Ophthalmology Business

SEP 2017

Ophthalmology Business is focused on business topics relevant to the entrepreneurial ophthalmologist. It offers editorial, opinion, and practical tips for physicians running an ophthalmic practice. It is a companion publication of EyeWorld.

Issue link: http://digital.ophthalmologybusiness.org/i/863388

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Page 1 of 27

In 2015 , Millennials surpassed Baby Boomers as America's largest living generation. 1 Born from 1981 to 1997, these young adults are candidates for LASIK — they can enjoy a lifetime without the hassle of glasses or contacts. With a population of 75.9 million, 1 they represent an opportunity to grow your LASIK business for years to come. The key is in understanding how (and where) to connect with Millennials to attract them to your practice. Meet the search-savvy generation. Sometimes called the "Social Generation," Millennials are digital natives that grew up with the Internet. It should come as no surprise that 86% of adults age 18-29 use at least one social media site. 2 The dramatic shift in technology that put everything at their fi ngertips has created an expectation for instant answers. To help meet this need for constant access to information, Medical Eye Center features a 24/7 live chat on their website. "If they're researching LASIK during the day, they're less likely to pick up the phone and call our offi ce," said Patty Casebolt, Clinical Director for Medical Eye Center. "They want to research and get their information electronically." With social lives that are always on(line). A strong social media presence is a must for vision practices that want to attract Millennials. It's all about having a conversation with your patients. "It's not necessarily about coming in to have LASIK, it's becoming part of their conversation in their social group," said Cathi Lyons, administrator for Gordon Schanzlin New Vision Institute, a TLC Laser Eye Center. While social media can be a fun way to share your practice's unique culture, it's important to communicate Many Millennial patients value online appointments and payments in doctor selection. 4 1 Millennials Overtake Baby Boomers as America's largest generation, Pew Research Center, April 25, 2016. 2 Social Media Fact Sheet, January 2017. Pew Research Center. http://www.pewinternet.org/fact-sheet/social-media/ 3 Generational Health and Well Being Research, 2016, Conducted by Chadwick Martin Bailey on behalf of CareCredit. 4 2015 State of the Connected Patient, Salesforce. This content is subject to change without notice and off ered for informational use only. You are urged to consult with your individual business, fi nancial, legal, tax and/or other advisors with respect to any information presented. CareCredit, Synchrony Financial and any of its affi liates (collectively, "Synchrony") make no representations or warranties regarding this content and accept no liability for any loss or harm arising from the use of the information provided. Your receipt constitutes your acceptance of these terms and conditions. This insert was independently produced by CareCredit. Ophthalmology Business had no part in its production. The views expressed here do not necessarily refl ect those of the editor, editorial board, or the publisher, and in no way imply endorsement by Ophthalmology Business. LASIK 80% of Millennial consumers use Google search for healthcare decisions. 3 to your team what is appropriate to post. "Millennials love that social media isn't serious all the time. But they're still patients and they expect staff to be professional," Casebolt said. The in-practice experience still matters. Millennials may spend a lot of time online, but they still value good customer service. They want to feel like their concerns are heard and their needs are met. "Millennials want to know they're being cared for, that they're getting the best value for their money," said Lyons. Cost is a common concern that can keep patients from scheduling their LASIK procedure. A recent study found that 48% of consumers 25-34 said they are more likely to delay an elective procedure because of cost. 3 Financing options like the CareCredit health, wellness and personal care credit card may help patients move forward with their procedure. In order to grow your practice into the future, it's important to understand this generation's concerns, and address them through your website, on social media and in your practice. This will help them feel comfortable referring you to their friends and family — giving you a chance to expand your own "network" of loyal LASIK patients. To learn how to engage eff ectively with every age group, call the CareCredit Practice Development Team at 800-859-9975, option 1, then 6 to request Generational Insights Series Quick Guides. Engaging the Next Generation of LASIK Patients: Millennials PART 1 First in the Generational Insights Series. OPBUS0917VA ADVERTORIAL

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