, have you found the site a good place to gain business?

Simon: “Without doubt the site has helped raise our brand awareness and helped us extend our message to market, educating the industry on our service proposition. We have had plenty of new enquiries and new clients that initially explained “we saw you on GDPUK”.

“I see the forum as very well respected and trusted amongst the industry; as such it’s a fantastic site to attach our brand to.”

As a private plan provider, how do you see the future of NHS dentistry panning out?

Simon: “Now we have the general election out of the way and details of the prototype dental contracts are becoming a hot topic of discussion, I think it’s safe to say that irrespective of what the new contract eventually looks like, employment under the NHS is not likely to provide greater income for less graft and a stress free life. As such, I’m pretty certain the NHS won't be for everyone and as there was in 2006 there will be a noticeable shift in the number making the move to practicing privately – a process which has already begun.

“Clearly if a dentist or practice is considering the switch from NHS to private, the introduction of a dental plan is a very obvious and proven strategy to achieve the move successfully and retain happy patients.”

Contact Details for Simon:

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Tel: 08448486888

Mob: 075407063232

Web: www.patientplandirect.co.uk

Web: www.firstcapitalcashflow.com

Twitter: @PatientPlan