The One That Got Away
This OLA-sponsored article looks at ways to keep the Rx in-house
By Alex Yoho, ABOM

There are probably a million metaphors that link business to fishing, but none pertains to eyecare more than "catch and release." Why? Because some ECPs seem to have forgotten that the point of being in business is to make a living at it.

Walt Kelly's Pogo put it best when he said to Porkypine, "Yep, son, we has met the enemy and he is us."

CAPTURE RATE

Between six and seven out of 10 eye exams are conducted by independent eyecare professionals, yet those same ECPs retain less than half of the eyewear sales.

Despite the fact that the largest retail chains capture only 15 percent of eye exams, they manage to hook about 30 percent of eyeglass sales.

The independent ECP is losing an estimated $4 billion in eyewear sales per year in the U.S. Add to that all the consolidations and strange bedfellow acquisitions, plus the managed care programs that cover half the U.S. workforce, and it's clear that you need to differentiate yourself from your competition. The key: Recapturing the ones that got away.

We've been wrestling with this for years, and the bottom line is that some ECPs have made the decision to change the paradigm and, as a result, have become successful.

LIFESTYLE DISPENSING

Any OLA lab will tell you that they have some accounts that are extraordinarily profitable, regardless of their geographic setting. What could they be doing that really hooks the patient? They are implementing ideas that have been around since the early days of lifestyle dispensing.

It doesn't take that much improvement to dramatically impact revenue. Studies show that improving your retention rate by five percent can improve your bottom line by as much as 85 percent.

So, what's the problem? At the OLA show in Nashville, the point was brought up that if we could call it anything but lifestyle dispensing, then maybe independent ECPs might take another look.

OLA laboratories have long been advocates for the independent eyecare professional and have developed ECP-friendly business programs.

Let's look at building the business end of your practice. In optical, academia has shifted away from dispensing, business essentials, and actual time with patients and moved to laser technologies and pharmaceutical training.

The graduate is technically prepared, but often finds a high learning curve when growing business.

STUDY SATISFACTION

The number one goal is patient satisfaction--not just with the doctor, but with the entire staff. This is a goal that demands ongoing attention. If you think your patients are pretty satisfied with their experience, that's great. Now pick up the phone and ask your OLA lab what else you can do to make the experience better.

Encourage patients to seek the advice of your staff, and use staff members' names with patients. The patients will relate better.

LIFESTYLE PROFILES

If you're a doctor, you know patients depend upon you to make recommendations for every possible visual need. To do that, you need the patient's lifestyle profile.

If you don't have a form, check out the OLA's newly revised Lens Menu and use the one that's in there.

They can be mailed to the patient before the exam, or the reception coordinator can present it to them when they arrive. Then review their interests and educate them on the best optical choices.

PATIENT HANDOVER

Take the time to hand the patient over to your dispenser or frame and lens stylist, and take a quick minute to help the dispenser understand what your overall visual strategy is for that patient. Doing this confers the mantle of trust to the dispenser.

This hand off is critical to avoid creating a feeling of abandonment on the part of the patient and to help make the patient receptive to the dispenser's recommendations. In offices where these techniques are used, multiple pair sales are the norm.

DON'T PREJUDGE

How would you like being told that you couldn't afford something? How about the patient who hears your dispenser offering someone all the bells and whistles while they are offered one generic, everyday pair?

The golden rule of eyecare is to offer every option to your patients, just as you would like them to offer every option to you.

PAYMENT PLANS

When you visit the dentist, he has made things easy for you with a payment plan. But it's not his money. It's a finance company's program.

This option is now available through the OLA. It's easy to set up, patients are qualified in minutes, and you get your money in a few days without sending a bill to the patient.

GIVE EXTRAS

There's one other thing we can learn from dentists. Remember that free toothbrush? Why couldn't you do that, too? A bottle of cleaner and a microfiber cloth (both imprinted with your name) cost little and can impress patients.

Well, we've had a great fishing trip, haven't we? We hope you enjoy the new set of lures this article has provided. You say there are a few that are still getting away? I'd be willing to bet my brand new graphite pole that your OLA lab can help. Give them a call; it's like having a good fishing partner.

You may reach the author for comments or questions at ayoho@cox.net.