When setting up a dental membership plan, it’s crucial to avoid simply swapping one form of corporate control – dental insurance companies – for another, such as a membership plan owned and operated by a corporate entity that essentially controls your network through its software. The key question here is: who holds the reins over your network?
Consider the following:
- Can you easily export your patient list and switch to a different software provider?
- Do you have full ownership of your membership plan’s name?
- Are patients making payments directly to your office or to the software company?
- How steep are the costs associated with switching your patient list to another platform?
The first step is to establish ownership over your patient network so that transitioning between software providers is seamless.
The second step involves collaborating with other users of the same software to build a larger, more robust network where benefits are shared among participants.
Why consider Wellmint if it seems to mimic a centralized corporate structure? The answer lies in recognizing the inherent value of networks, but with a twist: the aim should be to distribute this newfound value among active participants. Networks essentially comprise connections between individuals or entities. According to Metcalfe’s Law, the value of a network increases exponentially with the square of the number of its nodes. Therefore, why not foster connections and distribute this value across the community of software users?
While you may own your own isolated network as an individual user, provided you’re using software that allows for it, there’s immense potential in connecting with other users to form a larger, decentralized network. As Metcalfe’s Law suggests, this can lead to rapid, exponential growth in value.
In essence, the goal is not to merely switch from one corporate-controlled network to another, but to establish ownership over your patient network and collaborate with other users to build a decentralized, mutually beneficial ecosystem. By doing so, you unlock the true potential of network effects and ensure that the benefits are shared among all participants.
