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 […]
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 […]
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 […]
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 […]
PiP Frame Strategy: Balancing Profitability and Signature Style while ‘Only pay for what you need’
Like Liberty Mutual says in their commercial “Only pay for what you need.” PiP has applied that strategy to managing your frame inventory. In the ever-evolving world of eyewear fashion, finding the perfect balance between a recognizable name brand and stylish yet profitable options is key. This delicate equilibrium is beautifully exemplified by the trend-setting […]
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 […]
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 […]
Negative Online Reviews? No sweat!
Sometimes, despite your best efforts, a patient will have a less-than-positive visit and write a bad review. While critical reviews are never welcome, when one occasionally gets posted there’s no reason to despair. Online reviews have been around long enough that more people discern they are only one person’s opinion—an opinion which they may or […]
Good investments result in high profits
Sometimes deciding what areas to invest in feels as random as a game of spin the bottle. While there is an element of chance in any new business improvement or expansion, finding out what has worked for others can give valuable insight. Here are the top three recent investments that have given us the greatest […]