The historical “End of Year Letter”
The historical “End of Year Letter” – tap into the potential of unused insurance benefits
As you gear up for Q4 and wrap up another year of practice ownership there are a variety of tasks to button up as well as opportunities to capitalize on. One opportunity worth noting is touching base with your patients regarding their unused insurance benefits. If an insurance benefit plan runs on a traditional calendar year (most popular), benefits need to be used prior to December 31st. If their plan renews mid-year, the benefits will need to be utilized in a different time frame that is outside your traditional “end of year letter” efforts.
3 steps to capitalize on unused insurance benefits in your dental practice:
1. Electronic communication.
Utilize your patient communication software to its fullest potential. Set up a custom email campaign that will remind patients based on their specific insurance plans “year-end”. Consistency is key which includes 2-3 reminders prior to the date benefits expire.
2. Go paper.
Naturally, a portion of the patient base will not have email addresses on file, so now what? Hopefully this portion does not exceed 15% of the patient base. Retrieve a list of patients via your patient communication or practice management software who have insurance and do not have an email address on file. Send a creative post-card or letter via snail mail as a courtesy. Expensive? One scheduled appointment will pay for these efforts not to mention you can rest your head at night knowing you exhausted all efforts. Check with your printing company or patient communication vendor for help in delivery options.
3. Internal marketing efforts.
Statements. Take this time to throw in a customized line on your e-statements or invest in marketing inserts for sign, sealed and delivered ones.
Signage. Keep it classy, keep it simple. Framed signage regarding unused insurance benefits, ads rolling on your waiting room/ operatory flat screens or if you are fancy…on your digital sign outside.
Spread the word. Prep for the morning huddle and set the day with intention by identifying patients who have unscheduled treatment. Take it a step further and identify when their benefits expire. Anticipating the needs of your patients and being intentional with each interaction will result in a healthier version of them and a productive schedule for you.
Ideal time of year to complete: September-October
Contact us today for a complimentary unused insurance benefit template!
hello@dentalconsultingco.com
About the Author // Shannon Snell
As a Dental Hygienist practicing in over 40 offices early in my career I identified a need for smooth practice operations that stemmed from employee engagement, patient care and effective leadership. After 10 years in the industry practicing as Dental Hygienist, managing a highly productive private practice, consulting with various local firms, and running one of the most successful professional staffing and recruiting companies in Minnesota I identified the dire need of a local resource to help Dentists own their practice, time and future.