Dental Membership Growth Will Come Differently. Are You Prepared?
The percentage of Americans with public or commercial dental insurance grew by almost 50% over the past decade, up from 57% of the population in 2010 to just shy of 80% in 2020*. That sharp increase in participation helped to drive strong membership growth among carriers and third-party administrators. As organic growth slows, membership growth over the next decade will come differently. Are you prepared for this change?
Three Quick Ideas for How Dental Companies Should Prepare:
1) Differentiate. Create a digital first and tech forward approach. Showcase a value proposition that employers and their members really value and can’t live without. Be an innovation leader in plan design and administration approach for servicing employers, brokers, members, and providers.
2) Build win-win partnerships with brokers. Give your brokers a reason to promote and sell your plans (not just price). Provide brokers with services or a uniqueness that gives them a competitive edge. If they retain or win new clients offering your plans, they will sell you more.
3) Keep it simple and get it right the first time. When onboarding, enrolling, or paying claims make the process simple, efficient, and enjoyable.
Strategic Dental is ready to work with you and your teams to help identify new strategies for continued membership growth in a maturing marketplace. Contact Us today or visit Strategic Dental to learn more!
*2021 NADP Dental Benefits Report: Enrollment (December 2021)
