
Dr. Shaheen demonstrating how he works with contact lens patients. He says that there are a few strategies that make a huge difference to his ability to serve patients and grow profitability.
Boosting contact-lens profitability
By Michael K. Shaheen, OD
Jan. 15, 2025
As an eyecare practitioner, I am always on the lookout for ways to enhance the profitability of my practice, particularly when it comes to contact lenses.
Over the years, I discovered several effective strategies that not only boost our bottom line, but also significantly improve patient satisfaction.
Here are three key actions that are making a remarkable difference in our practice. I hope they inspire you to implement similar changes.
1. Engaging Patients in Contact Lens Conversations
What Did I Do?
One of the simplest, yet most impactful, actions I took was to engage patients in conversations about contact lens options.
I realized that many patients come to us seeking knowledge and expertise, yet they often leave without understanding the contact lens options available to them.
By taking a few moments to educate them, I have seen a significant increase in contact lens adoption.
How Did I Do It?
Initially, I was concerned about reducing chair time, which led me to overlook the importance of these conversations.
However, I made it a point to mention contact lenses to every patient throughout their exam experience.
Whether it’s during downtime while walking to another room, during the screening process, or after the exam, these brief discussions take only a few minutes, but can have a lasting impact.
Time Investment
In the grand scheme of things, this approach doesn’t require much time. The conversations can easily fit into the natural flow of the exam process, often taking just a couple of minutes.
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Financial Considerations
While time is money, the return on this small investment is significant. A patient who wears contact lenses can generate approximately $290 to $330 more per year compared to a glasses-only patient. This difference adds up over time, making it a worthwhile endeavor.
Benefits for Patients
Beyond the financial aspect, educating patients about contact lenses provides them with newfound freedom.
Whether they’re students involved in sports, working professionals, or individuals looking to change their appearance, successful contact lens wearers often express a renewed sense of confidence and satisfaction.
This positive experience leads to word-of-mouth referrals, which are invaluable for practice growth.
ROI Insights
The numbers speak for themselves: contact lens patients tend to return more frequently for exams and make additional purchases, such as sunglasses and eyewear. This creates a cycle of profitability that benefits both the practice and the patient.
2. Focusing on Multifocal and Specialty Fits
What Did I Do?
Recognizing the growing demand for multifocal and specialty contact lenses, I decided to engage strongly with this demographic. By focusing on presbyopic patients, we could present them with tailored options that meet their unique needs.
How Did I Do It?
We invested time in understanding our presbyopic demographic, which is often motivated and has greater purchasing power. Through internal testing, we identified the MyDay daily disposable multifocal and Clariti 1 Day Multifocal 3 add as our go-to lenses. This streamlined approach not only reduced chair time, but also enhanced patient satisfaction.
Editor’s Note: You have many multifocal contact lenses to choose from for your patients including: Alcon (Air Optix Aqua Multifocal, Dailies Total1 Multifocal), Bausch + Lomb (Ultra for Presbyopia) and Johnson & Johnson Vision (Acuvue Oasys Multifocal), among many other options.
Time Investment
Our process begins with our technician discussing options during the pre-screening phase. By utilizing downtime effectively, we minimize the time spent on these discussions. We also have trial lenses ready for patients, allowing them to experience the product firsthand.
Financial Considerations
While there may be some initial costs associated with fitting multifocal lenses, the investment is minimal compared to the potential returns.
We did invest in a topographer for specialty fits, but for soft multifocal contacts, the costs remain low.
Benefits for Patients
Multifocal and specialty fits often lead to some of our most loyal and vocal patients. Addressing the emotional aspect of vision loss in presbyopes can lead to profound gratitude and satisfaction.
By providing solutions that cater to their needs, we’re not just improving their vision; we’re enhancing their quality of life.
ROI Insights
The financial benefits are substantial. Studies show that a patient who remains in contact lenses from age 44 onward can generate around $10,000 more profit by the time they reach their mid-70s compared to those who drop out.
This statistic underscores the importance of retaining patients in contact lenses.
3. Implementing Stock/Revenue Lens Purchases
What Did I Do?
To further boost profitability, I implemented a strategy of purchasing stock/revenue lenses. This approach was recommended by a contact lens representative and has proven to be effective.
How Did I Do It?
By collaborating with our contact lens reps and optical buying groups, we assessed our stock needs and took advantage of special pricing offers. This proactive approach allowed us to maintain an adequate supply of popular brands while maximizing our profitability.
Time Investment
Working with contact lens reps significantly reduces the time spent on inventory management. Open communication about specials and locked-in pricing helps streamline the process.
Financial Considerations
While there are upfront costs associated with stock purchases, we often negotiate favorable terms, such as 30/60/90 payment plans. Our orders typically range from $2,000 to $5,000, but the return on investment is well worth it.
Benefits for Patients
Patients appreciate the ability to leave with their contact lenses in hand. This immediate gratification enhances their experience and increases the likelihood of them purchasing contact lenses.
ROI Insights
The direct ROI from negotiated pricing to retail sales is evident. Having stock on hand increases purchase capture rates and boosts annual sales. Additionally, we saw a 30 percent increase in our overall contact lens business, thanks to improved productivity and reduced payroll expenses.
In conclusion, these three strategies transformed our approach to contact lens profitability.
By engaging patients in meaningful conversations, focusing on multifocal and specialty fits, and implementing stock purchases, we improved our practice’s financial health and increased patient satisfaction.
I encourage you to consider these actions in your own practice and witness the positive impact they can have.
Together, we can elevate the standard of care in our field and ensure that our patients receive the best possible options for their vision needs.
Michael K. Shaheen, OD, is co-owner of Hills & Dales Vision, Inc., in Canton, Ohio. To contact him: drmikeshaheen@gmail.com
