Eyeworld

91 OPHTHALMOLOGY BUSINESS February 2016 misunderstanding with regard to the cost of accepting credit. The practice does not pay "interest" when a patient finances the proce- dure with a healthcare credit card. It does, however, pay a "bank fee" of the very same type incurred when accepting a patient's VISA or MasterCard. Practices often offer a reduced fee to a patient who pays for their procedure by cash; as with the "bank fee," this cash discount also reduces the total amount the practice receives. • There will always be surgeons who consider it "unprofessional" to offer a credit option for payment of their professional fee. What these practices fail to real- ize: From a business point of view, refractive procedures, premium lenses, and treatments for dry eye are RETAIL products. Even ancil- lary services and treatments cov- ered by insurance plans may have significantly higher out-of-pocket expense, and higher deductible insurance policies make it more difficult for your patients to afford what the practice is selling. They need help in the form of credit options to keep care affordable, and they gravitate to practices that offer attractive credit products, even if it means going with their second-choice provider. These products can make or "brake" your LASIK and premium lens numbers. Many of these issues arise from a genuine concern (misplaced as it may be) for the patient's financial health. In reality, however, this attitude could be seen as a reversion to the paternalism that once kept decisions out of patients' hands and (forgive the pun) did not credit them with the ability to act in their own best interest. That approach limits rather than expands access to good vision and improved quality of life. Once they understand all of their treatment options, the final decision to proceed with a vision correction procedure belongs in your patients' hands—it's their vision and their decision—and the option to use credit for vision correction should likewise remain in their hands. It's their finances, their decision; they want and need to understand all of their payment options as well. Ac- cess to suitable credit products really is all about their access to appropri- ate care. EW Mr. Rabourn is founder and managing principal, Medical Consulting Group, Springfield, Mo. He can be contacted at bill@medcgroup.com. About the author digital.ophthalmologybusiness.org BARCELONA, SPAIN JUNE 16–19, 2018 | B A R C E L O N A | J U N E 1 6 – 1 9 | B A R C E L O N A | J U N E 1 6 – 1 9 SIGN UP FOR WOC2018 UPDATES! ICOPH.ORG/WOC PARTICIPATE in cutting-edge continuing education opportunities. NETWORK with more than 10,000 attendees from over 120 countries. VISIT more than 100 exhibiting companies. ATTEND hundreds of scientific sessions led by renowned experts. Host: Spanish Society of Ophthalmology Co-Hosts: European Society of Ophthalmology and Spanish Society of Implant-Refractive Ocular Surgery

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