Make Your Optometry Practice More Profitable

Posted on
December 28, 2018
Optometry Practice Profitability
Posted by

You may have a busy optometry practice but you may not be making as much of a profit as you would like. If this is the case, the answer is not necessarily to work longer hours, open more offices, or try to see more patients every hour. There are other ways to increase profitability without working yourself to death! From the folks at Exigo Business Solutions, here are a few useful thoughts on how to make your optometry practice more profitable.

How to Make Your Optometry Practice More Profitable

• Retain patients

• Add new patients

• Do better-paying work

• Sub-specialize

• Market your skills and services

• Manage your staff more effectively

• Get help with managing your business finances

Optometry Patient Retention

Are you routinely losing good patients and having to replace them? If this is the case look at how your staff deals with your patients and take a long hard look at how you treat the folks who allow you to make a living in the profession you love.

Take a little time with each patient visit to get to know your patients and let them know that you value them as individuals as well as customers. The same applies to your staff. A cold and efficient front desk or assistant can make your valued patients feel unwelcome no matter that you provide excellent eye care. Aim to have your patients feel like they are welcome and valued when they come to your office.

Adding New Patients to Your Optometry Practice

For most private health care practices word of mouth is the most common source of new patients. When you take good care of your patients, those patients will become your best source of referrals. And then make sure that you have an online presence in this day and age. A simple website is useful and a weekly blog with sound optometry advice is even better. Social media presence on Facebook, for example, puts you right where many of your patients live these days. If you need help setting this up, contact us at Exigo for suggestions and assistance.

Make it easy for someone with an urgent eye problem to get in to see you. It is all too easy at the end of a long day for your front desk to tell a person with pink eye that you are booked full and they should go to the emergency room (and wait for hours). Be available when this person needs you and they will become your dedicated patient and from a business point of view they will be an income stream for years to come.

Subspecializing and Marketing Your Optometry Specialization

Many optometrists have interests and skills that are sub-specialties within optometry. Do you work with contact lenses, low vision patients, sports vision, vision training, eye-related learning disabilities, neuro-rehabilitative optometry, geriatrics, glaucoma, or refractive surgery co-management? Each of these sub-specialties can bring you new patients and often better-paying patients. But you need to let people know what you can do for them.

You may be an expert in your particular areas of expertise but potential patients will not know that unless you put that information on your website, hang your diploma and certificates in a prominent place in your office, and make sure that your staff routinely reminds folks that you are a qualified specialist in specific areas of optometry.

Managing Your Staff and Managing Your Finances

Some folks are technically competent and very business-¬¬¬savvy. But they have no personality. Although you need competent people working for you, you also need folks who are likable because you want your patients to feel comfortable coming in to see you. This starts with interviewing new help. Many professionals find this difficult but it can make or break your practice. If you need help with interviewing and hiring get help and get it done right.

And, managing the financial part of your business effectively can make all the difference in the world even without any other changes. Months ago we wrote about how soon your optometry practice should be realizing a profit. The bottom line was that you can have a profit right away with a bookkeeping approach called Profit First and competent advice and assistance from folks like Exigo Business Solutions.

Optometry Practice Profitability

When Should Your Optometry Practice See a Profit?

November 5, 2018

When you go solo, how soon should your optometry practice start realizing a profit?