Sunbit Featured in Eyecare Business June Issue
Buy Now, Pay Later
With Sunbit technology, optometrists can better address patients’ financial needs.
What if sticker shock wasn’t so shocking anymore? What if your patients had an immediate, easy way to pay for their treatments and eyewear they really want (and need)?
With more consumers interested in the “buy now, pay later” (sometimes referred to as BNPL) model than ever before, it’s not surprising that they want this option for their eyewear needs. Athena Brasfield, OD, CEO of Coachella Valley Optometry, a busy clinic with two locations in Southern California, says that in the past, her financing solutions had been limited, and many of her patients weren’t getting approved.
Since implementing Sunbit, that’s all changed.
Sunbit’s BNPL technology offers patients access to a fast, fair, and transparent payment option. Used right at checkout, it offers patients a variety of payment options, and approves 9 out of 10 patients with only a soft credit check. And it takes only 30 seconds—something that Dr. Brasfield appreciates.
“As a high-volume office, the fact that Sunbit is quick and easy fits well with our practice modality,” she explains. “Knowing that 90% of our patients get approved has also helped us tremendously in terms of how patients feel about applying for financing at our offices. Previously, it was embarrassing and left patients with a negative experience when they were not able to qualify for eyewear they really needed.”
Results To Love
It’s not just the patients who have benefited. Sunbit’s platform helped Dr. Brasfield’s practice to double its capture rate, and second-pair sales have jumped over 60%—a revenue increase of approximately $19,000 per month.
In terms of onboarding staff to use Sunbit, Dr. Brasfield says the intuition of the system has made that easy.
“You can learn how to use Sunbit in under five minutes, which is important because we have a very large team,” Dr. Brasfield says. “In general, our opticians are much happier now that they don’t feel as though they have to make our patients jump through hoops just to be able to finance their eyewear.”
Dr. Brasfield says that she has the front desk staff introduce patients to Sunbit when they first come in. By the time they get to the sales floor, they’re already primed on what it is and how it can help. As a result, she says it has improved the overall patient experience.
“It left patients with a bad feeling when we were telling them about products that they needed but that they couldn’t afford it and they weren’t approved for financing,” she says. “Now, they’re able to also finance lens cleaners, eye drops, eyewear accessories, and other products that we sell in addition to their eyewear. They’re able to fully implement their treatment plan. This has changed the entire patient encounter to being much more positive.
“Offering payment over time is incredibly appealing to patients,” Dr. Brasfield adds. “When you give them the out-of-pocket cost of fulfilling the whole treatment plan, it can give them sticker shock. But when you break it out over a period of time, it becomes much more manageable and desirable. It’s the way of the future, and a necessity for our industry. Optometrists must adapt and find financial solutions that will work for their patients.”
View the article in Eyecare Business’ June 2021 issue on page 2.