Which optometry practices will thrive in 2015?

Let’s face it, optometry practices are a lot like different offerings on the stock market. Some stocks do well in both bull and bear markets, and others seem to perform poorly no matter what the climate. The similarities in the optometry business are shocking. Why do some optometry practices seem to grow year after year while others struggle to net 25 percent and seem to be dying a slow death?

The optometry practices that will thrive in 2015 do not have a secret formula, nor have they cracked a code for generating new patients. Instead, they have become adept at self-evaluation. At the end of 2014 these practices are reflecting on what areas of the practice have grown and why, they will be looking at what marketing investments paid off, and they will be looking at what risks paid rich dividends. These thriving practices will then repeat the good and throw out the bad.

Here are 3 habits of thriving practices at the turn of the new year:

1. Staff – Pruning unproductive staff members is a necessary habit. If it takes more effort to manage a team member than that team member produces, it is time let him or her go. Necessary Endings are a part of being the CEO of your optometry practice and key to assembling a great team.
2. New Patients – People will always be looking for new eye doctors. Capturing these new patients could be the difference between a mediocre year and year with explosive growth. Online continues to be an amazing space for generating new patients. Investing in a website produced by a high quality company to maximize your marketing dollars makes all the difference.
3. Patient Advocacy – Most medical practices are caught in the middle of the changing tide of insurance, ACOs, meaningful use requirements, and electronic medical records. We are all complaining about the destitute culture of health care. The practices that will thrive in 2015 are those who become patient advocates. Forget about the negative issues facing the health care industry and focus on helping your patients. You might be surprised with exponential practice growth.

If you are leading your practice and have not taken the time to reflect on 2014 and plan for 2015, then you will find yourself playing catch-up throughout the new year. Be proactive in preparing your team to have a successful 2015 no matter what comes your way.