Are you equipped with the necessary tools to access the full income potential of your optical dispensary?
Every type of business has various tools at their disposal to do the job effectively.
To get the most earning potential out of your Optometric practice you surround yourself with knowledgeable staff and give them the necessary tools by which to maximize the income your practice can produce.
As an Optometrist in this day and age, you test your patients using state of the art instrumentation. To coin a phrase: ‘These are the Tools of your Trade’
Of course you need these tools to accomplish the most effective eye care possible. Also, you impress upon your patients that they are important enough to warrant this level of treatment.
How do you profit from the many sources of income in your practice?
Your pre-testing instruments are important, for several reasons:
They streamline your schedule, ensure accuracy and assist in moving patients smoothly and efficiently through your office. Then of course, there is the income derived from examination fees and the fees charged for special testing.
There is another amazing source of income that I am shocked to say, is too often overlooked by Optometrists: The optical dispensary.
Most Optometrists have an optical dispensary. But all too often, it simply lacks the ‘WOW‘ factor necessary to keep the patient from going elsewhere to buy their glasses.
Are you missing out on the highest possible Capture Rate for dispensing?
Did you know that the average Capture Rate of an Optometric office is 50%? (Of the number of patients seen on a day that can be dispensed to, only half are being dispensed to).
If 50% is the average Capture Rate, then some offices dispense above that and some below. I think you will agree if this is the case, then there is definitely room to grow.
Lets say a new state of the art optical dispensary replacing the existing one in your current office, were to retain only one patient more per day, than now.
Based on 200 working days per year, at today’s current net profit (after all expenses are paid). It could easily represent $30,000.00 or more of new income per year, $300,000.00 over 10 years.
If two doctors retain one more patient each per day, based on 200 working days per year – that’s a potential $60,000.00 per year of new income or $600,000.00 over 10 years and so on.
I am suggesting that Optometrists in this day and age need to invest in a state of the art optical dispensary, but how much of an investment?
Think in terms of investing the cost of a well equipped Examination Lane.
If Optometrists were to invest (equal to one exam lane) $50,000.00 in a new optical dispensary they would gain a very powerful tool to maximize the income potential of their practice.
If the new frame dispensary stops the exodus of non dispensed patients, then conceivably the investment could be paid back in very short period. Two years or less.
But it doesn’t stop there, because your optical dispensary will continue to produce at this new level and continue to grow, so the return will be better and better every year!
Would you invest $50,000.00, if at a minimum, it earned you $300,000.00 or more over the next 10 years?
Where else could you get a return like that on any investment? It’s like winning a Lottery! You would actually start to collect the winnings immediately! View our client’s written testimonials and video testimonials and discover how their investment was paid back and then some.
What I am attesting to is fact not fiction. I know of many Optometric offices, where the optical dispensary income rivals and in many instances, exceeds the income of the rest of the practice.
You won’t find a safer or more lucrative investment!
This is likely the safest investment you will ever make and look at it this way, it is an investment in yourself and not some stock broker who will invest your money for you, then ding you for a commission and not guarantee you any result.
The new income is immediate and it is there for the taking. Give your knowledgeable staff all the tools to maximize the earning level of the optical dispensary! Have your optometric practice firing on all cylinders.
As an Optometrist you are your own competition! If any of your patients takes their script to have it filled somewhere else, then you are missing a huge opportunity for new income, that is simply there for the taking!
Now imagine, with your new state of the art optical dispensary, keeping the vast majority of your patients with you for all of the services your practice has to offer!
Brian Wolcovitch and the team at Modular Design Systems Inc. (left to right) Frank and Elena Fumagalli, Hamid Hosseini, Brian Wolcovitch
Contact Brian Wolcovitch or call 1(800) 663-8527
Brian and Modular’s design staff are likely the best Space Planners and office designers you will talk to. With 40 years experience in designing many of the industries most successful Optometric offices. They are creators of dynamic displays and innovative furniture for every aspect of an optometric office.