There’s a widespread belief that zero-interest payment plans are too expensive to the practice. But the reality is interest-free payment plans cost the practice almost exactly what a cash discount costs.
Marie Olesen, CEO, and Janelle Robinson, COO, of La Jolla Cosmetic Surgery Centre return to Practiceland to share their journey from treating payment plans as a last-resort conversation to leading with them.
To implement the shift, they started small and tested by leading with payment plans for a full quarter, then six months, and watched applications climb from 20 percent of consults to 50 to 60 percent. That shift resulted in the biggest year in the practice's 36-year history.
Questions answered by this episode- What is a payment plan for plastic surgery?
- How do interest-free payment plans work for cosmetic surgery?
- Is it worth offering payment plans instead of discounts?
- Should a plastic surgery practice charge for consultations?
- What is a soft credit check for medical financing?
- How many hours a week does a plastic surgeon actually operate?
- How do you ask a patient how they plan to pay without sounding rude?
- Can payment plans increase the average size of a surgery case?
- What percentage of consults should include a financing application?
- Why do some practices treat payment plans as a last resort?
Marie OlesenCEO, La Jolla Cosmetic Surgery CentreMarie has spent her entire professional life helping good doctors take better care of their patients and helping patients find the good doctors. When Marie's husband, R. Merrel Olesen, MD, founded LJCSC in 1988, there was little understanding of the needs of cosmetic patients. To make sure their patients were happy, Marie began surveying LJCSC patients and has done so continuously for 31 years. A self-admitted data junkie, she loves exploring patient feedback for insights that can help LJCSC and other practices better serve their patients. She is known as an innovator in cosmetic patient care and communication. She is an author, speaks nationally and internationally, and serves on the Board of the Center for Services Leadership at Arizona State University.
Connect with Marie on LinkedIn
Learn more about La Jolla Cosmetic Surgery Centre
Janelle RobinsonCOO, La Jolla Cosmetic Surgery CentreAs the Chief Operating Officer, Janelle keeps things running smoothly at La Jolla Cosmetic Surgery Centre. She's in charge of the day-to-day operations, from handling patient financing to making sure everything is in place for patients to receive top-notch care.
Connect with Janelle on LinkedIn
Learn more about La Jolla Cosmetic Surgery Centre
Eva SheieFounder & Podcast Producer, The AxisEva Sheie is a startup veteran, content strategist, podcast producer, and professional musician. She is the founder of The Axis, a podcast production agency devoted to meeting the needs of women confronting life-changing medical decisions. Previously as the Director of Practice Development at RealSelf, she built and scaled the RealSelf University customer education program, and hosted the RealSelf University Podcast. Today she is the host of Meet the Doctor, co-host of Less of You, and the executive producer of numerous titles on behalf of clients, including Practiceland.
Learn more about The Axis
More from PracticelandMissed the episode Marie and Janelle mention on reviews?
Listen to Prevent Bad Reviews Before You Get Them.
And for more of Janelle's coordinator-level playbook on talking about money, check out The Words That Open Wallets and From Awkward to Cha-Ching: The Ultimate Guide to Talking About Money in Aesthetic Practices.
Practiceland is presented by PatientFi — the patient financing partner built for aesthetic practices. PatientFi gives your patients access to flexible payment plans and gives your team the tools to offer financing confidently, without the awkward money conversation.
Learn more at patientfi.com/aesthetics
SHE DID WHAT?Got a wild customer service story or a sticky patient situation to share? If your tale makes it into our "She did what?" segment, we'll send a thank you gift you'll actually love. Promise, no cheap swag here. Send us a message or voicemail at practicelandpodcast.com.
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Host: Eva Sheie
Producer: Eva Sheie @ The Axis
Assistant Producer: Mary Ellen Clarkson
Engineering: Chris Mann
Theme music: Full Time Job, Mindme
Cover Art: Dan Childs
Practiceland is a production of The Axis: theaxis.io