BUSINESS 101

Doctor-Recommended Beauty Regimen

Selling cosmeceuticals presents a great business opportunity for eyecare practitioners

the popularity of anti-aging and beauty-enhancement products has been on the rise and it’s safe to say the trend isn’t going away. With interest in these types of products growing, an entirely new category has been born. The marriage of cosmetics to pharmaceuticals has created a new category of products: “cosmeceuticals.”

A NEW CATEGORY

Cosmeceuticals are beauty products that also claim to have a medical value—typically anti-aging abilities. This category is certainly ripe for dermatology offices, but with eye-related cosmeceuticals gaining traction, they also have a home in eyecare practices.

“Cosmeceuticals are definitely a good fit for the eyecare market,” says Kathryn Ann Reynolds, O.D., of Clarkson Eyecare, a multi-location practice in the St. Louis area. “Aside from being a profit center, cosmeceuticals help generate good will and build patients’ trust.”

She says that in a general sense, cosmeceuticals aren’t going to be a huge revenue driver for a practice. But they are a nice add-on that can create some extra profit.

So while they won’t single-handedly make a practice rich, there are a number of additional benefits that make selling cosmeceuticals worthwhile. Among those benefits is building patient relationships.

“I often have patients ask me what products I recommend to use on the skin around their eyes,” Dr. Reynolds says. “Sometimes I have patients come in who are having issues with their contact lenses and it’s because of (a skincare) product getting in their eyes. In the same way that our practice sells contact lens solution at a better pricepoint than the grocery store so that we know exactly what the patient is using, it makes sense to sell cosmeceutical products we believe in and would recommend right here at the office.”

NATURAL SELLING BRIDGE

Among the cosmeceutical products that Dr. Reynolds sells through her offices are OcuDerma eye gel, a skincare treatment for the area around the eyes that helps eliminate fine lines, and Lash Advance, a product that promotes healthier lashes and brows.

Samuel J. Alioto, president and CEO of MediNiche, the company that makes both of the aforementioned products, says that the optical dispensary is the ideal place to sell eyecare-related cosmeceuticals.

“It’s a natural selling bridge,” Alioto says. “If the doctor is looking at a patient’s eyes and notices they have dry skin or sparse eyelashes, it’s natural to bring up possible solutions. It can be brought up in the chair and sold in the dispensary. If you have patients coming into the optical shop environment, you already know they are looking for high-fashion frames. But those same patients also care about their skin and a youthful appearance.”

BUILDING TRUST

“Patients trust my opinion over the opinion of a non-medically trained department store worker,” Dr. Reynolds says. “As a result, they are more likely to continue to buy cosmeceuticals from the office.”

She adds that she finds patients will come back to the office between scheduled exams to pick up refills of the cosmeceutical products. And that, she says, may be the number-one benefit.

“Any time you can get the patient in the door between visits is a great opportunity. With healthy patients we may not see them for an entire year, so having them stop in is an opportunity to check in and maybe schedule a family member’s appointment or browse the dispensary. Anything that gets patients in the door more often is a step toward building a successful business,” she notes.

A GROWING REVENUE CENTER

Not every eyecare professional is enamored with these ancillary products, and many doctors have avoided these types of sales.

But Dr. Reynolds speculates that is changing.

“Traditionally there has been this mentality in optometry that you shouldn’t sell or promote products to your patients,” the optometrist says. “Frankly, I think that’s more of a disservice to the patient than any sort of favor to them. It’s certainly not helping them when they’re going to buy these products on their own.”

Dr. Reynolds believes it’s prudent to have patients buy something that is doctor-recommended and safe to use around the eyes as opposed to sending them out to find products on their own.

“I believe the whole mentality of avoiding product sales is going by the wayside as more professionals recognize the benefits of promoting products they believe in,” she adds.

In order to be successful with this category, Dr. Reynolds says that the pricepoint is truly a key to success. It can’t be too high or it will just drive patients to buy the product elsewhere.

Retail Tips

Increase patient interest in cosmeceuticals in several ways, including:

WEBSITE/SOCIAL MEDIA. Let prospective patients and followers know what you have.



FRONT DESK. Brochures about cosmeceutical products at the front desk can get patients’ attention as soon as they sign in. They’ll be thinking about the products they use, and will likely ask your opinion in the exam.



EXAM ROOM. Continue reaching out to patients through brochures or posters in the exam room.

“There’s no better marketing than that conversation starter,” says Kathryn Ann Reynolds, O.D., of Clarkson Eyecare in St. Louis.

“You have to remember the additional value involved in having them buy products from you as you set an affordable price point,” she says. “Building trust and getting patients in the door more frequently are very beneficial.”

But there is profit to be made as well, and selling cosmeceuticals adds a nice profit boost to the bottom line.

“There are so few ways to do that in optometry,” Dr. Reynolds adds. “There aren’t a ton of opportunities for eyecare practices to add additional revenue, and this is an easy one. It doesn’t take a lot of time or work. In many cases the products sell themselves simply by being on display. It’s a no-brainer.”

— Lindsey Getz