Business Tip: Are we becoming obsessed with ocular therapeutics?
Over the last 15 years I have had the opportunity to visit the US many times. It seems that most optometrists, especially the new graduates are embracing diagnosis and treatment of eye disease. Australian optometry also seems to be following the same path. What will this change in direction mean for traditional optometry, and is there a downside?
Most businesses will move forward with good growth if they continually nuture their core components and slowly add new product lines without eroding their established ones.
I believe that adding ocular therapeutics to your product mix has enormously potential for your business but it can also be a two edged sword. Keep in mind that we have nearly entirely lost contact lens solutions to pharmacy. I know most people will say: "what's the big deal, there is no profit in solutions." The reality though is, if you include dry eye products, the average optometry practice is throwing away $20K in profit per year because of the perception that it is a waste of time.
Next comes disposable contact lenses. This product probably only represents about 8% of an average practices profit, but like solutions, it is ready for the picking from internet suppliers. The bulk of our profit margins come from spectacle sales, but even this is under attack from optical chains and health fund optical outlets.
My point here is that by introducing ocular therapeutics into your practice it will upgrade your patient's perception of your service. This will make you the first port of call when your patient is concerned about their eyes and it will also mean more visits to your practice for service rather than going to the GP. Take advantage of this position and keep your patient's in your business for all their vision needs. Strategy around supplying all products lines are for another time. The key is that once ocular therapeutics becomes solidly entrenched within optometry, we might be tempted to concentrate solely on becoming optometrical physicians. Don't fall for this trap because having diversification among your product lines will guarantee your success into the competitive future.
Product Review: Rodenstock's new Urban Collection
Fascinating colours, fashionable designs and an intriguing mix of materials:
The latest spectacle collection by Rodenstock puts the spotlight on the personality and individual style of the young and the young at heart in a modern manner to suit the wearer. The superb formal language of the new models harmonises to perfection with different facial shapes.
Six new models are available: Two metal frames for men and two for women as well as one acetate model for women and one unisex version. All the models represent a successful combination of clean stainless steel elements and high-quality plastic materials in expressive colours. One inimitable design feature of the new collection is the very detailed presentation of the regulated motion polyamide hinge: The Rodenstock logo in relief on the screw head is a playful product characterisation and the hinge construction simultaneously provides optimum comfort in wear and perfect shape stability.
The new, colourful eyewear collection by Rodenstock is the perfect match for a young, open-minded target group who want modern, high-quality spectacles with character. Rodenstock thus gives opticians the opportunity to provide their customers with excitingly independent products which will meet even the highest demands.
Sydney, January 2007
For further information please contact:
Anne Guethoff, Marketing Manager
02 9748 0988
Dr Anthony Maloof returns next month with more on eyelid aesthetics.
The therapeutic section of the newsletter will also have articles written by a few more subspecialists. Dr Gerard Sutton (Anterior Segment & Laser Refractive) will join Dr Maloof. The latest in retinal medical & surgical therapy will also be added to the monthly review. More on this next month.
Rodenstock has just partnered with Adidas to create a whole new product line.
Customised Sport's Spectacles are here!
More Information here
To date hundreds of copies of my e-book have been downloaded. I assume many of the downloads have been read. If you haven't read it yet here it is again:
The 7 Critical Mistakes that Most Optometrists Make in Their Practices…
And how to avoid them By Jim Kokkinakis
Information Technology & Optometry
If you want to invest in new technology you must have a solid computer system to make sure that the use of the technology is efficient. Having a solid computer network for an optometry practice is way beyond the average optometrist's skill set. That's where Richard Rees comes in.
Richard Rees works for LookUp.com. They are specialists in Information Technology solutions. Phone Richard on
1 300 553 559
Visit Lookup for all your IT needs