When people become interested in LASIK, a major concern is usually how they will pay for the procedure. For this reason, ODs who refer patients for LASIK and perform pre and post-operative care are faced with more objections to pricing than we are at PCLI. Because we only accept patients for surgery on the referral of their family eye doctor, patients generally have already overcome the financial hurdle and worked out their payment strategies before we see them.
Considering this, you may want to make financing options available—in your practice.
Money Talk
Most doctors feel awkward talking to patients about fees. And that’s OK when insurance plans are picking up most of the tab. When third-party payers are footing the bill, financial discussions can largely be avoided. But LASIK plays by a different set of rules and ignoring them has been costly. With the invasion of LASIK discounters, many surgeons lowered their fees to match the competition. But all across the nation, lower prices led to lower surgery volumes.
Fear—Not Price
The fact is that fear—not price—is the major deterrent to LASIK surgery. I believe discounted fees have caused a large number of consumers to be even more reluctant. Patients who seek quality medical care are uncomfortable when surgeons promote discount prices. Already fearful of the risks involved, their trust in surgeons is further rattled by commercialization of the procedure.
Only after people get over their fear of the procedure will price become important. Therefore, we are shifting our emphasis from the overall cost of the procedure to the affordability of LASIK care. Most patients can’t afford to pay out-of-pocket for LASIK. National statistics show that only 25% of Americans have enough cash on hand to buy items costing $500 or more. People seldom save for major purchases anymore. For better or worse, credit cards and monthly payment plans are how consumers make purchases today.
Discomfort
A doctor’s discomfort with price discussion directly impacts how the staff presents LASIK fees. Any talk of fees is often put off until the end of the conversation and then presented in an apologetic tone. Usually, financing options are either not available or not discussed until it is learned that the patient really needs it.
We often act as if monthly payment plans are for the downtrodden and promote them as a last resort to those who have “bad credit.” But the truth is that most patients can’t afford to pay cash for LASIK—or any big ticket item.
Making it Affordable
Although we do not wish to encourage personal debt, we realize that monthly payments are a fact of life for the majority of consumers. Once patients have overcome their fear of treatment, doctors can make LASIK affordable by offering a payment plan to suit their budget.
At PCLI, we offer the option of flexible monthly payments to every LASIK patient and are in the process of including 0% financing. We have carefully researched numerous payment plans and are happy to recommend the following program for use in your office.