For more than 25 years, PECAA Business Operations Advisor Kathy Long has been helping practices of all sizes optimize their performance. She does this by conducting comprehensive practice assessments to uncover new opportunities and establishing customized metrics to empower teams to level up. Long’s role as the initial stop in the PECAA Member Business Advisory experience focuses on enhancing the overall practice before recommending additional advisory input on specific areas such as optical sales, team management, marketing, financial strategy, billing and coding, and more.
Take Stock of Your Business
Long points out that you have to know where you are in order to understand where you want to take your practice. While it can be natural to operate ‘business as usual’ when your appointment books are full, or, to only focus on only glaring challenges, a complete practice assessment improves your understanding of everything that’s working well, and everything that has room for improvement. Long helps owners review all aspects of their business strategy, from current goals and metrics to sales and the customer journey. She is especially passionate about the role team engagement plays in practice success.
Establish Metrics
Once you understand the overall health of your practice, and depending on the assessment, it might be time to identify areas for growth and ways to track progress. Long recommends working toward a total production goal, as well as three to four key performance indicators, or KPIs. The identified KPIs should be reviewed and understood by the entire team, including front desk staff, opticians, technicians and doctors, because workflows and competencies may need to be adjusted to factor in the new approach.
For example, if sales of premium lenses and coatings are among the KPIs for which a goal has been set, opticians should be prepared to educate every patient on how each premium product can best improve their vision and quality of life based on their lifestyle. This requires opticians to have a good understanding of all available products and allows patients to make informed decisions about lens options that will deliver the greatest value, thereby driving increased revenue for the practice.
Long also emphasizes that incremental changes of multiple KPIs, rather than a drastic change in one, is what establishes overall growth. She recalls a member who offered Optos® Fundus Photography screenings and initially had a capture rate of 38%. After discussing when and how to best present this option to patients, along with offering more internal education on the value of the test for eye health, team confidence grew, and the capture rate increased to 46% over the course of just two months.
Get Your Team on Board
Involving team members when researching and developing your KPIs is a great way to encourage buy-in and a positive office culture. After all, each team member brings a unique perspective and can best articulate the opportunities and challenges associated with their role.
Consider other ways to bring your team in on the ground level, like starting the workday with a 3–5-minute team huddle where staff can report on KPI updates, check off the housekeeping list, as well as celebrate wins, birthdays, or work anniversaries. Lunch and Learns can also be a worthwhile investment in team synergy by supporting cross-training and improving morale when team members feel their professional and personal growth is supported.
Team incentives can also reinvigorate even the most dedicated staff. Monetary payouts should go through payroll and can be awarded on a monthly or quarterly basis based on individual and team performance. It’s important to track and report on KPIs tied to incentives so that team members know exactly where they stand.
Connect With Us
Members are encouraged to engage with PECAA Member Business Advisors for comprehensive practice insights at any time and invest as little or as much time as your schedule allows. To learn more, schedule a call today. The team is ready to help you achieve your goals in 2024.
Enjoy immediate access to these Member Business Advisory services included with your PECAA Max membership:
- Business Operations
- Finance & Strategy
- Marketing
- Billing & Coding
- Optical Management
