Offer New Technologies to Achieve Economic Success

The business model of my private practice, Qvision, is based on offering customers a comprehensive ophthalmic service that covers all subspecialties. Among them, refractive surgery and presbyopia correction provide the largest volume of our business.

THREE TECHNIQUES, THREE PATIENT PROFILES

We offer three techniques for the correction of myopia, hyperopia, and astigmatism, each one fitting a unique customer profile with different priorities. These are PRK, femtosecond LASIK (femto-LASIK), and ReLEx smile.

PRK. In our practice, we typically reserve PRK for potentially price-sensitive customers. In this group’s scale of priorities, the cost of the operation is fundamentally valued more highly than the benefits that other techniques might provide.

Femto-LASIK. This intervention is a compromise between the aforementioned technique and the premium treatment we offer. The customer who does best with femto-LASIK is one who, without giving up technological innovation, is conservative in selecting the latest techniques.

ReLEx smile. In comparison with PRK and femto-LASIK, ReLEx smile meets the needs of customers who most greatly appreciate technological innovation and added value. Those who typically elect this premium technique are not as sensitive to a higher-priced procedure as others might be.

PRICING STRATEGY

Spain’s current economic crisis has placed severe constraints on consumption and created a high rate of unemployment among young residents. Both have hindered the growth of consumer confidence and left ophthalmologists with a fragmented marketplace for laser vision correction.

As a result, eye clinics are left with two pricing strategies. On one hand, there are models in which the economic effort required by the potential client is the main variable; these are based on a structure of low prices and service standardization. On the other hand, there are models that base the economic strategy on differentiation and offering customers added value; these try to convert the purchasing process into a customer experience based on personalized service, excellence, and trust.

MARKETING TO MILLENNIALS

Currently, the majority of refractive surgery consumers are millennials, the demographic cohort that followed generation X. Born in a time of economic prosperity, the members of this population generally have personalities that are different from those of their baby boomer parents: They are impatient, curious, and academically advanced.

Now that millennials are faced with the current economic crisis, have they turned their backs on refractive surgery? The answer is: No, not if we adapt our practices to meet their needs.

In order to maintain our business’ prosperity, we have re-learned how to communicate with these new target customers by using language and communication channels that are popular with them. We have also defined our brand so that it resonates with the values of millennials: freedom of choice, open environments, advanced technologies, high qualifications, and solidarity. It is essential to be a partner to these customers—to feel like one of them.

Millennials do not always reject premium services, and it is our job as surgeons to present such goods in a manner that is appealing to this generation of patients. We facilitate financing options, we have adapted our intervention times so as not to impair their daily activities, and we provide maximum access to the information they need to make an informed decision. In short, we have removed all obstacles that can negatively influence a patient’s buying decision.

We also focus on the experiences of potential customers in the premium sector and aim to convey the added value of the procedure in every interaction. We do so because the customer’s experience prior to the purchase decision is crucial. Likewise, we focus on maintaining a high level of customer satisfaction after surgery in order to increase word-of-mouth referrals. Many of our quality-assurance activities are designed to foster customer loyalty.

These marketing strategies have created a customer value that allows us to price our premium product, ReLEx smile, higher than our competitors.

AT THE FOREFRONT

Is the constant battle to be at the forefront of technology perceived as a technology bubble or a lever that pushes us to meet the needs of our most demanding customers? To the physicians and staff at Qvision, the answer is clear: Technological innovation must be one of the main elements in our corporate mission. For this reason, we continue to incorporate developments that meet the needs of our potential customers and exemplify encouraging scientific evidence.

Our results speak volumes, as we have increased the number of laser vision correction procedures we perform despite challenging economic times. Additionally, our premium procedure offering represents the highest percentage of our business in this time of financial crisis. With restricted consumption and stunted maturity of the laser refractive surgery market, the only wise option is to invest in the latest technologies and work toward exceeding customer expectations. This strategy can help one to achieve a competitive advantage that differentiates his or her practice from competitors.

Joaquín Fernández, MD, is the Medical Director of QVision, in Almería, Spain. Dr. Fernández states that he has no financial interest in the products or companies mentioned. He may be reached at tel: +34 609871538; e-mail: joaquinfernandezoft@gmail.com.