Choosing the right pricing model is essential for businesses looking to expand their supply chain. The fixed pricing model is a simpler way to manage the supply chain, but the usage-based pricing model has become the most popular and efficient way for businesses to price their products. Membership billing management helps make pricing more organized and clearer, which makes it easier for people to keep track of their bills.
Cash-Based Services Using Usage-Based Pricing Model
More and more cash-based services are adopting usage-based pricing models because they streamline business operations by charging clients per their actual consumption of a given good or service.
Use-Based Billing vs. Fixed Pricing
In contrast, a fixed pricing model does not allow for price fluctuations over time. Compared to a model of fixed pricing, usage-based billing’s primary benefit is that it incorporates customer feedback and market insights.
Benefits of Usage-Based Pricing Model
Customers subscribing to a pricing model determined by the amount of product or service usage only get charged for that amount. The bill for the product or service is delivered to the customer at the end of the billing cycle. Regardless of how frequently they use the service, users who pay via subscription always pay the same monthly bill.
Monthly Recurring Revenue
PlanSplit facilitates the effective sale of plans, packages, and memberships depending on customer use, hence increasing providers’ recurring monthly revenue (MRR). To reward patronage, businesses provide extra incentives. PlanSPlit allows for enhanced communication between care providers and patients, resulting in improved health outcomes.
Recurly and Chargebee
For entrepreneurs looking to capitalize on growing trends such as SaaS subscription software, the billing processes of Recurly and Chargebee are highly complex. Chargebee’s pricing structure, for example, has four models: Launch, Rise, Scale, and Enterprise. Recurly also offers customizable plans under Core, Professional, and Elite categories. Using PlanSplit, the entire billing process is mechanized and backed by humans.
PlanSplit PlanSplit for Med Spas
One-time discounts, coupons, and Groupons are effective at attracting new patients but ineffective at retaining existing patients. With PlanSplit, however, med spas can offer and create a variety of med spa memberships, plans, and packages that help their customers save money over a three- to twenty-four-month period. Customers get more value and easier payments without credit checks from providers. Additionally, during registration, payment collection, renewals, and cancellations, PlanSplit streamline and expedites the billing process and creation of custom plans.
PlanSplit Health Wellness Plans 