Dropping a vision plan feels a bit like quitting a bad relationship. At first, you’re scared—What if they leave me? What if I’m all alone?—but then you realize you’re breaking free from a toxic partner that’s been draining your wallet, stressing out your staff, and dictating your life. And, oh man, it feels good.
So, if you’re done with razor-thin reimbursements, endless admin headaches, and feeling like a hamster on the vision plan treadmill, it’s time to level up. Let’s talk about how to drop a vision plan while keeping your revenue steady, your patients happy, and your sanity intact. Spoiler: it’s all about marketing smarter and introducing a killer membership program.
Why Drop a Vision Plan? The Brutal Truth
Let’s call it like it is: some vision plans are the absolute worst. You’re working your tail off, seeing more patients than your schedule can handle, and what do you get in return? Reimbursement rates so low you’d be better off selling sunglasses on the beach.
Here’s why practices are ditching vision plans faster than a bad Tinder date:
- Horrible Margins: Reimbursements don’t even cover your chair time, let alone your overhead.
- Extra Admin Work: Dealing with claims, denials, and appeals is like playing Whac-A-Mole.
- Patient Loyalty Issues: Patients tied to vision plans aren’t your patients—they’re the vision plan’s.
The solution? Membership programs. They put you back in the driver’s seat, build patient loyalty, and keep revenue flowing like clockwork.
Case Study: Vision Care Freedom
Meet Vision Care Freedom, a practice that decided enough was enough. They were tired of being nickel-and-dimed by vision plans and knew they needed a better way to manage their patient base and their bottom line.
The Problem
Vision Care Freedom was contracted with three major vision plans. While they had a packed schedule, their profit margins were tighter than skinny jeans on Thanksgiving. Patients would come in for basic exams, buy the cheapest frames available, and peace out until their insurance covered their next visit.
Staff morale was in the dumps, cash flow was a mess, and the owner, Dr. Morgan, was desperate for a way out.
The Vision Care Freedom Plan
Dr. Morgan made a bold move: they started a membership program to replace those unreliable insurance payouts with predictable, recurring revenue. Here’s how they did it:
- Membership Tiers for Everyone:
- Basic Membership: Annual exams, discounts on lenses and frames.
- Premium Membership: Everything in Basic, plus discounts on high-end frames and specialty lenses.
- Marketing Like a Boss:
Vision Care Freedom went all-in on promoting their membership program. Social media ads, in-office signage, email campaigns—you name it, they did it. Patients who wanted to stick around after the vision plan breakup had an easy way to stay loyal. - BoomCloud™ to the Rescue:
They used BoomCloud™ to automate sign-ups, billing, and renewals. No clunky spreadsheets, no awkward follow-ups—just smooth operations and happy members.
The Results
- MRR (Monthly Recurring Revenue): Within the first six months, their membership program brought in $10,000 in MRR. By the end of the year, they were hitting $15,000 monthly.
- ARR (Annual Recurring Revenue): The program generated $180,000 in its first year, climbing to $225,000 by year two.
- Patient Spend: Membership patients spent an average of 2.5x more than non-members, opting for premium frames, blue light glasses, and anti-glare coatings like they were going out of style.
- Loyalty Rates: Membership patients renewed at a rate of 85%, and referrals from happy members brought in even more patients.
Dr. Morgan summed it up: “The membership program didn’t just help us drop a vision plan—it gave us control over our practice again. Now, we focus on patient care, not insurance quotas.”
How to Drop a Vision Plan Without Losing Your Patients
Here’s the playbook:
Step 1: Do Your Homework
Before you cut ties, calculate how much each vision plan is costing you. Look at reimbursement rates, patient volume, and the impact on your staff’s workload. You might be surprised how much money you’re losing.
Step 2: Build a Membership Program
This is your safety net. By offering patients an alternative to insurance, you keep them loyal while creating a steady revenue stream. Membership patients are invested in your practice and say “yes” to treatment more often.
Step 3: Communicate Like a Pro
Be transparent with your patients about why you’re dropping the plan. Emphasize the benefits of your membership program: better care, exclusive perks, and no insurance middlemen calling the shots.
Step 4: Market the Heck Out of It
Use every tool in your arsenal—social media, email campaigns, direct mail, even good old-fashioned word of mouth. Make sure patients know about your membership program and why it’s a win-win for everyone.
Why Membership Programs Beat Vision Plans Every Time
Let’s break it down:
- Predictable Revenue: Membership fees roll in monthly or annually, giving you financial stability.
- Higher Patient Spend: Members feel invested and are more likely to upgrade to premium services and products.
- Stronger Loyalty: Membership patients stick around, refer friends, and become part of your practice family.
- Less Admin Work: No more wrestling with insurance claims. Need we say more?
The Power of Memberships + Marketing
Dropping a vision plan doesn’t have to be scary when you’ve got a solid strategy. A membership program, combined with a killer marketing plan, ensures your patients stay loyal while your revenue skyrockets.
So, are you ready to ditch the insurance drama and take control of your practice? Build that membership program, own your growth, and make your optometry business the envy of every practice in town.
What’s Next?
If you’re serious about dropping a vision plan and leveling up your practice, start with the two things that matter most: marketing and memberships. Together, they’re a recipe for success—and a future where you call the shots.
Now, go get that recurring revenue, boss! Your practice deserves it.
