A final thought we’d like to reiterate before moving on is: This isn’t about greed or taking advantage of any of your patients. This is about doing what’s best for your business and what’s required to aggressively compete in today’s optometric climate. By optimizing your business’s profits, you’re creating a healthier organization that can take better care of its staff and patients.
Any independent optometrist’s focus should be on building and maintaining their own brand, not furthering the brands who are taking advantage of doctors or directly putting them (and the rest of independent optometry) out of business. We at Pivotal Group have worked hard to acquire the expertise that helps doctors, like you, serve their patients better, afford, attract, and maintain the best talent in the region, comfortably purchase new equipment whenever it’s needed, and ultimately position themselves and their loved ones to have the best life possible.
Build your brand and don’t rest until you achieve the net profit margins your business deserves (likely at least 30% – 40%+). Independent optometrists aiming for anything short of this will continue to be edged out of this rapidly-consolidating, dog-eat-dog industry.