On average, 40% of the patients who get their contact lens prescriptions from a given practice will leave without buying. These “exam only” patients are extremely unlikely to buy from you after they leave given the appeal and convenience of online retailers and big box brands.
Here’s another alarming statistic:
Of the patients who don’t buy a full year supply of contact lenses on their exam date — which is likely over 75% of your patients — 90% will choose to reorder their lenses after their first supply runs out from a source other than your practice.
When you’re analyzing areas of opportunity to grow your contact lens business, there are two crucial questions you should ask:
How can you increase your capture rate of in-office contact lens sales?
How can optimize your business to sell more annual supplies?
These may seem like tough questions, but there’s a simple answer right at your fingertips: CLX Price Compare.
Price Compare Helps Boost In-Office Sales
Today’s consumers have never been more informed. In the retail space, it’s estimated that 80% of shoppers do their homework before pulling the trigger on a purchase. While contact lens patients are quick to trust their doctor’s judgment on their prescription, many still want to comparison shop that specific product before making the final buying decision.
Given the first statistics we mentioned, this post-exam comparison shopping becomes a disadvantage for you. Once your patients leave your office, your chance to fill their prescription in your office plummets. That’s where CLX Price Compare comes in.
What is Price Compare?
Price Compare is a simple tool that pulls real-time pricing data from your major competitors so that you can show patients an apples-to-apples price comparison for their prescribed contact lens right there in your office.
Because it factors in manufacturer rebates and insurance benefits, it’s likely that the price you show will be competitive with the online retailers, if not considerably lower. And, if you wouldn’t appear favorably against a certain competitor on a given product, CLX Price Compare won’t display that competitor’s price.
When you do your patients’ comparison shopping for them, you’ve removed a step in the process, saved them time, and fortified the doctor-patient relationship. Not to mention, you have the tools to increase your in-office capture rate by giving patients the information they need to make an informed decision in the moment.
Price Compare Can Also Help You Sell More Annual Supplies
When most ECPs hear about CLX Price Compare, they immediately see the benefit that it provides in the process of increasing the percentage of in-office sales, but there’s a slightly less obvious secondary boost as well. With Price Compare, you can sit down and show your patient what an annual supply purchased from you will cost them when they purchase from you compared to an online retailer or big box store.
With this information, more patients will be willing to pull the trigger on a year’s investment in their contact lenses, because they’ve already seen the benefit of a manufacturer’s rebate (which are generally for full-year supplies) and can rest easy that they are getting the best deal. Since they’re going to need contact lenses throughout the year anyway, it makes sense to buy right now from their prescribing OD.
Of course, not everyone is going to be willing to commit the money right then and there for annual supply, and that’s okay! That’s why CLX offers a flexible payment option as well.
CLX Gives You Options to Increase Contact Lens Sales
One of the things that people love the most about having the CLX System in their practice is the number of options they have access to, options that allow them to support every step in the patient lifecycle with convenient solutions.
By enabling you to increase your in-office capture rate and sell more annual supplies, Price Compare is just another way that CLX is helping you to better serve your patients.
Using CLX Price Compare to Sell More Daily Disposable Contacts
Most ECPs consider daily disposable contact lenses one of the most desirable products to fit — they’re safe, convenient, and offer some of the highest profit margins of any contact lens modality. Yet, industry-wide, only 15% of patients are wearing dailies. This might represent a huge growth opportunity in your practice.
When speaking to your patients about daily disposable lenses, one common obstacle you may face is that they are more expensive (or at least are perceived to be more expensive by your patients.) However, an annual supply of daily disposables usually will have a manufacturer’s rebate that will reduce the cost. The patient’s insurance can decrease the cost even further, and you may also be running a practice-specific special deal. To overcome the price objection, break down the cost for patients in the office and add in all of their insurance benefits, rebates and discounts so that they can see the TRUE cost of their daily disposables.
Contact Dave Trask ([email protected]) to learn more about how a Contact Lens Fitting Analysis could help grow your contact lens business.