Skip to main content

What is the Nest Egg?

The Nest Egg is a savings vehicle that allows patients with a subscription using the Cirrus Dental platform to afford the care they need or want when they want it. 

Let’s face it, when patients need to come up with the money to pay for a surprise dental bill, many will try to avoid or delay the needed treatment. Studies have shown that patients with available funding sources receive more dental care in any given year. With that knowledge, Cirrus created the Nest Egg to be a part of the subscriptions dental offices offer to their patients.

The Nest Egg is set aside from the monthly subscription the patient pays every month. Unlike traditional insurance, if the patient doesn’t use the Nest Egg, the funds never expire and if the patient moves away and no longer has a subscription using the Cirrus platform, the money is refunded. 

There are no restrictions on using the Nest Egg for dental care. Unlike traditional dental insurance, there are no deductibles or percentages to confuse or prevent patients and offices from determining the best needed or wanted care. The Nest Egg can be used for whatever the patient wants. It can be used for fillings, extractions, crowns, implants, veneers, whitening, . . . 

The Nest Egg Bonus was created as a way to encourage patients to contribute to the Nest Egg. When an office creates a custom subscription they can elect to create a Nest Egg bonus in any amount or not. The idea is that it encourages a patient to set funds aside but limits the write-off associated with the bonus to only the amount in the Nest Egg. Depending upon the design of the subscription and the economics of the office, this may or may not be something that an individual office would offer.

Comments

Post a Comment

Popular posts from this blog

Investigate Dental Subscription Options - New Learning for the Dental Team

If your dental team is faced with downtime, you might consider having them learn about a new product or service that results in more patients and more income for the office. A dental subscription is a way to create recurring revenue for your office and create loyalty with your patients.  But what type of subscription is right for your office and what should you consider when setting up your subscription program? Who will administer the subscription?              Option 1 : Dental office does everything from designing the plan, crafting legal documents, contacting patients monthly for collections and renewals, maintaining financial records of transactions, maintaining renewal dates. Administering this plan is possible but requires significant startup costs, time and labor to administer.              Option 2 : Contract with a dental membership ad...
Post a Comment
Read more

The Economic Cost of a 30 Minute Prophy That Now Takes 45 Minutes.

If a 30 minute prophy now takes you 45 minutes have your fees been adjusted accordingly? If you have 50 percent less time in your schedule, how will you fill your schedule? If you are participating with insurance companies with unrealistic reimbursement rates what will happen to your income. Many practices have maintained the salaries of their staff which should equate to 25-30% of revenue. If you now have an effective 50% increase in staffing costs due to increased appointment times, are you able to absorb the difference? Do you want to consider a change? It may sound counter intuitive, in a time with so much that is unknown, do you want to drop an insurance company now? With an in-office subscription service you can begin to take control of your economic future by setting fees that reflect the current economic reality.  Many dentists are now dropping big dental insurance carriers. They still accept payment from these insurance companies, they have just changed their ...
Post a Comment
Read more

Fat Cat or Lean Machine

As we move forward with continual changes in the dental office, creating new efficiencies is necessary to improve costs for patients and increase profits for dental teams.    Dental insurance has played a critical roll in allowing individuals to seek preventive care over the years for a fixed monthly cost. However, over the years the insurance executives have become “fat cats” often retaining more than half of the premiums patients pay while decreasing the reimbursements to dental offices. The insurance executives advise dental offices to find more efficient ways of operating.   Dental memberships allow a more efficient way to operate, transforming the dental office into a lean machine and eliminating the high overhead associated with traditional insurance. The patient subscribes directly with the dentist, allowing for lower monthly costs while boosting the office income.   A membership program can also help you to escape the PPO trap, by offering your patients an al...
Post a Comment
Read more