At Activeyes, we love simplicity!

So often, practice owners over-complicate, or over-think, key business decisions and activities.

If you want a more efficient, profitable practice, ask yourself the following 5 questions, set your Minimum or Maximum thresholds…and then plan how to achieve these:

 

[1]  What is the MINIMUM number of staff we need to provide the level of service we want to deliver, across the hours we need to trade?

  • Are we adequately staff during our busy periods?
  • Are the right staff in at the right times? e.g. does our most experienced D.O work on Saturdays?
  • How often do we have staff kicking their heels during quieter periods?
  • Do we have flexibility within the staffing hours – e.g to increase during emergencies, holidays, sickness, or to reduce during seasonal lull periods.

[2]  What is the MINIMUM number of patients we need to examine each week to achieve our financial targets?

  • Are we managing the appointment book EVERY day?
  • Is recall activity focused on attracting minimum px numbers?
  • Are all staff aware of daily targets?
  • What measures are taken to prevent no-shows?
  • Do we have a clearly defined policy on walk-in’s?

[3]  What is the MINIMUM number of frame and lens brands we need to display to service all the patients we want to retain?

  • 95% of independent practices have too much stock, too many brands and too much cash tied up!
  • What are my best-sellers?
  • Can I go deeper in the best-selling models/ranges/brands?
  • Which frames are just space-fillers – or were purchased because we like the sales rep, were offered consignment or felt pressured to buy?
  • Which models/brands differentiate my practice from local competitors?
  • Which brands can be supported by attractive point of sale material?
  • Which are my ‘go-to’ lens designs?

[4]  For each frame and lens product, what is the MAXIMUM price I can charge without losing patients we want to retain?

  • Forget your current pricing methodology! Charge what you believe the quality of the product and the expertise you provide in dispensing is worth to your patients.
  • Not convinced? As an interim stage, increase your prices on frames and lenses by 10% tomorrow.  Contact lens re-pricing, due to online sellers and direct debit px’s require a little more planning.  You WILL retain patients AND enjoy a significant increase in profit!

[5]  For each product category (frames, lenses, contact lenses and accessories/solutions), what is the MAXIMUM number of suppliers I need to work with?

  • So, you’ve streamlined your product range and optimised pricing. Now get to work on your supply chain!  Once you know which frame brands and lens designs you want to stock and promote, reducing the number of suppliers you work with is easy!  Benefits include:
    • Spend concentrated into fewer suppliers = better pricing
    • Reduced administration: fewer invoices, less time spent with sales reps etc
    • Stronger relationships with, and better support from, retained suppliers.
    • More profit!
  • Be strong! It is likely you will have staff resistance to these changes – e.g. D.O’s who like to use products outside of your new product & supplier range.

Of course, asking yourself these questions is the easy part.  Setting the Minimum/Maximum thresholds requires careful planning.  Actioning your plan requires real commitment.

Activeyes can help you take these important steps towards a more efficient, profitable practice. Please contact us to schedule a confidential discussion on how we can help grow your business.