The ten things that will boost your revenue

By Jennifer Tabiza, OD - Nov 13, 2021 9:25:29 PM - 14 MINS READ

ONLINE TOOLS THAT WILL GET YOUR PATIENTS TALKING

What is the key to capturing lost revenue? Being PATIENT-CENTRIC. Your patients chose you because of how you treat them and what you offer. If you can improve the patient experience, you will undoubtedly increase your revenue. Let's get into it.  

1. Contact Lenses

DR. CONTACT LENS

30% of your revenue is often lost to: Walking scripts, patients who re-order online rather than with you & loss of annual supply sales. If you saw 1,000 patients a year, and 300 of them didn't order with you - thats $105,00/year (at an average sale of $350/patient). 

Capture those auto re-order reminders & a digital Rx INSIDE your contact lens store - which offers your patient 1 click seamless ordering with insurance & rebates...and voila - you can now tap into that lost $105,000 annually. Think about it, now why would your patient order anywhere else?

Dr. Contact Lens gives your practice the tools it needs to significant increase your capture rate, streamline your business by offering your staff & patients 1 click ordering and an online store designed to make the patient HAPPY, which we know...leads to more sales!

Mention TechifEYE and get half off your onboarding fee. 

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EYERIS

Dailies are for everyone. Cost should NO longer be a barrier. Neither should comfort. Now we have an option that makes us ALL happy & is OD founded, knowing this company has our back.

Capture 20% in more dailies sales & tap into a revenue stream that can boost your contact lens sales by an average of $150/more per patient. So if you see 1,000 patients a year, and your dailies rate is at 30%, convert 20% more of them convert to Eyeris dailies - that is $9,000 MORE than you would be making keeping them in a biweekly or monthly lens.

Eyeris gives you the confidence to sell dailies at a price most can afford. Retail MSRP of lenses is $459 for the annual supply. Wholesale cost to doctors is $259. That leaves a margin of $200 or 43.5%, the highest in the industry. Patients can purchase lenses online from Eyeris and the doctor who prescribed them realizes the exact same margin as if sold in the practice.

Mention TechifEYE and get $1,500 of lenses with any $3,000 inventory bank purchase. 
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2. Website

Roya.com

A website can boost your credibility, branding, marketing efforts & attract more customers.

84% of US consumers believe a business with a website is more credible than one without one.

 93% of US consumers use the interest for research before making a purchase.*

Without a website, you risk losing customers to businesses already taking advantage of the online marketplace. If you’re in direct competition with another business that has a website, your competitor has a clear advantage—especially if they are effectively marketing their website. A website can help level the playing field. Increase your website traffic and capture more interest from those browsing your business by updating your website & showcase your practice. 

Capture 20 more customers a month with a strong online presence, and you will bring in an average of $84,000 more a year (at an average worth of $350/per patient). 

Roya.com is a leading software and digital marketing company specializing in the eye care industry. Roya.com prides itself on being technology focused, always being on the forefront of technology trends. Roya.com applies an innovative approach to digital marketing, offering a complete spectrum of products and services custom tailored to each client to help achieve their goals and increase ROI. Roya.com specializes in Custom Website Design Google AMP ROI Tracking SEO, SEM, PPC Social Media Reputation Management Roya.com is differentiated in the industry by their transparent approach to reporting, building a cohesive digital brand strategy and increasing profitability for their clients.

*Source: Verisign blog

roya_logo_2018_original_color-2BOOK DEMO3. Patient Communication

Weave makes it easy to text, email & call your patients. Communication is KEY to any successful business - and Weave makes it not only easy for your patients to reach you, but also your staff. Their platform is user friendly & doesn't require a lot of training - a huge plus for onboarding new technology.

Capture lost revenue by never missing a call or message from a patient. The average practice misses about 12 calls a day. Convert 5% of those into appointments and tap into a revenue stream of $50,400 a year!

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4. Chatbot

Simplifeye takes patient communication to a whole new level by offering a live person on your website 24/7 to chat with patients about their questions & help them book appointments. 

Capture your after hours visitors with more ease. Just 10 extra patients a month booked is a revenue steam of $42,000 a year! Not to mention the staff time it saves you, and the convenience you offered your patients. 

The ROI is easy to see. Typically it takes only one patient to pay for a month of Simplifeye. Most practices add 6-10 new patients a month through our service.

Mention Techifeye  and get $50/off per month for their monthly service fee.simplifeye-3BOOK DEMO

5. Sell/showcase Eyewear

Optify

Many small businesses aim to expand in the market and reach out to new customers. While face-to-face interactions can be important and business often comes from word-of-mouth, a website gives you a chance to “pass your card out” to thousands online. With an e-commerce store, you can sell items online and ship the product to customers almost anywhere in the world. You might discover that customers in a neighboring city or state are interested in your services, leading to a larger service area, and maybe even an expansion to regional offices. In fact, 81 percent of U.S. small businesses say that a website has helped to grow their business. With a website, you can reach a greater number of potential customers and opportunities.

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6. Bookkeeping

For Eyes Bookkeeping is a great solution to making sure your practice's finances are in tip top shape. Most optometrists know how much their annual gross revenues are, but many don’t know other important financial metrics like net incomecurrent and long-term liability obligationsinventory and fixed asset valuations, or how to report important deductions like depreciation. These duties are not only important for performing the day-to-day functions of your practice and tax reporting, but are essential in determining the overall value of your practice.

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7. Insurance

PracticePal offers a great solution for insurance benefits. Daily eyecare practice operations are time-consuming and expensive due to constant confusion around insurance eligibility, copay amounts, and vendor portal credentials. Staff members schedule appointments without verifying vision insurance and then spend countless hours a month checking vision care plan portals to find eligibility and copay information for patients, ultimately having to painstakingly decipher plan details to calculate the copays.

Capture 5 extra patients a month by having a quick way to verify their insurance while staff is on the phone, and bring in a potential of $21,000 per year. This will also save your staff time, allowing your staff to do more valuable things for you rather than search for insurance benefits. 

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8.Financing Options

Sunbit offers a buy now, pay later (BNPL) technology. This can reduce the stress of buying everyday needs for everyone, everywhere. Modern options for buy now pay later have helped business capture rates go up significantly, and have become something consumers are becoming accustomed to. 

Capture 10 extra sales a month with this option, and tap into a revenue stream of $42,000 per year (based on a avg $350 value per customer). Sunbit_Logo_RGB_Color-2

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9. Niche Offerings

Neurolenses is a great way to stand out from the crowd and offer a treatment that will make a large impact on your patient's day to day lives. The NMD2 is an objective, accurate and repeatable way to measure eye alignment. The cutting-edge eye tracking system allows the NMD2 to identify eye misalignment as small as 0.1 Prism Diopters, acquiring over 10,000 data points per patient.

Capture 10 sales of neurolenses a month to tap into a revenue stream of $72,000 per year. 

10. Option for every budget

twelve84 is an incredible company empowering independent optometrists to streamline their sales process with approachable eyewear packages. What makes twelve84 stand out, is their process. You keep top selling frames on your board, and simply have your staff order it for patients who purchase. This eliminates the need for contact buying, and keeps on display the frames that sell always in your inventory. It offers a solution to your budget conscious patients while still offering incredible fashion.

Capture 14 pairs per month, and your practice can expect to add a minimum of $33,000 in gross revenue with Twelve84 product sold ($22,000 net profit).

Mention TechifEYE and get your first 2 Months of Subscription Fee is waived.

 

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Jennifer Tabiza, OD

Jennifer Tabiza is a private practice owner, and creator TechifEYE & Dr. Contact Lens. Her passion is to bring technology into the optical practice to help it streamline, boost revenue & thrive.

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The ten things that will boost your revenue
Nov 13, 2021 9:25:29 PM - 14 MINS READ