MBA Insights 2nd Quarter 2012 : Page 4

Implementation Guide: Set Your Objectives, Then Plan Strategies Practice Marketing and Optical Merchandising D ifferent objectives require different broad strategies and targeted tactics. The Practice Marketing and Optical Merchandising imple-mentation guide can help you craft a roadmap. If your objective is to attract new patients, these could serve as key strategies and tactics. Increase patient referrals I Offer referral incentives. I Improve service perception. Sponsor media advertising I Run newspaper ads. I Conduct mass mailings. Acquire a second practice I Purchase ABC Eye Care. If your objective is to increase revenue per patient visit, there are several strategies and sup-porting tactics to help achieve that objective. Upgrade product sales mix I Encourage no-glare lens purchases. I Increase daily disposable lens Rxes. I Increase penetration of multifocal soft contact lenses by upgrading monovision patients. Increase multiple-pair sales I Discount second pairs 50 percent. I Increase retail pricing. I Increase photochromic lens markup to 2.8 times cost of goods. Improve capture rate I Upgrade frames displays. I Increase soft contact lens annual sup-ply sales ratio by proactive presentation. Expand services I Offer glaucoma treatment. I Offer low vision services. And if the objective is to increase the fre-quency of patient visits, strategies and tactics could line up like this. Improve patient recall methodology I Preappoint patients. Promote new product arrivals I Conduct new product mailings, e-blasts. I Conduct a trunk show. K Patient Visits Management & Business A CADE M Y For Eye Care Professionals Sponsored by TM Continued from page 3 Upcoming 2012 MBA Seminars I Texas Optometric Associa-tion in San Antonio, July 28 I MBA II with Disney Insti-tute in Anaheim, Calif., Aug. 3-4 I Vision Expo West in Las Vegas, Sept. 8 I MBA II with Disney Insti-tute in Orlando, Sept. 21-22 I GWCO Congress in Port-land, Ore., Sept. 30 I California Optometric Association in Monterey, Calif., Nov. 8 K I KEY MESSAGE: “Your insurance allowance covers basics only.” Half of the U.S. vision correction population has vision benefits. Few patients with this kind of insurance benefit remember the complexities of their coverage, and many expect that their insur-ance will cover the total cost of their eye exam and eyewear or contact lenses. But, in fact, many plans cover only a very minimal and basic package. This leads to misunderstanding and disappointment. It should be made clear from the first con-tact with each patient during an office visit that a vision allowance should be considered a major discount on products and services but may not be sufficient to obtain products that offer the performance patients want. The explanation should make clear what fees and charges will be covered by a patient’s plan and those that will not before service begins. Product recommendations should never begin with the words, “Let me show you what your plan covers.” This can inadvertently result in self-imposed constraints on presentation of eye-wear or contact lens alternatives to limit or elimi-nate a patient’s out-of-pocket expense. Insurance coverage should never dictate the sales process. K Scripts to Explain Vision Benefits “Your coverage pays for an exam and a very basic pair of eyeglasses, but it can be used to greatly reduce the cost of eyeglasses offering much better performance. That’s what most of our patients prefer to wear.” “Your coverage pays for an exam and a six-month supply of contact lenses. This will greatly reduce the annual cost of your lenses. For extra convenience and savings, we rec-ommend an annual supply of contact lenses, at a modest additional cost.” “Your insurance will greatly reduce the cost of your primary pair of eyeglasses and make it much easier to afford a pair of computer glasses (or polarized sunwear, etc.) that will make your daily work a lot more comfortable.” K 4 • MBA Insights 2Q 2012 • mba-ce.com

Implementation Guide: Set Your Objectives, Then Plan Strategies

Different objectives require different broad strategies and targeted tactics. The Practice Marketing and Optical Merchandising implementation guide can help you craft a roadmap. If your objective is to attract new patients, these could serve as key strategies and tactics. Increase patient referrals •Offer referral incentives. •Improve service perception. Sponsor media advertising •Run newspaper ads. •Conduct mass mailings. Acquire a second practice •Purchase ABC Eye Care. If your objective is to increase revenue per patient visit, there are several strategies and supporting tactics to help achieve that objective. Upgrade product sales mix •Encourage no-glare lens purchases. •Increase daily disposable lens Rxes. •Increase penetration of multifocal soft contact lenses by upgrading monovision patients. Increase multiple-pair sales •Discount second pairs 50 percent. •Increase retail pricing. •Increase photochromic lens markup to 2.8 times cost of goods. Improve capture rate •Upgrade frames displays. •Increase soft contact lens annual supply sales ratio by proactive presentation. Expand services •Offer glaucoma treatment. •Offer low vision services. And if the objective is to increase the frequency of patient visits, strategies and tactics could line up like this. Improve patient recall methodology •Preappoint patients. Promote new product arrivals •Conduct new product mailings, e-blasts. •Conduct a trunk show.

Scripts to Explain Vision Benefits

“Your coverage pays for an exam and a very basic pair of eyeglasses, but it can be used to greatly reduce the cost of eyeglasses offering much better performance. That’s what most of our patients prefer to wear.” “Your coverage pays for an exam and a six-month supply of contact lenses. This will greatly reduce the annual cost of your lenses. For extra convenience and savings, we recommend an annual supply of contact lenses, at a modest additional cost.” “Your insurance will greatly reduce the cost of your primary pair of eyeglasses and make it much easier to afford a pair of computer glasses (or polarized sunwear, etc.) that will make your daily work a lot more comfortable.”

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