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    ODs’ top 4 gripes about vision care plans: Part 3—Reimbursements

     

    2. Have the right product mix, retail pricing strategy

    When I am working with practices, the first thing I find is most do not have the correct product mix and pricing strategy to be profitable with VCPs. Having an overall practice strategy or personality with a corresponding retail pricing structure, and the correct planogram for frame inventory, is critical in being profitable with VCPs.

    Related: Overcoming our fear of change

    One of the biggest misconceptions I hear is retail pricing does not matter. In fact, one of the most important things you can do is to develop strategic retail pricing that allows you to be profitable.

    When I consult, this is the first step in making sure a practice is set up to reap the benefits of accepting VCPs. This product mix and strategy is dependent on your mix of insurances and geographic location.

    Up next: Bill correctly, bill medical when appropriate

    Carl H. Spear, OD, MBA, FAAO
    Dr. Spear owns a multi-location group practice with his wife Dr. Katie Gilbert Spear in Pensacola, FL. Dr. Spear is commander of the ...

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    Optometry Times A/V