In this series, I am sharing the following 5 Winning Strategies for building a successful contact lens business.
5 Winning Strategies for Contact Lens Business Success
- Engineer The Contact Lens Exam Experience
- Determine Service Fee Schedules
- Create Your Practice Contact Lens Portfolio
- Promote Your Contact Lens Clinic
- Become Data-Driven
In the first article, we talked about Winning Strategy #1 – Engineer the Contact Lens Experience. Last week, we discussed winning strategy #2 – How to determine a profitable service fee schedule. This week, we’re continuing this discussion with strategy #3…
How to Create Your Practice Contact Lens Portfolio
The product mix presented to patients has a huge impact on the sales and profits of the practice. Beyond the revenue, the product mix creates an image of the practice, defining the types of patients who are likely to be satisfied.
According to the 2010 edition of Best Practices of Contact Lens Management, the most profitable contact lens practices tend to be those that manage the contact lens mix well and achieve a higher-than-average ratio of fits of leading-edge technologies.
Here are 5 tips to help you create the contact lens product mix that fits your patients and your practice goals:
1. Identify which contact lens benefits and technology you want to offer your patients?
Your first and foremost priority should be to offer the best care to your patient base. In order to do this, you must first determine the common visual needs of your patients. This information will help you decide which lens benefits, technology, and/or features will be ideal for your patient base.
For example, in my practice, our average patient is a 48-year-old professional woman who has mild to moderate dry eye symptoms. Armed with this information, we decided to focus on offering daily disposable multifocal contact lens options to our patients.
These lenses are ideal because the features and technology they offer meet the most prevalent needs of our patient base.
2. Identify which manufacture has the most profitable family of lenses for these Features/Technology.
Once you understand the needs of your patients and have decided on lens features/technology offerings, your next step is to find the right manufacture. Soft contact lens technology continues to evolve and every contact lens manufacture is in the race to lead that innovation. This is good news for practitioners who want to build a successful contact lens practice.
The pursuit of innovation by contact lens manufactures is good for practitioners because it makes it easier to find the right family of lenses for your practice. Most contact lens manufacturers will offer a mixed portfolio of lenses to meet all of your patients’ needs.
Look over their product cost and chose the company with the most profitable family of lenses for your patient base.
3. Develop a relationship with the company vendor representative and request the fitting sets for these lenses.
Once you pick a company, it’s time to build relationships with the company representative and request fit sets. Enlist the help of your vendor representatives to grow your business. Your reps want you to succeed because when you succeed, they succeed. See them as free consultants and partners in your business. Take advantage of their expertise and invite them to train your team.
Meet with your reps regularly to monitor progress, maintain your diagnostic fit sets, and to stay abreast of new technology.
4. Learn everything there is to know about these lenses and master the fitting guides.
In Optometry school, we were given the clinical foundation to fit all modalities of contact lenses. However, manufacturers have also ensured our fitting success by providing guidelines on the evaluation and modification process of specific lenses.
The manufacture fitting guides often provide unique insights that can save significant chair time and ensure fitting success. Study these fitting guides and master their techniques.
Read white papers and published studies on your lens portfolio. Make it your goal to become an expert on those lenses with the purpose to deliver on your promise to offer the best care to your patients.
5. Make that family of lenses your first choice when fitting patients.
Your chosen family of lenses should become your go-to when fitting new patients. If you are careful to select the lenses that have the optimal features and technology for your patients, you will be confident when prescribing.
Your knowledge and expertise along with your dedication to your patients will be evident in each encounter. And you will be pleasantly surprised to discover that most patients will value your commitment to their healthy clear and comfortable vision over price.
If you enjoy this article, let me know in the comments below, and remember to share it with a friend! Next week, we will discuss ways to promote your contact lens clinic. Until then, continue to Empower, Connect, and Promote each other’s success.