MBA Intelligence

October 30, 2011

Bi-weekly information and advice to manage optometric practices
from the Management & Business Academy™ (MBA)

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MBA Practice Building Pearl

Mark Wright, OD, FCOVD on
"Sit Beside Your Patient"

Mark Wright, OD, FCOVD

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How Does Your Practice Compare?

Performance appraisals are performed in two-thirds or more of practices; Staff uniforms are work in 40 percent or fewer of practices.

How Does Your Practice Compare?

 

Market Facts

Market Facts

Independent ECP Average Frames Sale Higher than Other Optical Outlets

Vision Watch consumer surveys show that the average price paid for a pair of frames purchased at an independent ECP during 2010 was $137 – 23 percent higher than the average price paid at chain optical locations. Consumers paid the lowest average amount for frames when buying at mass merchandisers. The average value of a pair of frames purchased at independent ECPs during 2010 was unchanged versus 2009.

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Spotlight on...

Best Practices of Contact LensBest Practices

Mangement

Over the course of a year, lowering transaction costs has a big impact on practice profits. When a $750,000 practice dispensing 2,908 boxes of lenses per year reduces average transaction cost by $1.50 per box, this lowers costs by $4,632 annually, not including shipping and handling cost reduction.

Best Practices of Contact Lens Management