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What’s with all the buzz about package pricing?

06/24/2019

If you have not already done so, embrace package pricing. It brings simplicity and potential for additional revenues.

Consumers today demand that they know prices up front. This transparency is the bait that the big-box, discount and online retailers use to lure in customers.  

That is not to say that you need to match the corporate retailers’ prices; our customers do not necessarily expect to get away with ‘two pair for $59’, but they do like knowing what that starting point is. You can assemble a basic value package consisting of a frame, SV lenses and a basic AR coating for $179-$199. Your comprehensive package may not have to compete on the dollar amount, but you do need to be able to compete with the transparency; your patient will appreciate knowing what to expect.

Use what you already know.  It makes sense to limit the lenses you sell for basic, upgraded and premium lenses, since you want to control your costs. If you look at your sales data, you will probably find that you have two or three go-to products you use frequently. Build your packages around these lenses that you already favor. You will also no longer “start” with a lens that does not offer anti-reflective lenses, which is almost universally considered a minimum requirement.

Be aware of new products and pricing.  Always be asking your lab rep about possible lower cost options that will continue to deliver the high quality you expect.

Bundles make perfect sense. You will pair a basic lens with a basic AR, a moderate lens with an upgraded AR and a premium lens design with a premium AR. Within these categories, the optician will still have the latitude to order the brand that is most appropriate for the patient. This is much easier than quoting for lenses, then adding this feature or that treatment.

Critical components.  Your optical staff will need to become knowledgeable about the packages and their pricing, as well as becoming comfortable with quoting the package price, the patient’s vision care plan discount and the patient’s co-pay, thereby demonstrating the savings realized by your customer.  Initial and ongoing education will be critical to success in this arena. Roleplaying exercises will help every staff member become more comfortable if this is a new concept in your office.

Have fun branding your packages. Instead of Good, Better, Best try something that is in keeping with your overall marketing strategy. Glimmer, Glitter, Shine. Ascend, Achieve, Attain. Have a contest among the staff with a prize for the most imaginative names.

As with almost anything new, it is only awkward at first. Once it becomes familiar, you’ll wonder why it took so long to make the change.

 

Pat Basile

CT LO, NCLEC, ABOC

IDOC Optical Management Consultant

https://meetme.so/PatBasile

AUTHOR

IDOC Optometry - Color Bar
Patricia Basile

Patricia Basile

Pat Basile has extensive experience in customer service, management and laboratory operations in the optical field. Licensed in Connecticut and certified by the ABO and NCLE, she has worked in both the large chain stores and in private practices. This gives her a unique perspective in knowing the competition and how best to survive the competitive era that we find ourselves in. She firmly believes that the consumer is much better served at the small, independent and caring optical practice, where they deliver more personal attention to the details that are so important to ensure that a great eye exam is followed by providing excellent eyewear. Pat will listen to your concerns, help you identify those things that can be done to bring your practice to the next level. Some of these things may include setting goals, training optical staff, inventory control and product mix.