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Contact Lens I Part 2 > Contact Lens 1-2: SCL Profitability 2014 > Flashcards

Contact Lens 1-2: SCL Profitability 2014 Flashcards

1
Q
  1. % of gross practice revenue?

a. From what 2 things/

A
  1. 25%

a. CL Sales and CL professional fees

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2
Q

Soft Lens Market Trends

  1. What 5 Segments are Growing in Share?
A
  1. Soft Torics
  2. Soft Multi-focals
  3. Daily Disposables
  4. Monthly Replacement Lenses
  5. Silicone Hydrogels
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3
Q

Soft Lens Market Trends

  1. 5 Segments Declining in Share
A
  1. Clear Spheres
  2. Private Label
  3. 2 Week Lenses
  4. Quarterly Replacement Lenses
  5. HEMA Based Lenses
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4
Q

Profitability of CLs

  1. What lenses have Reduced Profit Margins?
    a. Why is this?
  2. What can Maximize Revenue?
A
  1. Multi-packaged lenses
    a. Due to increased retail competition
  2. Effective CL management strategies
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5
Q

Resources

  1. 4 Major resources for info about CLs sales etc..?
A
  1. Rep from CL distributor/Lab (ABB Concise)
  2. Rep from CL Manufacturer (Alcon, B+L, Coopervision, and Vistakon)
  3. Consultants
  4. Seminars
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6
Q

Deficient Approaches Identified by Optometric Consultants

  1. 5 major things
A
  1. Prescribing based on Lowest cost to patient
  2. Recommending what’s most popular
  3. Presenting a menu of options at tiered price points and allowing patients to choose
  4. Not adopting new technology
  5. Failure to track product mix
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7
Q

Revenue Building Strategies

  1. You should RECOMMEND LENS MODALITIES that have what?
  2. What other 3 things?
A
  1. That have HIGHER COMPLIANCE
  2. a. Encourage Annual Supply Purchases
    b. Make Recommendations for your patient
    c. Pre-Appoint Patients
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8
Q

Compliance

  1. Frequency of Lens replacement is DIRECTLY RELATED to what?
  2. Non-Compliant patient will not have what?
  3. What else.
A
  1. to Eye Exam FREQUENCY
  2. the Impetus to return for their annual eye exam
  3. CHIEF COMPLAINT. LISTEN!!
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9
Q

Non-Compliance

  1. Which type of CL has the highest Non-compliance rate?
  2. Major reasons for Non-Compliance?
A
  1. 2 weeks > Monthly > Daily Disposables (Lowest non-compliance)
  2. Forget Day to Replace them! > Save Money > Lack of Time > No Harm > ECP said OK
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10
Q

Tools

  1. What tools are out there to help patients be more compliant? (4)
A
  1. Lens ALERT; SIRI; Acuminder; Apps
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11
Q

Annual Supplies

  1. What should we quote to the patient?
  2. What other 4 things should we tell them?
A
  1. QUOTE ANNUAL SUPPLIES TO ALL PATIENTS!!

2. Discounts, Rebates, Commit to Memory # of Boxes (annual supply) and Direct Ship

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12
Q

Box Size

  1. Daily Disposables?
  2. 2-week or 1 month replacement?
A
  1. 30 pack; 90 pack

2. 6 PACK (some brands have 12 packs and some have 24 packs)

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13
Q

CL Transaction Costs

  1. Least Profitable?
  2. most Profitable?
A
  1. Individual Rx to Supplier, Dispensed in-office < Dispensed in-office from inventory < Individual Rx to Supplier and dispensed in office < dispensed in
  2. Patient Internet Order
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14
Q

Goals for % of Direct Shipment

  1. Median?
  2. 95th percentile?
A
  1. 15%

2. 80%

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15
Q

Reducing Transaction Costs: Things to DO!

  1. Stock in-office Inventory with what?
  2. Encourage purchase of what supply of CLs?
  3. Use distributor or individual manufacturer when ordering CLs?
  4. When should CLs be ordered: End of the day or after each patient order?
  5. Ship lenses where?
  6. Enable what on the website?
A
  1. of Frequently Prescribed Clear Spheres
  2. Annual Supply
  3. Distributor
  4. At the end of the day
  5. to Patient’s home/office
  6. Lens re-order on the practice website
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16
Q

DONTS

  1. Dont recommend that patients return to do what?
  2. What else?
A
  1. to buy lenses as they need them
  2. Dont fail to demonstrate savings of an annual supply (% discount; Manufacturer’s rebates)
  3. Don’t ask patients how many boxes they would like to buy
17
Q

Sample SCL Inventory

  1. Tend to keep a good supply of what powers?
A
  1. Mild myopes
18
Q

Make Recommendations

  1. 4 things
A
  1. Refitting into newer technology
  2. Soft Torics to Low Cyl Patients (> or equal to 0.75 DC)
  3. Multifocals before monovision
  4. Daily Disposables
19
Q

Interval b/w CL Exams

  1. % of Eye care practitioners recommend that CL patients return how many months for an eye exam?
  2. National avg b/w CL exams?
  3. Reducing Interval b/w CL exams?
A
  1. 98%: return every 12 months
  2. 18 months
  3. if reduced to 16 months –> 12.5% increase in # of exams performed/year
20
Q

Closing the Gap

  1. How can we best increase frequency of CL Exams?
A
  1. Reduce interval b/w CL Exams by PREAPPOINTING
  2. Phone call in 11 months to confirm
  3. Quantity of Lenses in the annual supply aligns w/the recommended exam interval –> Compliance
21
Q

Recommending Contacts to Everyone

  1. 5 Keys to Success
A
  1. Keep up on Latest CLs (stay educated)
  2. Think GLASSES AND CLs, not glasses or contacts
  3. Ask about interest in alternatives to glasses on pre-exam lifestyle history questionnaire
  4. Have discussion w/every patient about his or her lifestyle and CLs
  5. Put CLs on patients selecting Glasses
22
Q

Getting yourself out of the WAY!

  1. 5 Keys to Success!
A
  1. Don’t settle for “fine.”
  2. Don’t offer pt a solution until they realize they have a problem
  3. Don’t offer your pt options. Make a strong recommendation
  4. Remember, pts come to you for your professional opinion, not a bargain
  5. Practice Role-Playing, making recommendations and answering fee objections

Contact Lens I Part 2 (5 decks)

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