This article was originally published in a sponsored newsletter.
Understanding your eyecare business and daily disposable stats are foundational. According to the old business adage from business management author Peter Drucker, “If you can’t measure it, you can’t improve it.” This is definitely true when it comes to daily disposable growth.
What stats do you look at? Here are a few that I find helpful in terms of business management:
- Percent of Contact Lens Wearers This is basically the number of contact lens-wearing patients seen in a given time period divided by the total number of patients seen during the same timeframe. I want this percent to be in the 35% to 40% range. If this percentage is decreasing or not where you want it to be, consider the why and find ways to improve that stat. This may mean being more deliberate in recommending contact lenses to patients or recovering a contact lens dropout with new technology. Additionally, internal and external marketing efforts may make a significant impact on this stat.
- Percent Daily Disposable Wearers This is the percentage of patients who wear daily disposable contact lenses in a specific timeframe divided by the total number of contact lens wearers during that same time. I like this percentage to be north of 80%. This takes effort and total dedication to daily disposable contact lens technology. Have a workhorse daily lens and backup lens ready to go in the office’s fitting protocols. This will help you work efficiently in order to grow this category.
- Percent Annual Supply Sales This is the percent of patients who ordered any annual supply of contact lenses for a specific timeframe divided by the total number of contact lenses seen during that same timeframe. I’d like to see this percentage at 100%; realistically, setting a goal north of 60% to 70% is a great starting point. Develop a check out and ordering protocol with staff to ensure that the patient handoff is smooth. This will directly relate to improved contact lens revenue generated within a practice.
These three metrics are a great place to start to get a feel of your current daily disposable business and to set goals for the future. Implement strategies for growth and track these monthly. If you measure it and use that information for change, daily disposable growth will happen.
