News Briefs Archive

Now Is the Time to Review Your Retail Pricing

From ABB CONCISE

                                                                                                                            ADVERTORIAL                    

 

How do you price your contact lenses? Do you have a pricing strategy that encourages annual supply sales which leads to patient retention?  How frequently do you review your pricing strategy?

If you are like many other eyecare professionals, the thought of coming up with a pricing strategy for your office that ensures profitability and competitiveness makes your head spin. You became an eyecare professional to help your patients see, and all the other parts of your business can sometimes be a daunting task.

With ABB CONCISE’s Quarterly Retail Price Monitor and Annual Supply tools, that task becomes much easier to implement in your practice.

ABB CONCISE’s Q1 2013 Retail Price Monitor is filled with changes that will help your practice maintain competitive pricing and margins on your contact lenses. The Price Monitor reflects the manufacturer price and patient rebate changes for 2013. The Price Monitor also provides you suggested retail pricing that keeps you competitive while still making profit on contact lens sales.  

Now is the time to look at your pricing and make those adjustments using the Retail Price Monitor as your guide. The Price Monitor now shows practitioners the separate pricing of WalMart and 1-800-Contacts. Having this competitive information at your fingertips makes the decision process easier for you when deciding on how to price your top contact lens brands.  

Remember, the best way to compete with large retailers is to sell an annual supply. Utilizing the manufacturer rebate provided on most popular brands and the tier pricing strategy it makes presenting the annual supply to your patients the best option. When you deduct the manufacturer rebate from your annual supply price, you will see that the per-box price that you are offering on annual supplies is competitive with online retailer pricing. You can be even more competitive by utilizing manufacturer refit rebates that are available for most popular products. Reach out to your manufacturer representative to see if a refit rebate is available for your most prescribed brands.    

ABB CONCISE has a new sales tool called the “Annual Supply Contact Lens Savings Plan.” ABB CONCISE created the Annual Supply Contact Lens Savings Plan tear sheet to assist your office staff with demonstrating the cost savings to a patient when applying the annual supply price discount and other available rebate discounts. The most competitive approach and the best way to show patients the value of an annual supply is to discuss the savings while your patient is in your office. The Annual Supply Contact Lens Savings Plan tear sheet walks the patient step-by-step through all the savings they will receive with an annual supply and shows the net price per box that is very competitive when purchasing through your office.  

If your practice is still not comfortable with having that conversation with patients, an ABB CONCISE representative can help with in-office training, please contact ABB CONCISE at 800.852.8089. ABB CONCISE also offers an Annual Supply Tutorial (available on www.abbconcise.com‘s ECP tools page) that can be viewed at your practice’s next staff meeting to start that 2013 goal of increasing annual supplies sold by your office staff.

Take action now and review your pricing!  2013 brings the opportunity to evaluate your strategy and get your office staff ready for selling more annual supplies.  
 

To Top
Subscribe Today for Free...
And join more than 35,000 optometric colleagues who have made Review of Optometric Business their daily business advisor.