Of the total eye exams conducted each year, more than two- thirds are conducted by independent eye care practitioners. This is according to Vision Watch & Jobson Optical averages.
Less than 50% of the eyewear sold come from independent locations. It is vital that doctors and staff have a measure of the “capture rate” & “multiple sales” on an on-going basis.
These two metrics can improve your bottom line immediately and effectively without increasing your prices or seeing more patients.
Data states that the “capture rate” overall for independent practices is about 68%. “Capture rate” can be calculated by dividing the number of eyeglasses sold by the number of exams conducted. Your office should be tracking/measuring “capture rate” at least monthly.
TARGET: Aim for at least 80% some offices are tracking at
90% or better. The two primary ways to increase the “capture rate”: 1. Ensure your patients are buying from you, instead of “walking.” 2. Encourage more patients to buy multiple pairs. A large percentage of your total revenue comes from the optical. Patients leaving or even considering buying means you are losing money every day.
It may also indicate some other issues that are holding back your overall productivity and performance of your office.
Here are some reasons what may be holding back your “capture rate”:
Delays: Patients expect about 1 hour for an eye care visit. The issue is if the doctor is running late or there are bottlenecks or back-up schedule are keeping them waiting they will be
upset and may not want to look at new frames when they get their exam done.
Selection: If your optical does not engage patients “immediately”—they will look elsewhere.
Atmosphere: If patients do not feel welcomed and encouraged to browse or do not get help promptly, they will leave.
Price: Price should be transparent. Reassure patients that you have great frames that fit every budget.
Introduce financing option early: It is essential to introduce the CareCredit credit card option—early in the selling process. You mention it early-on as a way to say that the practice accepts CareCredit, and is happy to explain what’s involved
in the financing. Some practices have quoted that if a patient makes a purchase using CareCredit—they will do so every year.
Multiple sales: Plano sunglasses for contact lens wearer / with a 1-year supply of contacts. Digital device fatigue— recommend computer glasses with Blue-lite protection.
The following are resources Contact your TSO Practice
Consultant to assist in improving, subjects such as: “Capture Rate” & “Multiple Pair Sales.”
- Video: “Passing the Baton”
- OIP / Goal setting to track Capture Rate/track using EDGE numbers. Practice Consultant can set this up for you.
- TSO University training videos / Lunch & Learn “Improving Your Capture Rate” focus on roles: Doctor, Optician Tech
- How to Create Multiple Sales / Part I & Part II
Contact your Practice Consultant for any further assistance.