The Optometrist Business Playbook: How to Win with Membership Plans, ARPP, and a Smarter Practice Model
If running an optometrist business feels like juggling flaming glasses frames while dodging insurance hoops, you’re not alone. The good news? There’s a game plan for growing your practice without losing your mind—or your margins.
Let’s dive into the playbook for success, featuring ARPP (Average Revenue Per Patient), membership plans, ideal customer profiles (ICP), and the ultimate freedom move: renegotiating or dropping PPO plans. Oh, and spoiler alert—BoomCloud™ and Weave make a star appearance to show you how to crush it.
Membership Plans: The Golden Ticket to Optometry Bliss
If you’re still relying on PPOs, you’re basically stuck in the optometry stone age. Membership plans are where the magic happens. They give your patients a clear, no-surprises path to better eye care while giving you a steady stream of recurring revenue.
Here’s why membership plans work:
- Predictable Revenue: Monthly subscriptions smooth out those seasonal dry spells.
- Higher ARPP: Membership patients spend 2X to 5X more than PPO patients.
- Loyalty for Days: These patients are your ride-or-dies—they’re not going anywhere.
Case Study: Scaling to 1,500 Members with BoomCloud™ and Weave
Want proof that this formula works? Let’s talk about a practice that used BoomCloud™ and Weave to scale their membership plan to epic heights.
- Active Members: 1,500 members in 28 months.
- Monthly Fee: $35 per patient.
- MRR (Monthly Recurring Revenue): $52,500.
- ARR (Annual Recurring Revenue): $630,000.
- ARPP (Average Revenue Per Patient): A staggering leap, thanks to loyal membership patients who embrace premium eyewear, specialty lenses, and the latest in optometry tech.
- Case Acceptance Rate: 40%—far better than the industry averages for cash (24%) or PPO patients (30%).
How did they pull it off? With the combined power of BoomCloud™’s seamless membership management and Weave’s patient engagement tools, they turned their optometry business into a high-performance revenue engine.
ARPP: The Metric That Matters
In case you missed it, ARPP is your new best friend. Why? Because it’s the ultimate measure of how effectively you’re monetizing each patient.
- Membership Patients: Spend big and commit to consistent care.
- PPO Patients: Spend less and drag your profitability down with those reimbursement rates.
The takeaway? Stop leaving money on the table. Membership plans turbocharge ARPP by turning passive patients into active investors in their eye health.
Renegotiate or Drop PPO Plans
Newsflash: You don’t have to stay married to PPO plans forever. In fact, most practices realize they’re losing money by sticking with them. With the financial stability of a membership program, you can:
- Renegotiate: Use your membership revenue as leverage to demand better terms.
- Drop PPOs: Say goodbye to the insurance rat race and hello to higher profitability.
ICP: Attracting Your Ideal Patients
Not all patients are created equal. To maximize your practice’s potential, you need to focus on your Ideal Customer Profile (ICP)—those patients who value quality care, invest in top-notch eyewear, and want a practice they can trust. Membership plans naturally attract these high-value patients, creating a sustainable revenue model that works for everyone.
The Role of Marketing in Scaling Your Practice
You can’t grow without visibility. That’s where Weave shines. With tools to boost your online reviews, streamline communications, and simplify payment collections, Weave helps you build a patient experience that’s second to none.
Meanwhile, BoomCloud™ makes it easy to market your membership plan with custom landing pages, automated renewals, and social media campaigns that target your ICP like a laser beam.
Case Acceptance Rates: The Silent Revenue Killer
Let’s talk about case acceptance. Membership patients accept treatment plans 40% of the time, compared to 30% for PPO patients and 24% for cash payers. The difference is huge. By removing financial barriers, you not only improve patient outcomes but also boost your bottom line.
Why BoomCloud™ and Weave Are the Ultimate Power Duo
- Recurring Revenue: BoomCloud™ drives MRR and ARR with ease.
- Patient Engagement: Weave keeps your patients connected and coming back.
- Operational Efficiency: Together, they streamline your workflows so you can focus on care.
The Final Word
Running an optometrist business doesn’t have to be a grind. By embracing membership plans, optimizing your ARPP, and focusing on your ICP, you can create a practice that’s both profitable and fulfilling.
Ready to scale? Schedule a demo with BoomCloud™ and see how the right tools can transform your practice. Because the future of optometry is here—and it looks a lot like success.
