Sept. 21, 2024 — Janelle L. Davison, O.D., delivered a two-hour continuing education (CE) course at Vision Expo West in Las Vegas titled "The Business of Eye Care: How Everyday Clinic Practice Can Generate Revenue,” designed to empower optometrists, technicians, opticians, and office managers to stay innovative in today’s highly competitive eyecare market.

To address the trend of patients turning to online platforms and corporate settings for eyecare services, Dr. Davison provided attendees with strategies to build patient trust, increase practice efficiency, and enhance revenue-generation capabilities through modern tools and techniques.

Here, the key objectives attendees explored:

1. Understanding market dynamics and competition: Attendees explored the competitive landscape of the eyecare industry, including the rise of online platforms, telehealth services, and private equity acquisitions. Dr. Davison emphasized the importance of tracking key performance indicators such as revenue per patient, patient capture rates, gross revenues, and more.
2. Implementing effective revenue-generating strategies: Dr. Davison provided insights on how to conduct quarterly leadership meetings, to optimize staff training and explore innovative technologies such as digital frame measurements and virtual check-in tools. Participants also learned about exclusive in-office services like same-day health screenings and patient loyalty programs to differentiate their practice from competitors.
3. Enhancing practice efficiency: Dr. Davison provided strategies on how to streamline operations, including automating administrative processes and leveraging technology to optimize patient communication and fee calculations, in addition to automating contact lens supply orders and shipping to patients.
4. Modernizing the patient buying experience: Attendees gained insights into creating a patient-friendly environment that enhances the buying experience. This includes inventory management, digital marketing strategies, virtual check-ins, and payment installment options.
5. Increasing patient capture rates and retention: Dr. Davison offered strategies to attract new patients through community involvement, such as partnering with high schools for health fairs and career days and sponsoring community activities. Additionally, she highlighted innovative marketing efforts, like investing in billboards and offering perspectives via editorials in local publications, and purchase incentive programs, such as same-day buy-one-get-one promotions.
6. Building patient trust and loyalty: Attendees gained insight into fostering strong patient relationships through personalized care, effective communication, engaging educational content, and community involvement initiatives.
7. Leveraging online platforms for patient engagement: The course covered how to effectively engage with patients by understanding their preferred channels of communication, in addition to leveraging automation and tools driven by artificial intelligence.
8. Measuring success and adapting strategies: Participants explored how to monitor KPIs and adapt their strategies for continuous improvement, with methods for setting practice goals and motivating the entire team to achieve success.