Payment plan specialist blames insurance regulation

Despite only launching in the Republic of Ireland in August 2010, Denplan have announce that they are withdrawing its presence in the region.

The payment plan specialists said that it had been working with a range of member dentists over the last 19 months with a view to increasing the level of support it can offer both dental professionals and their patients, in the wake of the government’s decision to remove state-funded dental provision and reduce the Medical Card provision to children and exempt patients.

The company, which is the leading plan provider in the UK with 6,500 member denists and 1.8 million registered patients, said that ongoing interest by the insurance regulators in the region had necessitated a growing investment in legal services to explain its product design and cover. This, in turn, made the market financially inviable.

Denplan’s Managing Director, Steve Gates, commented: “We’re disappointed to be withdrawing from the Republic of Ireland, but I would personally like to thank all of our contacts in the area for the support and business they placed with Denplan and wish them every success in the future.

“This decision in no way affects our substantial presence in Northern Ireland, which still offers strong opportunities for growth over the coming years. I would also like to reiterate that there will be no job losses as a result of this decision.”

The company closed to new business as of 1 April 2012 and will not renew existing business – some 120 patients – beyond 31 December 2012. The withdrawal from Ireland will not affect Denplan’s presence in Northern Ireland.