In this episode, I sit down with PECAA's Optical Business Advisor, Kayla Groves, to discuss the biggest pitfalls that practices fall into with their optical. 

Key Takeaways

1. Pitfall #1: Overstocking of frames. Turn rate should be 3x on average in a practice. Frames that aren't turning at this rate shouldn't be stocked.
2. Pitfall #2: Capture rate isn't calculated or calculated poorly. Not having this data affects ability to make key decisions well within the optical.
3. Pitfall #3: Not maximizing reimbursement from insurance by taking wholesale and Frames Data and taking into consideration the type of optical they have: heavy managed vision care, budget, or luxury. 
4. Pitfall #4: Not actively managing the frame board and inventory, taking into consideration the practice goals, the practice business model, demographics, price assortment, and turn rate.
5. Pitfall #5: Not training all team members on the essentials of the optical.
6. Optical is still a significant opportunity for growth in private practice. The patients purchasing online and from e-commerce players are not ones who would purchase anyways from a practice. A large proportion of patients still want an in office experience.

What Kayla is reading:

• The Missing by Kiersten Modglin

Want to learn more about PECAA's Optical Management resources? Email us at [email protected].