CLINICAL

  DIVERSIFY YOUR PORTFOLIO

THE POWER OF GREEN

HOW TO ATTRACT CASH-PAYING PATIENTS

WITH HEALTHCARE reform and all the changes in vision plans and medical insurance, many of us feel lost and/or overburdened with the plans for which we are providers.

As a result, we have not been paying enough attention to patients who are willing to pay completely out of pocket for our services, and therefore, restore some calm in our practices.

Here, I discuss some simple ways you can attract cash-paying patients and, hopefully, refocus some of your energy on eye care rather than on paper pushing.

1 ADVERTISE IT ON YOUR PRACTICE WEBSITE

An optometrist’s practice website often lists the litany of insurance plans accepted; yet many don’t include a line that cash is accepted. Failure to include this may unintentionally alienate prospective patients who are willing to pay out of pocket for their care.

2 CREATE AN INCENTIVE SYSTEM FOR CASH-PAYING PATIENTS

Most practices ask for payment at the time of service. For patients who have vision or medical plans, this fee usually amounts to a nominal copayment. Why not provide a system where patients who pay completely out of pocket have the opportunity to receive a discount when they pay in full at the time of service? Doing so may offer some relief for cash-paying patients, incentivizing them to continue to see you with cash.

3 OFFER AN “IN-HOUSE” PLAN

Consider replacing a vision or health insurance plan that’s been giving you nothing but grief with your own “in-house” plan, which can also be offered to small companies that don’t provide their employees with comprehensive medical insurance. Offering an “in-house” plan gives a sense of value to both the employees as patients and as employees of a company that offers them benefits. Also, doing so may offer a way to keep the patients who were on the aggravating plan without the hassle of filing claims for reimbursement. Capturing more of a small company’s employees for 20% off of services and glasses, as per your “in-house” plan, is much better than 0% at full price.

A WIN-WIN

By embracing cash-paying patients, not only can we expand our practices, but we can also make the patients we see more profitable for our practices. Further, with no insurance to file, we take the burden off of our staff that insurance filing creates. OM

JEFFRY D. GERSON, O.D., F.A.A.O. practices at Grin Eyecare in Olathe, Kan., a full-scope combined O.D./M.D. practice. Email him at jgerson@hotmail.com or visit tinyurl.com/OMcomment to comment on this article.