Pricing: What LASIK Surgeons Learned from Plastic Surgeons

A Case Study from SM2 Strategic

 

Issue:

“Discount LASIK” was emerging in across the US and hurting perceived value of the procedure among patients and consumers.

As average surgeon fees were lowered, procedure volumes actually dropped.

 

Solution:

SM2 demonstrated that the market demand for LASIK was “inelastic” and could not be increased through lowering of price.

Comparing LASIK demand with that of similarly-priced breast augmentation (which did not suffer the same consequence of price lowering) helped LASIK surgeons understand the role that price plays in their offering.

 

Result:

LASIK providers began raising prices as new technology emerged to improve outcomes; prices held up during the 2008 recession and average fees charged have remained at that level since.

While procedure volumes have not recovered to their peak levels of 2001 and 2008, LASIK remains the most-performed elective surgical procedure worldwide.

 

Links:

Retail Pricing in Refractive Surgery

Retail Pricing in Refractive Surgery Part II

Retail Pricing in Refractive Surgery, Part III

How Perceptions of Money and Pricing Influence Demand for Refractive Surgery