MBA Intelligence

August 30, 2011

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

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Ziegler

Sticky Situations

Dr. Dave Ziegler

A patient asks...

"Why do these contacts cost more than my old ones? Aren't they all about the same?"

I personally like getting a question like this because it gives me the opportunity to educate a patient about something they don't know. However, you have to wonder why the question is asked in the first place. It means that a patient hasn't been adequately informed.

My patients have come to expect that when we examine their eyes and fit their contact lenses we will present something new to them each year. It's not uncommon for the patient to tell me, "What do you have new for me this year?" They know we are involved in clinical research and that we always use the newest and best products. It is rare for patients to leave with the same product they came in with.

At each annual exam, it is important to update your contact lens wearers about new products. How you position new contact lenses allows you to differentiate yourself from the competition and create a value proposition to your patients.

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Dr. Dave Ziegler, who lectures and publishes regularly, is a member of the MBA Faculty.

New...

On MBA-ce.com


New MBA Program on World Class Staffing


A new MBA program on staffing will premier this fall with symposia held in both Florida and California. The program, “Total Practice Success: A Symposium for a World Class Staff,” was created by the Management & Business Academy™(MBA), sponsored by CIBA VISION and Essilor.

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Video: MBA Practice Building Pearl

"Preset Your Patients to Purchase" Mark Wright, OD, FCOVD

Mark Wright, OD, FCOVD


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How Does Your Practice Compare?

How Does Your Practice Compare

65 Percent of Eye Exams Are Discounted

Both new and established independent optometric practices report that a median of 65 percent of the eye exams they perform are provided at a discounted fee as part of a managed care insurance plan. This ratio varies widely across practices.

 

Market Facts

Market Facts

Nearly One-Third of Contact Lense Wearers Sleep with Lenses On

A 2010 Jobson survey of contact lens wearers indicates that 31 percent of fulltime wearers sleep with their lenses on, at least occasionally. Some 22 percent of full-time wearers sleep with lenses on during most days of the week.

Spotlight on...

Best Practices of Contact Lens best practices

Management

Independent ECPs achieve higher sales and gross profit per box for monthly replacement lenses than for two-week lenses. For clear spheres, for example, average retail price per box was $27.35 for monthly lenses compared to $16.21 for two-week lenses in late 2009 — a 69 percent premium. Average gross profit per box for monthly spheres was $24.81 per box compared to $14.18 per box for two-week lenses — a 75 percent advantage for monthly lenses. Independents achieve the highest gross profit margin on toric lenses and somewhat lower margins on daily disposable lenses.

Best Practices of Contact Lens Management

MBA Updates

Upcoming MBA Seminars:
COPE approved lectures

MR


MBA: World Class Staffing:
Fort Lauderdale, FL.,
September 16-17 &
Berkeley, Ca.,
October 28-29.
Info: www.primaryeye.net/pio

Vision Expo West:
Las Vegas, September 24-25.
Info: www.visionexpowest.com

MORE MBA DATES»

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Neil

Ask Neil

Dr. Neil Gailmard

A doctor asks...

"What should I do to thank or reward patients who make a referral that generates a new patient exam?"

First, we need a system that asks for the referred-by information, and then we need to track and process the information on a specific schedule. Most practice software systems have a provision for this. You can put the question on your new patient history questionnaire and run the program on a weekly basis. I like to use, "Who can we thank for referring you to our practice?"

The practice management software can generate a customized letter that you can print on office letterhead, or it can print labels that you can use to address a thank you card that is hand written. Both are nice, and they should mention the new patient's name. I like to enclose a $5 Starbucks gift card and two business cards with the message. We are moving to email for most communications, but this is one task where I still prefer to use U.S. mail because of the enclosures.

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Dr. Neil Gailmard, who is widely known for his practice management advice, is a member of the MBA faculty.

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About the MBA

The Management & Business Academy™ (MBA) is a professional education program, sponsored by CIBA VISION and Essilor, dedicated to assisting independent optometrists to improve business management processes. MBA conducts live seminars, conducts on-going research to establish national optometric practice performance metrics, publishes MBA Insights (a quarterly practice management journal) and maintains www.mba-ce.com (a repository of practice management information).

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Copyright © 2011 Management & Business Academy™ (MBA). All rights reserved. Reproduction in whole or in part without permission is prohibited.