bottom line

D.I.Y. Workbook

Although the average revenue per patient will vary by market, benchmark is $275. What is the best way to reach, and exceed that average?

By converting patients from older technology, and dispensing high-performance, premium products and multiple pairs.

There are many reasons to convert patients from older technology to newer options, including:

■ It satisfies your patients.

■ It enhances your professional image.

■ It develops loyalty.

■ It creates referrals.

■ It increases revenues and profits.

Technology conversion is a simple and successful technique. But, it takes practice, and it's not easy if you don't do it regularly.

Following are worksheets that illustrate just what it takes to boost your bottom line through technology conversions.

DO IT YOURSELF

Don't take our word for it. Using this formula you can calculate the bottom-line impact of converting patients and increasing sales in key areas, including AR, high index, photochromics, polarized, and multiple pairs. See the following samples and exercises borrowed from the "Telling the Best Story" workbook (to order, call 800-848-1506) to determine what embracing these steps can do for revenues. Each exercise provides an industry-standard example, and space to insert your practice figures to make your own calculations. The samples are based on the following average industry statistics from the workbook: • 176 exams/month • 68 percent capture rate • 120 patients/month • $275 average revenue from exam and Rx • $33,000 average revenue/month (patients × average $) • Photochromics yield an average of $80 in additional revenue per pair • AR provides on average of $60 in additional revenue per pair • Polarized sunglasses bring in an average of $250 in additional revenue per pair • Selling a second pair increases revenue by an average of $175 • Converting from bifocal to PAL yields an additional $120 revenue per pair

INCREASING PHOTOCHROMICS
Industry surveys indicate photochromics comprise roughly 16 percent of a typical eyecare practice's total lens sales. If a practice increases that amount by 14 percent (for a total slice of 30 percent of sales), it will experience an annual increase of $16,320. D.I.Y.: Increase your photochromics by your target percent. How does this affect your revenue?

MULTIPLE PAIR
Increasing multiple pairs from 20 percent to 25 percent (a 5 percent increase) yields a monthly increase of $1,050 and a yearly revenue increase of $12,600. D.I.Y.: If you increase your sale of multiple pairs by your target percentage, how does this affect your revenue/month?

INCREASING AR
Industry averages indicate AR represents $60 of added revenue per sale. A practice that bumps AR from 26 percent to 40 percent of sales could experience a $12,240 jump in annual revenue. D.I.Y.: Increase your AR by your target percent. How does this affect your revenue/month?

INCREASING POLARIZED
In the typical practice, a pair of polarized sunglasses yields $250 additional revenue. Using the same basic formula, increasing polarized from 8 percent to 15 percent yields an increase of $2,000 monthly and $24,000 yearly. D.I.Y.: Increase your polarized from X percent to Y percent. How does this affect your revenue/month?