Let’s talk about money…
If you are not profitable, you cannot keep up with investing into the technology, equipment, people and products that help produce great patient care. I have a friend that was the president of a non-profit hospital group. He said that even non-profits have to be profitable, otherwise they would be in the same boat: it takes money to invest in the newest equipment and technology, and if you don’t do that, eventually the patients will be going somewhere else for their care.
The easiest way to build value and profitability is to build your sales dollars with incremental sales. Incremental sales are sales dollars in excess of what you would typically collect that make a huge difference in profitability. Why? Because you are already paying the rent, the utilities, the staff, etc. so each additional dollar falls largely to your bottom line profit! Typically eye care practices have about 30% cost of goods, so nearly 70% of additional sales will fall to the bottom line. All of this is possible without seeing additional patients!
When you contract our consulting for profitability services we charge an initial fee that includes the following services.
- Business analysis
- Building a custom action plan
- Building custom implementation tools
- Onsite and distant training for officers and staff
- Progress monitoring and process adjustments
Subsequently, we only make money if you do. In the analysis we identify a performance baseline from the past year. After the initial setup fee all our earnings will be based on your business out performing that baseline revenue.
BOOK A CALL
WHAT OUR CLIENTS ARE SAYING
I had been negotiating a possible sale with an ophthalmologist, but after a couple of years and no action, I hired Eric. We tried to finalize the purchase with the ophthalmologist, but it wasn’t meant to be. I gave Eric the go-ahead to put the practice “on the market”. I had four possible offers within a couple of weeks!!
A full price offer with a reputable buyer occurred within a month of the listing.
Needless to say, I highly recommend Eric and his team at OptiRova, LLC. His professionalism, background in the optical industry, and knowledge was, and is, invaluable to the practice sales process.
Eric used his skills as a matchmaker to identify multiple potential buyers. He ultimately found a party that fit both our needs, allowing me to continue seeing patients there part time resulting in a true win win scenario. All in a confidential process.
Eric Rollins did a fine job of cultivating prospects for the purchase of my practice. Good advise throughout the sale process. Very satisfied.
Eric has a good network of potential buyers and sellers. He and OptiRova are a good resource no matter which side you fall on.
In April of 2014, Eric Rollins informed me that he provides consulting services and believed he could help in the sale of my practice. After Eric carefully analyzed the practice data and then instituted his plan of action, he produced many interested prospects, one of which was the eventual buyer. Time span? – two to three months. I was able to retire exactly in my hoped for schedule.