Preparing for Vision Expo West 2024: A CEO’s Guide to Maximizing Innovation and Networking
As the CEO of a practice with five locations and nine doctors, attending Vision Expo has become a pivotal part of my year. With the event just over a week away, I’m gearing up for what is always a highlight in my professional calendar. Here’s how I prepare for it, focusing on innovation, efficiency, and […]
Busy-ness: The Enemy of Finding a Better Way
“How are things going for you?” is a question we often hear in the hallways of professional gatherings, and more often than not, the response is a resigned, “Busy.” For owner optometrists managing multiple facets of a practice, this busy-ness becomes a default state, not just an occasional phase. The whirlwind of patient care, employee […]
Why working Smarter not Harder is essential to growing your practice’s profits
How much of every dollar you earn remains in your pocket? If it’s just a nickel, it’s time to reconsider how you’re managing your practice. Transforming these earnings into a quarter for every dollar isn’t just about working harder—it’s about working smarter. The True Cost of Being “Busy” We’ve all answered the question, “How are […]
Drilling Down on Cost of Goods: Key Strategies for Optometry Practices
Profitability within the optometric profession is more challenging than ever. As independent owner O.D.s, we find ourselves in a deflationary period due to decreasing reimbursements from insurance companies and increasing competition within the optical marketplace. Simultaneously, we’re experiencing the most significant inflationary period in the last three decades, with rising costs of utilities, rent, goods, […]
Revolutionizing Frame Inventory Management for Optometry Practices
In the evolving landscape of optometry, staying profitable requires innovation, adaptability, and a keen eye for emerging trends. I’m Dr. Chad Fleming, and with over two decades of experience in private practice and managing multiple locations, I’ve seen firsthand the importance of evolving our approach to remain competitive and profitable. Today, I want to share […]
Keeping Vendor and Product Flexibility Within Your Practice
Keeping Vendor and Product Flexibility Within Your Practice In the business world, one of the greatest strengths is the flexibility and maneuverability among vendor suppliers. Balancing product quality with vendor relationships is not always easy, but it is attainable. Historically, independent optometrists have sought single vendor relationships to minimize change management and reduce the overall […]
Never Too Busy to Be Curious
Everyone is busy. But are we all busy with the right things? I’ve spoken with many colleagues who say they are “extremely busy.” However, after delving into what they’re busy with, I’ve come to realize that their busyness is an addition problem that really should be a multiplication problem. Multiplying our efforts is essential for […]
Maximize Lens Choice to Elevate Optical Profitability
The Impact of Vision Care Plans on Practice Revenue In the current optometry market, the proliferation of vision care plans represents a significant share of our patient demographic. This shift places greater emphasis on the strategic selection of lenses in your optical to ensure financial health. As inflation drives up overhead costs, managed vision care […]
Maximizing Your PiP Membership to Slash Shipping Costs
As a valued member of the Partners in Profit (PiP) community, you’re already ahead of the curve in revolutionizing your practice’s operations and profitability. But are you leveraging every facet of your membership to its fullest potential, especially when it comes to minimizing shipping costs? The Consignment Model Advantage: Transitioning from traditional frame buying to […]
Overcoming One of Owner ODs’ Biggest Barriers to Increasing Their Practice’s Net Income
Overcoming One of Owner ODs’ Biggest Barriers to Increasing Their Practice’s Net Income “It’s how we’ve always done it.” “That feels like it’s going to take a lot of time.” “My staff aren’t going to like it.” The Dual Role of the OD Owner Private practice owner ODs carry a heavy load, constantly balancing the […]