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By Benjamin Lickteig, OD
Oct. 23, 2019
Your practice has many numbers to track–if you want to remain profitable and maintain strong growth. My practice has found just the tool it needs to do this with ABB Analyze, powered by Glimpse.
Here is how we use this technology to do better for both our patients and our business needs.
Implement an Easy, Streamlined Metrics-Tracking Solution
I have been using ABB Analyze for the last six months. Numbers never lie; therefore, I have always been a data-driven practice owner. In the past, collecting all the information that I needed to make informed business decisions, and setting practice goals and benchmarks, was time consuming and burdensome.
I dreamed of a day that a system would be able to collect this information for me directly from my EHR and lay it out in a way that was easy to read and simple to use. ABB Analyze was the system that allowed that to happen.
Keeping a Finger on the Daily Pulse of the Practice
The information from my EHR gets pulled into ABB Analyze at around 7 a.m., so my daily snapshot report is ready for me to review when I first get to the office every morning. The daily snapshot report tells me how many comprehensive eye exams each of my four locations did the previous day. I also can see how many ancillary services were performed, such as optomaps, contact lens fits, etc.
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The daily snapshot also compares how we did on that same day from last year. So, very quickly we can assess if we have achieved exam growth from the previous year.
I also try to remember that there can be many fluctuations in the data if your sample size is too small. So, the daily snapshot is just that: a snapshot. I can easily change the filters in ABB Analyze to reflect how each location is doing on a weekly, monthly, quarterly or yearly basis. I typically analyze the weekly reports first thing on Monday mornings each week. I do the same thing on a monthly and quarterly basis, as well.
Compare & Track Staff Productivity
The feature in ABB Analyze that has helped me the most has been the ability to compare each employee’s (both staff and doctors) productivity to their productivity from the previous year. When the conversation about raises occurs at a performance review, I can use these reports to assess whether a raise is warranted, and if so, how big of a raise each employee has earned.
I hope every year I am able to increase employees’ wages; however, these reports allow me to take emotion out of my business decisions. These reports are also good coaching tools to help employees attain their benchmarks.
I love being able to see how each individual doctor drives certain metrics, such as contact lens sales and optomap acceptance rate. I can then celebrate an OD’s strength and coach to their weaknesses. If I have two doctors working at the same location, and they have the same percentage of contact-lens patients, yet one doctor has significantly higher contact lens revenue than the other, I know who to celebrate and who needs coaching.
Set Goals
Setting goals is important in business and in life; however, there needs to be a clear path on how to achieve that goal. A goal of “I want to lose 10 pounds” is too vague. You need to create certain parameters with the goal to make it more achievable. I take the SMART approach to goal-setting. SMART stands for: Specific, Measurable, Attainable, Relevant and Timely.
ABB Analyze has allowed me to be a better goal-setter and a better communicator to my team on how we are going to accomplish those goals. The Game Center within the ABB Analyze software allows me to set a goal based on a metric that I hope to drive. I then can specify the time frame within which we hope to accomplish the goal and Analyze does the rest by tracking the metric daily!
The usage of the Game Center has resulted in an increase in revenue, an increase in staff bonuses and increased staff motivation and morale, focusing us all on a common goal.
Track Success of Different Practice Locations
Each location is at a different point in its own growth plan, so I can expect the numbers to vary greatly from one location to another. However, what is extremely useful is that I am able to use ABB Analyze to establish each location’s growth trend. I can then take a proactive approach to hiring doctors and support staff at each location.
Some practices resist hiring new doctors because of the cost to the practice. While it is true that your payroll will increase, I get excited to think about the growth potential an extra doctor could create for the practice.
Share Practice Metrics with Staff
The three metrics I share with staff and doctors the most are exam growth, optomap acceptance rate and contact-lens revenue. Each staff member and doctor can have a significant impact on each one of these metrics. I try not to have my staff and doctors suffer from analysis paralysis; therefore, weekly meetings on the numbers are few and far between.
I may do a quick check-in with an office if the numbers are suffering greatly on a week-to-week basis, but typically there are monthly conversations about the metrics. I feel the quarterly reviews are most important to have a detailed performance review with key individuals.
Work ON the Practice; Not Just IN It
Part of the joy I get out of running a business is working ON the practice and not just IN it. ABB Analyze, powered by Glimpse, has been my report card and my feedback system to let me know how I am doing at that. It has really made practice management fun!
Benjamin T. Lickteig, OD, is the owner of Lickteig Family Eyecare, with four locations in the Boston area. To contact him: drlickteig@lickteigfamilyeyecare.com
