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 […]
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 […]
70 pairs sold: An optical success story
In one month, our optical department sold 70 pairs of glasses to cash-paying customers. This success story isn’t a fairy tale, it’s fact. Like a lot of small optometric offices, we believed we couldn’t make much of a profit on optical. We assumed that most patients who have managed vision plans would shop around and […]
Frame Board Management: A New Normal
The optical industry flourishes because it dictates the rules of how frames are sold. Opticians purchase large inventories of product and hope to sell it. If the product does not sell, then it is returned for other product. This method greatly favors the eyeglass vendor. The optical owner, whether optometrist or optician, bears the risk […]
Innovation Fueling 18% COGS
Innovators love ideas and innovative optometrist love metrics, especially metrics that prove creative endeavors rewarding. One doctor, a fellow member of Partners In Profit (PIP), recently said: “I looked at our numbers and I was shocked. Our COGS were at 18%. 18%! We’ve never seen those kinds of numbers.” Those kinds of numbers are only possible […]
Improving patient eye care through clinical scribing
Three years ago, I was approaching burnout. I was seeing 18-20 patients per day in my optometry clinic and I thought my fingers were going to fall off from constant charting. Patient care was suffering because I spent more time in front of the computer screen than I did talking to patients. When I chose […]
Edging when you don’t have a lab
The most profitable and effective way to manage an edging-only lab is to partner with an edging company that is knowledgeable and reasonable to do business with.
How to cut $500 each month from your optometry practice expenses
Successful businesses constantly evaluate systems. Recently, our optometry practice decided to eliminate our traditional telephone system. We realized every doctor and staff person already had a phone in front of them that they were not using—their computers. We were able to eliminate the cost of a telephone system and monthly per line rates by switching […]