Case Study: How to Win as the Higher Fee Option

If you have not already done so, in the near future it is likely that you will find yourself competing for cases with GPs who are offering treatment to their patients, usually for a lower fee than you would charge for a comparable case. The “pitch” is that the patient is getting the same thing that you provide – appliances – for less money.

Yesterday one of my Canadian client’s TCs provided me, as part of my coaching and mentoring program with her, with a recording of a recent consult between her and an adult female treatment candidate. 

Since the TC won the case with a fee in excess of four thousand dollars of what the visitor had found in comparison shopping, it is worth dissecting what she did to make this happen. Here is a synopsis of the recorded consult:

• When asked to select a payment plan, the visitor hesitated, then said “probably Option 3″ (the low-down-payment option). This let the TC know two things immediately; first, that the visitor was sensitive to financial pain when it came to financing arrangements, and second, the visitor was not yet (“probably”) convinced to move forward.

• The visitor then informed the TC that her research indicated that she could go ‘elsewhere’ to low-cost providers in the area and have the same service provided for a fee of five to six thousand dollars.

• The TC empathized (“I understand”), then educated the visitor on the difference between having a dentist provide this service versus an orthodontist and explained why “you are not getting the same treatment”. She also stepped up as an advisor: “I would suggest going with a specialist.”

• The patient asked if braces were a less expensive option (they were, but only by a few hundred dollars, which did not interest the visitor). This let the TC know that the patient, while price sensitive, wanted to be treated at the practice. In other words, they had been selected, and the decision was now no longer yes or no, but how.

• Rather than do what many TCs have been taught to do – blindly guess (“would that work?”) at what the patient would accept for payment terms – the TC instead clarified the patient’s needs by asking some good probing questions:

“What would you be comfortable with for a monthly payment?” The answer: $300 a month.
“And what is the highest down payment that you can afford?” The answer: $1200.

Now the TC had something to work with.

• The TC, after running some numbers, countered with a monthly payment of $360 and asked for approval: “would you be interested in doing that?” The answer: yes.

• The TC then asked for a commitment to move forward: “If the doctor approves these arrangements, would you be able to start today?” The answer: yes.

• The TC took her proposal to the doctor, it was approved, and the patient started on the spot.

What can we glean from this case, won at nearly twice the price of the competition?

• Educating the patient is the key. Help your visitors make a well-informed business decision. The low-cost-competitor’s best patient is an uneducated buyer.
• Do less talking. Ask good questions, and listen.
• Don’t be afraid to ask for commitment as part of a negotiated compromise. That is not being pushy. That is being a good business person, and your visitors will respect you for the way you handle yourself.
• Most importantly, step up and be an advisor. Visitors view you as the expert. Act like one.