Are you overlooking a key market in your dispensary?
In the optometric marketplace, failing to provide an offering to as many segments of your market as you can is not only leaving money on the table, it’s poor patient service. Unless you are selling at least as many pairs of glasses as you performing eye exams, your patients are walking out the door to buy glasses elsewhere. Why do they leave? Right or wrong, they have decided that you do not offer a product that suits their needs and their budgets.
Let’s set aside the fact that these patients are walking out the door and into a world of predatory retailers where they are certain to end up with ill-fitting frames and low quality lenses that cost far more than advertised. The key question here is: why they are walking out the door in the first place?
THE COST VALLEY
In between lower profit work, such as Medicaid, and high end frames, there is a valley of $100-$300 level jobs that some offices ignore due to the difficulty in producing a profit through their current lab situation. Optometrists around the country report that for cash patients, and with most insurances, frames with lenses for even single vision patients with a basic AR will cost $300 or more, which exceeds what many consumers are willing or able to spend. Compare that number to the promise of “3,000+ Styles Starting at $6.95” made by a leading online seller, and you can certainly see why patients are not just walking out, but running for the door.
This cost-effectiveness valley is where you will find cost-conscious shoppers, such as your younger patients who are likely to do their shopping online. You can also be losing patients who buy into the belief that Wal-Mart or Costco is always cheaper without actually doing the research.
WHAT YOU CAN DO
First, you need to educate your patient as to just what “3,000+ Styles Starting at $6.95” really means, and that with polycarbonate lenses, AR coat, and shipping, they’ll be looking at $150-$200 for those ill-fitting glasses purchased online. You should also be thinking about this number: $196 is the average cost of glasses nationally, and that’s how much an average patient is willing to pay. Do you have a product that matches that price point?
PROFITABILITY WITH VCD LABS
For your patients that can’t or won’t pay $300 or more for their glasses, try offering Complete Eyewear from VCD Labs before they walk out the door. We can help you turn a walk-out into $75 – $200+ in profit.
1. Single Vision 1.50 Complete Eyewear with premium AR: $25 – $32 from VCD Labs.
2. Progressive 1.60 Complete Eyewear with premium AR: $$69 – $75 from VCD Labs.
You can see that you can easily beat the $300 price point using VCD Labs as your value line for frames, and still provide the highest quality lenses with AR. Your patients will not only be paying less than they might online, they’ll receive glasses prescribed and fit by a professional, and you’ll receive fair compensation.
Before you just hand over that prescrition, take time to show your patients how your prices compare to discount and online retailers.
ADD IT UP – VCD Labs Retail Comparison (.pdf)