o.d. to o.d.

Are You Ready for 2015?

If terms such as strategic planning or goal setting lose you, then make 2015 your year to get lost

BY SCOT MORRIS, O.D., F.A.A.O.
Chief Optometric Editor

Strategic planning, business strategy, goal setting, management by objective …

Are you still here, or did I scare you away? Those are some of the most feared and misunderstood terms in business vocabulary. Yet, if you run a business of any size, you need to act on these terms. As 2015 approaches, I ask: Are you ready?

Ask, what four BIG things do you want to accomplish in your personal life? What four BIG things do you want to accomplish in your practice or professional life? Write them down. Be specific. Break them into achievable pieces. Don’t say improve revenue (that’s like saying losing weight — a resolution that lasts until half-time of the second game New Year’s day). Do it right. Have a plan, and follow it.

Effective strategic planning for 2015 might look something like this:

► We will improve our average revenue per patient to $302 by April 1. By doing so we will have enough income to take a staff trip, get a raise, etc.

► I will measure our current revenue per patient by Jan. 7.

► I will communicate our goal on Jan. 8 during a staff meeting that I will set up and plan for on Jan. 2.

► We will post an average daily revenue per patient grid on Jan. 9. Maria is responsible for updating it daily. We will break revenue into service and product categories.

► We will increase annual supply CL sales rate by 20%. Rhonda is responsible for tracking and changes.

A lot better than improving revenue, right?

“Short list” ideas

Here are some of the things you may want to consider for your “short list.” Start the strategy process now so when Jan. 1 rolls around you are ready to hit the ground running.

► Human resources. What 12 things do you want to train your staff on? (This is only one per month or one per 20 business days). Maybe it is something as simple as saying thank you every day or having a staff meeting once a week.

► Finance. What are your revenue goals for 2015? What is this per month and per day? What is your budget for 2015? There are dozens of numbers, but just pick four major numbers to focus on for all of 2015. Remember, what you measure usually improves.

► Operations. What areas need improvement (e.g., HIPAA training, workflow or writing our scripts)?

► Purchasing. What four things do you plan to purchase? Did you build these into your budget above? What is your timeline?

► Inventory. Ponder the “Big Three” questions: Do you know what you have? Do you know what you want? Do you know what you really need? Devise a plan to figure these out.

Remember, in order to hit a goal, you must first have one. So before 2015, set aside time to plan where you want to be by this time next year. Strategize, talk to your staff, and write it down. Then go do it!

Stay tuned

Stay tuned to OM as we undergo some changes in the coming months and strengthen our commitment to be your go-to resource on how to improve every part of your practice — and maybe even some things in the rest of your life, too. OM