Welcome back to Dry Eye Fireside Chat. In this episode, Damon Dierker, OD, FAAO, sits down with Carly Rose, OD, FAAO, to delve into the unique challenges of developing key performance indicators (KPIs) and a marketing plan for a specialty practice.
As the owner of two very different private practices—Eyecare on the Square (comprehensive care) and Clear Eyes + Aesthetics (dry eye med spa)—Dr. Rose has discovered that these two very different practice models require individualized KPIs and marketing strategies.
Creating KPIs for eyecare practices
In developing KPIs for Clear, Dr. Rose found that she had to take an experimental approach to determine what worked, rather than relying solely on data.
She stated, “With primary care, there are industry standards for every metric you can think of, so you can benchmark yourself against decades of business experience. I feel like with a dry eye med spa, there are zero years of industry KPIs or metrics. We're creating the benchmarks.”
This experimentation led to several key discoveries.
1. Dry eye med spa KPIs were more aligned with aesthetics than traditional eyecare
When establishing KPIs, Dr. Rose realized her dry eye med spas aligned more with aesthetics than with traditional eyecare when it came to viable benchmarks. Therefore, she opted to borrow from the aesthetic industry to establish KPIs that included cost structure, the cash-pay model, and using a results-oriented approach.
According to Dr. Rose, “Initially, I was referencing the optometry industry, and it was apples to oranges. But I feel like the aesthetic industry has a little bit more comparables.”
To learn how optometrists can integrate aesthetics into their practice, check out, Incorporating Ocular Aesthetics into Your Optometry Practice!
2. Marketing must be hyper-targeted and authentic
It became obvious to Dr. Rose that the broad marketing strategies from primary care don’t translate well to a specialty clinic.
She found that guerrilla marketing with a “boots on the ground” approach works best: “I think it is really important to establish yourself as a local expert within the community. I feel authenticity, giving back, and connecting with the community. It is a time investment, but it's an important one, no matter what your practice is.”
3. In a specialty practice, overall patient experience and results are even more important than in a comprehensive practice
Within her dry eye med spa, Dr. Rose focuses on four primary KPIs:
- Patient acquisition
- Overall experience
- Results/clinical outcomes
- Staff efficiency
Whereas patient acquisition is upfront and dependent on the aforementioned focused market, patient experience is much more nuanced.
According to Dr. Rose, “You have to get the patients in the door, and then once they're there, they have to have a good experience—start to finish. You really have to develop your business brand right, which defines how you want the patient to feel while they're there. You have to develop that thoroughly.”
Patients at specialty clinics also tend to have higher expectations and a clearer definition of what exact results they want to achieve.
To learn more about the critical importance of staff efficiency—particularly in regard to pre-appointing—make sure to watch the video.
4. Investing in diagnostics enhances patient satisfaction
Providing a diagnosis backed by images and measurements builds patient trust and compliance. On presenting patients with their data, Dr. Rose stated, “You have to be able to show the patient what you're describing, and the more personalized to them you can go, the better.”
She suggests starting with basics of vital dyes at the slit lamp and building from there to include tools such as:
- Osmolarity
- MMP-9 testing
- Meibography
- Optical coherence tomography (OCT)
5. Incorporating small strategies can get big results
When it comes to “bells and whistles,” Dr. Rose is a huge proponent of bells—transition bells—that is. In both of her practices, she utilizes bells for each station, each with a different tone, to signal to team members what type of visit is underway and when that portion is complete.
This keeps staff informed, which improves the ease of transitions and enhances the overall patient experience.
In closing
Dr. Rose’s experience offers a valuable roadmap for those ready to enter the dynamic world of a specialty practice. And though she offered a wealth of practical advice, one of the biggest takeaways is that opening a specialty practice requires more than a good business plan; it requires passion.
Without genuine interest, the demands of constant learning, innovation, and adaptation can become overwhelming. However, for those deeply committed to dry eye—or another eyecare specialty—setting the right KPIs is one of the first steps on a successful journey.
