In one month, our optical department sold 70 pairs of glasses to cash-paying customers. This success story isn’t a fairy tale, it’s fact.
Like a lot of small optometric offices, we believed we couldn’t make much of a profit on optical. We assumed that most patients who have managed vision plans would shop around and end up purchasing cheaper glasses online or in a big retail store. Fortunately, companies in the optometric space are looking to create ways for the small business owner to remain competitive and successful.
As an example, one company, Rev360, has created an innovative plan to bring cash-paying patients back into the local small business. They have created a glasses option that includes frame and lenses called twelve84. This can be marketed as an “in-house” brand for your business and gives all patients the option of paying out of pocket.
If you are like me, you are skeptical that a cash option could compete with the managed vision plan and be profitable. Ironically, the managed vision benefit is no longer much of a benefit. The managed vision plans have driven prices so high that the discounts do little to offset the overly-inflated price tag.
With Twelve84, every patient in your office has the opportunity to get a bundled in-house brand for no more than $399. They have four options: two are single vision, two are digital progressive addition lenses (PALS). The options range from $149 to $399 and can include poly, high index 1.67, and blue filter AR.
When I was first introduced to this concept, I was tempted to dismiss it because I didn’t think patients would purchase outside of their managed vision plan. However, 70 pairs later, all sold within the first month, I am a believer. We have found that patients will not use their vision plans when given a value option that equals or exceeds the managed vision plan.
The downside of twelve84 is it only available to Rev360 users. Fortunately for our office, we use Rev360 and can now capitalize on an in-house brand that patients love buying, is highly profitable and our staff love selling.
Turns out cash sales are a lot less work for staff than filing the managed vision plans.
I see hope for the future success of the small optometric office. And that’s not fiction.
