With all of the advancements in the contact lens industry, business opportunities and threats are created. It is important to stay ahead of the game and potential competition. With a new year starting, now is a good time to reflect and build for the future. Focus on the strengths of your eyecare practice as well as where the practice has the greatest opportunities.

Look for the Opportunities

I like to have an understanding of the threats, but I remain focused on the opportunities. It’s an optimistic approach to contact lens practice.

1) Contact Lens Sales There are many options for patients as to where they can order their contact lenses. Evaluate ways to increase your contact lens capture rate. It may include re-evaluating your current contact lens pricing strategy or understanding how patients want to order contact lenses from your practice (by telephone, by website, at the end of the exam, monthly, etc.). Take a comprehensive approach to analyzing the existing process and how your practice can make it easier.

2) Areas of Growth For example, do you see yourself growing the multifocal contact lens arm of the business? If so, there are lots of new contact lens entries into this space. This could be a big opportunity in the coming year.

Start by developing a marketing campaign to grow this segment of your contact lens business. Then, expand your multifocal contact lens offerings.

With so many advancements, take the time to invest in learning something new. This may be a scleral multifocal option for presbyopic patients who have dry eye or a hybrid multifocal option for presbyopic patients who have a moderate amount of astigmatism. Wherever you see the opportunity for your unique practice, make the commitment in the new year to cultivate it.

3) Myopia Control Do you see myopia control contact lenses as a growth area in your practice for 2020? If so, develop a protocol for implementing this technology. This starts with staff education and having a foundation for success with this growing patient population. When the staff understands what plan to follow for these patients (and the science behind that plan), they will often become your best patient recruiter.

Have a Backup Plan

Optimism aside, sometimes things happen that may not be predictable, so it is important to be prepared. A staff member may leave, something may break, a vendor may go out of business, or a technology just may not perform as well as expected. My backup plan is to always diversify my business. As far as my contact lens business, this has never been more critical.

Focus on the core of your contact lens business, and cultivate that growth. This starts with gaining new contact lens wearers and capitalizing on increased annual supply sales.

It is in a patient’s best interest to see your office for the high-quality care that is provided and the service behind the products that are sold there. If prescriptions change or a product is deficient, patients can perceive that as a negative experience. However, having a staff that is well trained on how to handle these issues will result in a service recovery and happy patients.

Name your growth areas for 2020. Look for your opportunities, and capitalize on those items in the coming year. CLS