About Bob Richardson

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So far Bob Richardson has created 25 blog entries.
September 3, 2013

Membership – Annual versus Monthly plans

By | 2017-01-18T17:22:18+00:00 8:10 am|Comments Off on Membership – Annual versus Monthly plans

Deciding on annual versus monthly billing can be one of the biggest challenges of do-it yourself membership programs. Annual plans seem to present the easiest option in terms of origination and maintenance, but monthly plans hold many advantages that may be worth the extra effort. Let’s take a look at […]

August 26, 2013

Training Staff to Communicate Value

By | 2017-01-18T17:27:11+00:00 8:12 am|Comments Off on Training Staff to Communicate Value

If you’ve been reading the blog so far, the potential benefits of membership programs – increased loyalty, steady revenue stream, and consistent care for patients – should be clear. However, a key factor in launching a successful program is communicating the value of the membership to the customer.  We can throw […]

August 19, 2013

The Power of Membership

By | 2016-10-29T16:36:43+00:00 8:14 am|Comments Off on The Power of Membership

This week, we’re shifting the focus to membership programs, a powerful tool for maintaining loyalty and creating a steady stream of business. Membership programs provide an easy mechanism to bundle a suite of products and services together that meet the basic, and in some cases, advanced, needs of customers.  They […]

August 12, 2013

Managing Risk, with an Eye on Reward

By | 2016-10-29T16:36:43+00:00 11:16 pm|Comments Off on Managing Risk, with an Eye on Reward

It’s time to confront a hard and uncomfortable truth: extending credit comes with risk. Even with best practices employed across the board, every payment plan carries the risk of a loss. The more your practice relaxes approval standards to accept more business, the larger the risk.

We have doctors in our […]

August 5, 2013

Managing Risk: Individual Based Credit Assessment

By | 2015-06-08T18:10:37+00:00 11:18 pm|Comments Off on Managing Risk: Individual Based Credit Assessment

As we discussed last week, optimizing returns on in-house financing starts with managing risk. And managing risk starts with evaluating patient profiles to minimize default rates. Our last post suggested a uniform system running credit and bank checks as well as other procedures for each candidate, with minimum requirements for […]

July 29, 2013

Managing Risks: Origination Workflow

By | 2017-01-18T17:30:51+00:00 8:20 am|Comments Off on Managing Risks: Origination Workflow

Today’s blog continues our series on maximizing the effectiveness of in-house financing, by controlling factors influencing your returns.

As we discussed last week, a proactive approach pays dividends in terms of preventing soft defaults from turning into hard defaults. This week we’ll examine how a practice can employ smart origination […]

July 22, 2013

Maximizing Returns and Handling Missed Payments

By | 2016-10-29T16:36:43+00:00 8:23 am|Comments Off on Maximizing Returns and Handling Missed Payments

Today begins our new series of blog posts examining the various steps of successfully offering payment plans, and how to maximize the effectiveness of your in-house financing program. To begin, we’ll look at various factors that effect your total return on the payment plans you offer. How you can make […]

May 1, 2013

Ophthalmologists: Visualizing Better Financing

By | 2017-01-18T17:32:43+00:00 8:25 am|0 Comments

Many Ophthalmologists enjoy a steady baseline of business, as the majority of services offered (cataracts surgery, canaloplasty, etc.) are essential, vision saving endeavors, and are often covered by private insurance, Medicare or Medicaid. However, other procedures or upgrades offered by Ophthalmologists, such as Lasik Surgeries and lens upgrades can benefit from 

April 22, 2013

Optometrists: Seeing Past the Competition

By | 2016-10-29T16:36:44+00:00 8:30 am|0 Comments

With the plethora of discount online suppliers of glasses and contacts, many Optometrists see customer loyalty as a growing challenge to their business. It has become common practice for patients to patronize an Optometrist for an eye-exam, and then take the prescription to whichever online retailer offers the best deal […]

April 15, 2013

Financing with Surgery Centers to Maximize Volume

By | 2017-01-18T17:34:45+00:00 8:32 am|Comments Off on Financing with Surgery Centers to Maximize Volume

As we mentioned previously, in-house financing can be a powerful tool for Cosmetic Surgeons, allowing them to take control of their patient financing and increase revenue, while saving payments to third party financiers. While down payments on these financing plans are often dictated by the hard costs involved (surgery center, anesthesiologist, […]