This article was originally published in a sponsored newsletter.

The business of contact lenses is a critically important arm for many eyecare practices. For that reason alone, it is important to provide this specific business with the attention that it deserves and focus on the basics. In any business, to analyze and improve something, measure where you are, define the strategy, and measure the results.

What to Measure?

There are many different metrics and stats that could be analyzed, but I feel the two most important are:

1. Capture rate per contact lens patient defined as the number of contact lens patients who purchase a supply of lenses at your office divided by your total number of contact lens patients within a specified time frame.
2. Annual supply sales defined as the number of annual supply sales as a percentage of every contact lens order.

Between contact lens distributors and software metrics, there are many ways to determine these stats. Start by measuring and analyzing these numbers. Determine where your office stands, and understand how those numbers can be improved. Look at the big picture, and see what changes can be made to improve those stats. Develop a plan to maximize comfort, maximize vision, maximize compliance, and prevent contact lens dropouts.

Daily disposable contact lenses can help in all of those areas. Additionally, daily disposable lenses have a higher compliance rate, which yields more frequent orders.¹ In our practice, patients who are in daily replacement lenses are more inclined to order an annual supply and will come in more frequently for their exams to renew their contact lens prescription.

Contact lenses are critically important to the business of eye care. In my opinion, daily disposable contact lenses can help patients have a comfortable contact lens wearing experience; they can also help practitioners maintain growth within their practices. Understanding how your practice performs with these stats can make a difference in how fast your contact lens practice grows.

Reference

1. Cole J. Choosing the Right Contact Lens Modality. Rev Optom. 2017 Aug 15. Available at reviewofoptometry.com/article/ro0817-choosing-the-right-contact-lens-modality. Accessed 2024 Jul 5.

Read the second part of this story, here.