Download The Ultimate Guide to Growing a Vision Membership Plan E-Book!
Welcome to the future of vision care! Imagine a world where multi-location vision clinics aren’t tied down by the whims of PPOs (Preferred Provider Organizations), where patients are loyal and satisfied, and where revenue is consistent and growing. This world is already here, thanks to in-office vision membership programs. Let’s take a deep dive into how a 30-location vision clinic has transformed its business model by signing up 383 patients per practice, each paying $35 a month, and explore the magic behind their success.
A Visionary Approach to Membership
First, let’s talk numbers. With 383 patients per practice and 30 locations, that’s 11,490 patients across the entire organization. Each patient is contributing $35 per month, creating a significant and predictable revenue stream. Let’s break this down:
- Monthly Recurring Revenue (MRR): 11,490 patients x $35/month = $402,150/month
- Annual Recurring Revenue (ARR): $402,150/month x 12 months = $4,825,800/year
Yes, you read that right—almost $5 million in ARR! This steady stream of income allows the clinic to invest in state-of-the-art equipment, hire top-tier professionals, and provide an unparalleled patient experience. But the benefits don’t stop at the bottom line.
Loyalty: The Lifeblood of Success
Membership programs foster loyalty. Patients who sign up for a monthly plan are more likely to stay with the practice for the long haul. This loyalty is invaluable, especially in a market saturated with PPO-driven practices that prioritize volume over quality. Membership plans offer a personalized approach, making patients feel valued and cared for, which in turn encourages them to remain committed to the practice.
Loyalty also means consistent revenue. Unlike PPOs, where reimbursements can be unpredictable and often inadequate, a membership model guarantees a reliable income every month. This financial stability allows practices to reduce their dependence on PPOs and regain control over their pricing and services.
Slashing Dependence on PPOs
Let’s be real—PPOs can be a nightmare for vision practices. They dictate prices, limit service options, and often leave practices struggling to cover costs. By adopting a membership model, our 30-location vision clinic has significantly reduced its reliance on PPOs. This shift has empowered them to set their own prices, offer more comprehensive care, and invest in patient experience rather than administrative hassles.
Imagine a world where your practice isn’t at the mercy of PPOs’ ever-changing rules and regulations. A membership program offers the freedom to focus on what really matters: providing top-notch vision care and building strong relationships with patients.
Simple but Powerful Membership Plans
Creating a membership plan doesn’t have to be complicated. In fact, simplicity is key. Here’s an example of a straightforward yet effective membership plan:
- Basic Plan ($35/month): Includes an annual comprehensive eye exam, discounts on glasses and contact lenses, and priority scheduling.
- Premium Plan ($50/month): All benefits of the Basic Plan, plus a second annual eye exam, a pair of prescription sunglasses, and exclusive access to new products and technologies.
- Family Plan ($90/month): Covers two adults and two children, with all benefits of the Premium Plan for each family member.
These plans are designed to attract new patients by offering clear, tangible benefits that make vision care affordable and convenient. They also retain existing patients by providing continuous value and fostering a sense of belonging.
Attracting and Retaining Patients
Membership plans are a magnet for new patients. The predictable, low-cost monthly fee is appealing to individuals and families looking for comprehensive, affordable vision care. Marketing these plans is straightforward—highlight the savings, the convenience, and the superior care patients will receive.
Retention is equally important. Membership plans ensure that patients return for regular check-ups and purchases, driving in-store sales. Happy, loyal patients are more likely to recommend the practice to friends and family, creating a ripple effect that attracts even more new patients.
Increasing Average Revenue Per Patient
One of the most significant impacts of membership plans is the increase in average revenue per patient. Members are more likely to purchase additional products and services because they feel part of the practice and trust its recommendations. Whether it’s upgrading to premium lenses, buying a second pair of glasses, or opting for specialized treatments, the average spend per patient increases with a membership plan.
The BoomCloud™ Advantage
Setting up and scaling a membership plan might seem daunting, but that’s where BoomCloud™ comes in. This innovative platform is designed specifically for vision clinics, providing all the tools needed to create, manage, and grow membership programs.
BoomCloud™ simplifies the entire process, from creating customizable membership plans to automating billing and managing patient data. Its user-friendly interface and powerful analytics help practices track performance, identify growth opportunities, and make data-driven decisions.
But BoomCloud™ doesn’t just offer technical solutions. It also provides marketing support, helping practices promote their membership plans and attract new patients. With BoomCloud™, vision clinics can effortlessly transition to a membership model and enjoy the benefits of a loyal patient base and a stable revenue stream.
Download The Ultimate Guide to Growing a Vision Membership Plan E-Book!
Conclusion: A Clear Vision for the Future
In-office vision membership programs are transforming the way vision clinics operate. By signing up 383 patients per practice at $35 a month, our 30-location clinic has achieved impressive MRR and ARR, reduced dependence on PPOs, and fostered unparalleled patient loyalty. Simple yet powerful membership plans attract new patients and retain existing ones, driving in-store sales and increasing average revenue per patient.
The BoomCloud™ platform plays a crucial role in this transformation, providing the tools and support needed to set up and scale membership programs. With BoomCloud™, vision clinics can embrace the future of optometry, where loyalty, patient satisfaction, and financial stability are at the forefront.
So, say goodbye to the constraints of PPOs and hello to a brighter, more profitable future with in-office vision membership programs. It’s time to see the world through a new lens!
