MBA Intelligence

September 15, 2011

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

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How Does Your Practice Compare?

How Does Your Practice Compare

10 Percent or More of Independent Practice Patients Buy Eyewear and Contact Lenses Elsewhere

Optometric practice owners estimate that 10 percent of their contact lens and eyeglass wearing patients take their prescription elsewhere for filling. It is likely that owners overestimate their capture rate of the device purchases of patients and underestimate walk-outs. Jobson Optical Research surveys show that independent ECPs account for two-thirds of eye exams performed, but 55 percent of contact lens sales and 49 percent of eyeglass sales. These data suggest actual capture rates among independents of 82 percent for contact lenses (18 percent walk-out) and 73 percent for eyewear (27 percent walk-out).

 

Market Facts

Market Facts

Most Contact Lens Wear Initiated With Patient Request

Seventy-four percent of current contact lens wearers say they began to wear contact lenses after going to an ECP and requesting trial. Just 19 percent began wearing lenses as a result of an ECP recommendation.

Spotlight on...

Best Practices of Spectacle Lens best practices

Management

A 2009 Essilor consumer study, with the sample weighted heavily to retail optical chain buyers, shows an average eyeglasses transaction of $204. Pairs with a retail price at more than $250 accounted for 31 percent of units and 51 percent of sales, while pairs selling for $150 or less accounted for 44 percent of units, but just 23 percent of retail sales.


Best Practices of Spectacle Lens Management

 

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Super Service Pearls

Daily Huddles Increase Staff Alignment with Practice Mission

A daily huddle with managers and frontline people before the start of each shift is a technique used by Ritz Carlton and many other premier service companies.

At Ritz Carlton, a 15-20 minute daily "line-up" is used to instill the corporate mission to deliver exceptional guest experiences, convey organizational announcements, celebrate exceptional service incidents and share inspirational quotations from famous leaders. During the brief meeting, everyone remains standing, which assures focused attention and that the line-ups will be short. Ritz Carlton considers these daily meetings indispensable to demonstrate management's commitment to its core values.

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