AE July/August 2018 Vol 27 No 4 - 40

SPECIALTY PRACTICE // OPTICAL

VISION PLAN TIPS

FOR SPECTACLE LENS PRICING
Donna Suter

A

re vision plans a profitable
way of attracting patients
and increasing net? Judging based on anecdotal
comments is not advisable.
Look at business pros and
cons and then decide.

VISION PLANS ARE A LOSS
LEADER
Business experts view well-eye
(glasses and exam) plans as "loss
leaders": goods or services offered
at significant discounts (sometimes
below cost) to attract customers and
promote sales. It is a time-honored
pricing tactic, and has met with
much success. The intent is to entice
the customer to buy the loss leader
and other products not discounted.
Loss leader pricing is one of many
measures that retail establishments
use to increase in-store traffic and,
ultimately, financial well-being.1,2 

40

AE // July/Aug 18

HOW TO INCREASE
PROFITABILITY
A carefully curated strategy to
boost patient volume by partnering with vision plans can lead to
more profit.
Which plans? Determine your
most profitable spectacle lenses and
frames and project usage. Historically, have patients now using this
vision plan also used profitable
medical and surgical services? To
find out, monitor costs.
WHEN PROFITABILITY
DECREASES
Net loss is often linked to office
procedures and training that are
roadblocks to profit. Often there is
no optical sales training at all. Lackluster net happens when patients
"cherry-pick"-i.e., purchase only
products that are priced near or
below acquisition cost.

Patients haven't changed just
because vision plans are available.
They want value. When patients do
not use premium services or optical
goods that have an attractive profit,
the business reason undergirding
offering a loss leader isn't met.
WHAT TO DO ABOUT CHERRY
PICKERS
Optical cherry-pickers ask for just
what insurance covers. My experience, as well as industry research,
suggests that from 30-50% of these
patients will purchase a premium
product when it solves a problem or
meets a need.
IMPLEMENTING LIFESTYLE
DISPENSING PROCEDURES
Need is reinforced by asking
lifestyle questions and educating patients about how spectacle lens technology solves the



Table of Contents for the Digital Edition of AE July/August 2018 Vol 27 No 4

AE July/August 2018 Vol 27 No 4 - Cover1
AE July/August 2018 Vol 27 No 4 - Cover2
AE July/August 2018 Vol 27 No 4 - 1
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