Practice Advantage

The Top 5 Pitfalls Hurting Your Optical with Kayla Groves

Episode Summary

In most independent eye care practices, 61% of revenue comes from the optical and still plays a critical role in practice success. However, there are a significant number of pitfalls many practices fall into that affect their ability to be successful.

Episode Notes

In this episode, I sit down with PECAA's Optical Business Advisor, Kayla Groves, to discuss the biggest pitfalls that practices fall into with their optical. 

Key Takeaways

  1. Pitfall #1: Overstocking of frames. Turn rate should be 3x on average in a practice. Frames that aren't turning at this rate shouldn't be stocked.
  2. Pitfall #2: Capture rate isn't calculated or calculated poorly. Not having this data affects ability to make key decisions well within the optical.
  3. Pitfall #3: Not maximizing reimbursement from insurance by taking wholesale and Frames Data and taking into consideration the type of optical they have: heavy managed vision care, budget, or luxury. 
  4. Pitfall #4: Not actively managing the frame board and inventory, taking into consideration the practice goals, the practice business model, demographics, price assortment, and turn rate.
  5. Pitfall #5: Not training all team members on the essentials of the optical.
  6. Optical is still a significant opportunity for growth in private practice. The patients purchasing online and from e-commerce players are not ones who would purchase anyways from a practice. A large proportion of patients still want an in office experience.

What Kayla is reading:

Want to learn more about PECAA's Optical Management resources? Email us at info@pecaa.com.