visionomics^®

Key Performance Indicators

Visionomics®, a series of COPE- and ABO-approved business-building courses, will be held at this year's International Vision Expo East and International Vision Expo West shows. The courses focus on strategies for assessing and maximizing practice profitability.

In this series of articles, Eyecare Business—the official trade media partner for Visionomics—will feature some of the program's speakers.

This month, Renee Jacobs, OD, MA, who is also administrator and consultant with Practice Management Depot, will talk about increasing sales using Key Performance Indicators. This is one of two topics she will be presenting on the Visionomics track at the upcoming International Vision Expo East program.

Do you observe your monthly optical stats without an effective strategy for increasing revenue per patient? This course will provide a step-by-step formula to increase sales of any Key Performance Indicator (KPI), such as your percentage of AR, photochromics, or free-form.

TEAM BUILDING

When you have great staff, the easiest way to increase profitability is to put strategic thinkers together. Start with any single KPI you would like to improve. Then provide a collaborative experience designed to teach key people how to influence sales and measure results.

As an office, and at your own pace, address one KPI at a time. Any sales target you desire to improve can be defined and measured.

The strategies to be learned include: ways to increase net revenue per patient; how to evaluate the size of your target market; the use of invoice analysis when calculating profit potential; when to add or adjust fees to protect profit margin; and strategies to increase sales of targeted indicators that return the greatest revenue for the effort.

With each cycle, your team practices individual and group effort, improving business operations and increasing net profit. They become adept at planning business strategy, creating presentations that increase sales, measuring implementation and results, modifying strategy through experience, and achieving success.

With practice, your optical team develops management skills. They develop their abilities to create persuasive patient education, to use measures and analyze results, and to work together increasing sales.

THE RESULT

Exceptional optical staff teams develop business management skills through consistent practice. They recognize that the optical marketplace is changing and that a comprehensive top-tier product mix continuously evolves.

Great opticians differentiate an eyecare business by embracing new and better optical products. They analyze profit potential, update retail fees, safeguard profit margin, and persistently develop strategies to increase sales. They collaborate to improve patient education, to increase sales.

A business thrives when key people routinely exercise authority and responsibility for success. Plus, empowered opticians characteristically increase business net. EB

Visionomics^® For more info on Visionomics, go to: http://visioneast2012.conferencepath.com/program/?action=viewtrack&trackID=867