Fewer than 5% of optometric practices ever get past the $1 million dollar a year revenue landmark.
Indeed, according to Dr. Jerry Hayes in his book, getting past the $900k barrier is one of the most daunting challenges a practitioner faces.
How can a solo practitioner, in practice for 30 years with mostly static growth, ramp up his practice to crack the $1MM barrier?
We first talk to Dr. Henne about how he’s transformed his “mature” practice to accelerate its growth in an attempt to crack the million-dollar revenue barrier.
We specifically cover:
- Why Dr. Henne decided to “go for it” and accelerate the growth of his practice with new technology, after years of stable growth
- What tech he decided to implement, including automated refraction systems (the EPIC system) and automated patient recall systems
- How it altered his workflow
- Whether or not his staff resisted (or mutinied!)
- How his gross and net have improved
- How the perception of his office has changed with patients
- What some of the challenges were in the implementation phase
- …. and whether or not he’s made it to $1MM!
Dr. Petito also tells us about his practice which is demographically very different from Dr. Henne’s (ie, more elderly), but still benefitted from new technology.
Dr. Henne and Dr. Petito can take your questions in this thread.
(Thanks to Marco for inviting me into their corporate HQ and providing us with a nice quiet space for us to record the interview! I confess that I totally littered their place with cables, microphones, etc… and I didn’t even have Paul around to blame!)