Lifetime Vision and Eye Care Sees 178% Increase in Financing Revenue Through Sunbit
This successful private practice encouraged patients to take advantage of high approval rates through Sunbit’s buy now, pay-over-time technology, resulting in an increase in incremental revenue compared with traditional medical credit cards.
See It In Numbers
Miami-based Optometrist Dr. Benjamin Thayil enjoys keeping himself up-to-date on the latest practice management trends. Although his practice, Lifetime Vision and Eye Care, offered financing through a medical credit card, when he heard about Sunbit, he wanted to see if it improved his bottom line.
Patient Approval Rates Soar
During the first three months offering Sunbit technology, 95% of patients were approved for financing. This represented a 70% increase over the number of patients approved through traditional medical credit cards.
Not only did higher approval rates mean more patients could get the eye care and eyewear they needed, but the staff felt more confident using Sunbit, knowing that patients had extremely high approval odds. Dr. Thayil’s staff also appreciated the ease and simplicity of Sunbit technology—with one scan of a patient’s government-issued ID and a 30-second process requiring only a soft credit check, a patient’s payment plan options were available.
High Patient Approval Rates Lead to Incremental Revenue Growth
With increased patient approvals, Lifetime Vision and Eye Care experienced a corresponding increase in practice revenue.
“From day one, Sunbit has been a game-changer for my business. In the first two full months offering Sunbit technology, we generated $16.2K in additional revenue—compared to $5.8K in revenue with traditional medical credit cards! There is no other tool that helps me increase the average order value to make the most out of every patient visit. My staff proactively uses Sunbit technology to help more patients every day,” said Dr. Benjamin Thayil.
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