It looks like you may have more flexibility in pricing than you realize, according to Jobson Optical Research’s 2012 Adult Consumer Eye Exam Experience report. Among those who had an eye exam in the last six months and who are currently covered by a type of managed vision care or vision insurance plan, 63.3 percent of respondents reported that they paid only a co-payment/deductible/discounted price at the time of their exam. Only 8.8 percent strongly agreed that the fee was too expensive, while just over three out of ten consumers (34.8 percent) strongly disagreed that the fee was too expensive. Sixty-seven percent of consumers with a plan strongly agreed or agreed that the exam was a good value compared to the fee.
Click HERE to purchase the full report.
Inflation went up last year about 2.5 percent. In order to just keep up with inflation, your minimum fee increase this year should be 2.5 percent. Most practices fear fee increases. But, as the Jobson Optical Research’s 2012 Adult Consumer Eye Exam Experience report shows, less than 10 percent of your patients feel your fees are too expensive.
What you need is a better approach to fee increases. Let’s create an action plan for this year that we can use to keep our fees appropriate.
Step 1: Every January raise your fees by at least the amount of inflation.
Step 2: Every time an optical laboratory or a frame company raises your fees, pass the fee increase along. With today’s practice management software programs, keeping your fees current with lab raises is easier than it has ever been.
Step 3: At least once a year, re-evaluate your practice positioning. Are you positioning your practice to be low fees, mid-range fees or high fees? Now, within the bracket you chose for your practice, do you want to be the bottom, middle or top (e.g.: top of the high fees in my area, middle of the high fees for my area or bottom of the high fees for my area)? Once this decision has been made, recalibrate your fees if needed.
A more sophisticated management of your fee structure this year will keep your practice from falling behind due to the natural forces of the marketplace.
