I'm sure you have said this to yourself more than once and probably have had some sleepless nights to go along with those fears.
Starting a practice is one of the scariest decisions an optometrist can make, and for good reasons:
Details, Details, Details; "How many square feet should I have? Where should I locate my practice? How many staff should I have? What terms should I negotiate in my lease? When should I hire the next staff member? What do I pay my staff? Should I include staff benefits? How many frames should I have? Should I stock an inventory of contact lenses? What equipment should I have to WOW my patients without going overboard? How many telephone lines do I need? How do I keep from pulling out all my hair?"
Questions like these are the number-one reason that optometrists procrastinate on starting their own practice. Some OD's procrastinate for years before they finally pull the trigger, only to later wish they would have opened years earlier.
There's a lot to be said for practice ownership and building your very own practice from the ground up…the practice you have been dreaming of.
Business Plan; "I have some great ideas, but how do I put them all down on paper and convince my
lender that I am worthy as business risk"? Through our experience, we know exactly what the
lender's 'hot buttons' are. We also know the things that shouldn't be included in your business plan that
could 'blow the whole deal'. No need to spend countless hours on developing a plan when we could
help you develop it in a very short period of time. Our exclusive Business Plan Builder DVD will take you
through every step and you'll have a professional business plan finalized in only hours instead of weeks,
months or in some cases…even years.
Lease Negotiations; Reading, understanding, and negotiating your lease is something that's simply not
taught in optometry school and rarely will a consulting company help in your lease negotiations either.
We'll go through each paragraph with a fine‐tooth comb and help you negotiate the very best terms
imaginable. This in itself could pay the 'brunt' of your consulting program!
Incorporation Options; "Should I incorporate…if so, when…and how"? "What advantages are there to
incorporate myself"? Your attorney will give you one answer, but your accountant will give you a totally
different answer. We'll sort through the details, as the decisions you make in the early stages can
actually effect how you do business down the road.
Project Organization; "With so many things to consider when starting a new practice, how do I keep
everything organized"? We'll utilize a PRACTICE‐ LAUNCH™ organization list through 5 different stages
so you won't skip a beat. You'll know exactly what needs to be done next with no guesswork.
Billing & Coding; "How do I know that I am producing the maximum income for my level of expertise"? I
buy blocks of consulting time with one of the industry's best coding & billing 'gurus', and you'll have the
opportunity to utilize them for all your needs as well as helping you price your medical procedures for
maximum productivity. You won't be 'flying by the seat of your pants' ever again!
Marketing; I can honestly say that most existing practices waste between 40 – 60% of their hard earned
dollars on typical marketing efforts that simply don't work. We will help you customize a plan built on
'Trust' while lowering your marketing costs in the process. We'll create a Marketing Calendar of Events
to keep you right on track.
Referrals; I like to call them 'Comfortable Referrals', as most doctors feel uncomfortable in asking for
referrals, but it is a great practice‐builder. We'll show you an easy and very effective way without you
feeling uncomfortable at all.
Staff Training; Just imagine if your staff knew more about the business‐side of operating a great
optometric practice and actually gave input on how to make things even better! Starting with the basics
is the key here. As your practice continues to grow, your staff will become even more valuable in the
business‐decision making process. Enjoy!
Building Patient Loyalty; Patient 'satisfaction' and patient 'loyalty' are two totally different things! Loyal
patients would never go anywhere else, they refer everyone they know, they accept your
recommendations, and they help your practice grow exponentially! We'll put processes into your
practice to insure patient loyalty in the highest degree!
Multiple‐Pair Sales; Notice I didn't say 'second‐pair sales'. We'll teach you and your staff the strategies
to make this happen in your practice. Did you know that offering discounts can actually hinder your
ability to sell more product? Imagine your multiple‐pair sales increasing to 25%… 30%… HOW ABOUT
40%? We'll show you how to do it without 'selling' a thing!
Staff Management; "Do I have enough staff? Do I have the proper mix of staff? Do I have the proper
Employee Manual to help the practice run smoothly"? These concerns, along with many more, will be
solved so you can concentrate on your patient care instead of always putting out fires!
Telephone Management; Did you know that proper marketing doesn't necessarily direct patients
through your door? Proper marketing makes the telephone ring in order for your future patients to
learn more about you. If your staff is unable to convert a telephone shopper into a scheduled patient,
then your marketing dollars will probably go right down the tubes! We'll show you great ways to convert
upwards to 85% of your incoming queries!
Dispensary Management; "Do I have too many frames? Too few? The right mix of fashion and
function"? Most existing practices I have worked with between $10,000.00 and $15,000.00 in
excess inventory. Imagine having that money in the bank account working for you to pay your accounts
early in order to achieve their maximum discounts, updating the practice, or better yet… taking home an
Vendor Management; With our Vendor Agreement Form, your vendors will be working in your best
interest while saving you over $2,000.00 per year! Sounds good, doesn't it?
Proper Product Pricing; Most practices have a tough time pricing products for maximum profitability.
We'll do a customized analysis that will add much more profitability to the practice while helping you
stop giving things away!
Pre‐Appointing; If all patients came back to their eye doctor on a yearly basis, Glaucoma would not be
the second leading cause of blindness today! It's important to get your patients back, but many methods
of pre‐appointing only fill your schedule with no‐shows for next year. Our fool‐proof method guarantees
this not to happen! You'll love this!
Practice Statistics; Imagine each staff member dedicating less than 1% of their time to help you manage,
monitor and grow your practice! Yes it can happen and it's easier than you think. We'll
have you and your team focus only on the statistics that will help turn your practice into a gold‐mine!
And best of all, it only takes minutes to do!
Accounts Receivables; Turn your aged accounts receivables into cash in the bank! We'll teach you the
simple methods in order to get the job done. It's easier than you think!
Scheduling for Profitability; Per‐patient revenue can vary dramatically throughout each day, thus
reducing your overall profitability. Our method keeps the Per‐patient revenue strong all day long, and
these are results that you can take to the bank! Proper scheduling also helps to reduce the 'feast or
famine' scenario, so you may not need that extra staff person after all! This is just another method of
working smarter…not harder!
Website Requirements; Should I have a website? Would there be extra profitability? Should I include
Social Media? We'll step you through the process in order to make the best decisions.
Staff Meetings; "What are the best ways of having scheduled staff meetings? How often should we
meet? What should we talk about? What's to keep a staff meeting from turning into a gripe‐session"?
We'll instruct you on the ways to make your staff meetings very efficient while focusing on business care
issues to help grow your practice!
Profit & Loss Analysis; It's not uncommon to start receiving your P&L statements, but not fully
understand what to do with them. Many of your colleagues have no idea what the numbers really mean
either. We'll teach you how to benchmark your practice properly, as some currently used benchmarks
actually lead you down the wrong path.
Time Management; "These are all great ideas, but how are we ever going to have time to get them
implemented?" Proper time management is essential when going through a consulting program.
Remember the last great idea you had, but nobody had the time to implement it? Say "Goodbye" to this
Did you also know that a certain 4‐second question addressed to someone who just scheduled an
appointment can easily add an additional 12% of patients to your schedule book? You will soon!
Looking for ways to ease the burden of starting a new practice? How about a better quality of life? More
time off? More profitability, along with methods that help you run your practice instead of your practice
I think that you will agree that the vast majority of the above topics were never taught in optometry
school, and please don't feel too overwhelmed, as with Practice Mentors, we'll take you through these
and many, many more strategies step‐by‐step.
There's a lot to be said for starting your new practice properly right out of the gate. Practice Mentors can
get you there!
As a matter of fact, lenders love the concept of utilizing a consultant as assurance that you will be able
to pay them back, and they will easily roll the consulting fee into the start‐up loan. All this for less than
the price of a retinal camera. Gotta love that!
There are many investments that you will make in your new practice from equipment to staff, but
few investments reap such a long‐lasting reward. Don't you owe it to yourself?
Hopefully this information answered a lot of your questions, and hopefully it sparked other questions
that you may have, so let's plan on chatting soon.
Here's to your Dream Practice