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Procurement Market Intelligence Report

Group Dental Insurance
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Group Dental Insurance?

What is the average price of Group Dental Insurance?

This procurement report includes pricing information to help you purchase Group Dental Insurance. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Group Dental Insurance been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Group Dental Insurance yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Group Dental Insurance?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Group Dental Insurance with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

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Questions to ask potential suppliers

How can I gain leverage during negotiations?

Experience and Expertise

How long have you provided these products to your longest-tenured client?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

What industry do you most commonly supply this product for?

To what extent will ordering multiple products from your firm allow me to save on costs?

What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?

Supply Chain Risk

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

Has the availability of raw materials tightened due to the coronavirus outbreak?

Over the past three years, what percentage of your revenue has been dedicated to labor?

How have fluctuations in input prices affected the prices of your products during the past three years?

How do you mitigate sudden price increases in raw materials?

When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?

How, if at all, has your supply chain been affected by import tariffs levied in 2018?

Regulation

How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?

How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?

What ongoing training procedures do you provide for your staff?

Have you ever been found to be noncompliant with regulatory frameworks?

Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should request a detailed breakdown of insurers’ premium rates and deductibles.

Buyers should seek clarification on any other costs, such as administration fees.

Buyers can consult the pricing information in the Benchmark Price section of this report for help determining how much they should pay for dental insurance.

Selection Criteria

Buyers should assess an insurer based on the type and scope of benefits offered.

Buyers should take into account the out-of-pocket costs that employees will incur on a specific plan.

Buyers should evaluate the financial stability of an insurer.

Buyers should consider the customer service that an insurer offers.

Buyers should examine any coverage add-ons available from an insurer.

For a detailed outline of the key criteria buyers should consider when evaluating potential providers, see the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should state the date they expect coverage to begin.

Buyers should indicate the preferred contract length.

Buyers should provide a list of all important dates, such as bid submission deadlines, dates for interviews and when the award will be announced.

Evaluate major factors to mitigate risk

How risky is the supply chain?

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HIGH

MEDIUM

LOW