By Amir Khoshnevis, OD 
I’ve always been intrigued by the 80/20 Rule. This general rule, referred to as Pareto’s Principle, is often applied to wealth (80 percent of wealth is held by 20 percent of the population), but it is also remarkably valid in the management of our practices. For example:
80 percent of our sales are generated by 20 percent of our staff
80 percent of our sales come from 20 percent of the products we offer
80 percent of our time is spent managing 20 percent of our staff (problematic staff)
80 percent of our complaints come from 20 percent of our patients
80 percent of our prices are dictated by 20 percent of our patients
I’m sure you have your own list, but for the sake of utilizing this rule to our benefit, let’s focus on two key lessons of the 80/20 Rule:
1. In order to understand the gravity of any issue, examine whether it is the rule or the exception. As I mentioned, we often spend most of our time managing or addressing issues that are generated by 20 percent of our patients or staff. While it’s important to listen, and maybe delegate, it is critical we not dedicate a disproportionate amount of our limited time and energy trying to solve these outliers. In our practice, because we understand 80 percent of patients are “value-driven” while 20 percent are “price-driven,” we often remind ourselves to avoid change in policy, products or pricing just to please the exception.
2. Our practices can enjoy significant improvements if we channel our energy on the areas of the practice that deserve our attention and learn to ignore, delegate or prioritize the exception to the rule. As owners, if we spent more time developing staff, focusing on the patient experience, managing our optical and contact lens departments, or closely monitoring accounts receivables, we would enjoy greater prosperity. Creating the policies and personnel that can manage, or better yet, prevent the daily “fires” can give you the freedom to become the CEO. Your role is to protect and grow your brand…and see a few patients while you’re at it.
How do you ensure that your practice management strategy is tailored to the majority, rather than minority, of your patients?
Amir Khoshnevis, OD, founded Carolina Family Eye Care in 2003. He is a graduate of the Pennsylvania College of Optometry and is a Vision Source Administrator. Dr. Khoshnevis serves as a Professional Development Consultant for Alcon and lectures nationally on practice management topics. He also serves as a national committee member for Optometry Giving Sight. To contact him: drk@carolinafamilyeyecare.com.
