A dashboard that readily displays the top performance metrics of your practice is a powerful tool in pinpointing areas for improvement. Bridgitte Shen Lee, OD, explains how her practice, Vision Optique in Houston, Texas, has increased its efficiency and profitability by managing by metrics.
Use a Dashboard to Pinpoint Improvement Areas
Discuss Performance Data with Doctors and Staff
FOCUS ON THE KEY METRICS. Manage the most vital practice performance metrics to pinpoint areas for improvement. You can access a “snapshot” of how your practice is doing from anywhere and at any time.
DRILL DOWN TO DETAILS. Drill down to how your daily optical sales compare to the previous days, weeks or month. Look at individual performance in terms of premium Rxes and sales.
UTILIZE OUTSIDE AUTHORITY. Utilize an outside consultant, often available from a buying group, to present associates with their performance metrics–and areas for improvement. The authority and neutrality of an outside sales expert can be effective change agent.
MANAGE LIKE A PRO. With a customized dashboard that provides an immediate performance snapshot, you have the power to manage like the marketing director of a major retailer.
TRACK NEEDED IMPROVEMENTS. Spotlight areas where the practice can improve in financial performance.
CREATE LONG-TERM GOALS. Have the whole practice focus on needed improvements, such as streamlining the contact lens prescription and sales process to increase contact lens fitting fees and enhance contact lens capture rate.
TRACK YEAR-TO-YEAR PERFORMANCE. See how your practice compares to other practices across the country, and how your practice is doing now compared to the same time last year.
MANAGE LONG DISTANCE. Use the practice management dashboard to keep tabs on practice performance metrics while not in the office. The staff knows you always are watching.
COMPARE MONEY COLLECTED TO BILLED. Compare how much money your practice actually receives compared to what was billed out. This provides a truer picture of profitability.