Ophthalmologists: Know your Options For Patient Ready Financing

Written by Polly Neely⎮Business Development Officer

As an ophthalmologist, which option would you prefer?

Option 1- 20/20:  Financially ready patients 

Option 2- 20/40:  Financially uncertain patients

The answer seems obvious. Who wouldn’t choose Option 1 - 20/20? It happens every day in most eyecare offices. In reality, both choices can be 20/20, with some tweaking. Preparing the patient for the exam through medical education and financial information enables them to make more informed choices. The preparedness of the patient plays a deciding factor in whether they move forward or postpone the procedure. 

Option 1: Offering an opportunity for patients to financially pre-qualify ahead of their consultation results in a confident patient. A financially confident patient makes the decision to move forward with the procedure on the basis of their visual needs and desires, rather than their financial fears. Most people prefer to perform financial approvals or financial reviews in private. By providing a means for the patient to financially pre-qualify prior to their visit, they come in prepared for the expense and are more likely to commit and schedule their surgery on the day of their consult. 

Option 2: The patient has the desire to have the procedure, or they would not be in your office. However, while excited about being a qualified candidate, the dreaded question of, “How much does it cost?” is spoken. This is where the excitement often fades. The patient begins to feel more at ease after hearing about the impressive experience of the surgeon, statistics of successful outcomes, the use of state of the art technology, and how the benefits far outweigh the risks. The issue here is that financial fears are personal-not statistical. At this point, the patient, not knowing what to expect, falls silent, or tells you they will have to get back with you and cannot make the decision to move forward at this moment. This may also be when your surgical counselor’s voice trails off as they are as uncomfortable, if not more than the patient, to discuss price. So the awkwardness begins and the appointment comes to an end without a commitment.      

While both options may be available in offices today, Option 1 is far more likely to improve your chances of surgical booking on the day of the consult.

I know what you may be thinking: “I thought you could only pre-qualify for a mortgage.” Not true. Your patients can pre-qualify with the right financing company prior to their visit with you.    

Knowing your options and being prepared always makes for a better outcome. While exact pricing cannot be determined until the final assessment, the customer can feel confident in that they are financially prepared to move forward.   

Offering your patients financial pre-qualification, accommodates the patient and lessens your no-show and cancellation rates. In doing so, you will be maximizing your patient and staff schedule while reducing dead times in the schedule. Patient ready visits will guarantee happier and more prepared patients as well as eliminate the barriers that prevent patients from following through with procedures.