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Objection Clinic: "Your Fees Are Too High"

Every practitioner has heard that objection any number of times. But it's not that the fee is too high; just that the perceived value is too low.

Cost is arrived at in the patient's mind by considering what he or she gets compared to the money paid. Here's how to show the true value of your services to overcome this common objection:

Price/Value = Cost

Value is the total package of benefits you have built up for the prospect. When someone raises a price objection, it's almost always because the front desk or practitioner hasn't established the value compared to the competition.

How to Apply the Price/Value Formula:

1. Probe the objection. Find out why the prospect said it. "Why is this too much?"

2. Translate features of your service and practice into advantages. Then tell them how those benefits personally improve the prospect's life.

3. Help each prospect to work out the formula. Build up the value and lower the cost. Don't change the price.

4. Compare your Price/Value Formula to that of the competition. Emphasize benefits you offer which your competitors do not.

5. Remember — patients buy on emotion and justify with facts (your practice's benefits) and you are part of the package the prospect is getting.

6. Prospects fear "cheap" services. Does "Dr. Jones Cosmetic Surgery — Bring Us Any Price and We'll Beat It!" sound like a good bet? Would you entrust your health to "Joe Smith, MD – Cheapest Ob/Gyn in Town!"? After all, if value were just about low cost, K-Mart would rule the mass-merchandising world. But they don't. Once prospects understand all the unique benefits and high value you offer them, they will reward you with more business, greater referrals and steadily-increasing revenue.

7. Explain this formula face to face or on the phone, if necessary. Even script it out for the front desk. Train them. Have them practice. Have friends call to test them.

8. And don't ever let a prospect compare you on price alone. If you do, the lowest price often wins.