·The economy is growing and our industry is along with it.
· Independent ECPs need to be proactive in our marketing or we'll be left behind.
· A social media presence and an up-to-date website are a must for all ECPs.
· There is a variety of product out there. It's important to know your practice demographic and buy accordingly.
· Financing options -- CareCredit is one example -- are an important tool for upgrading patients' eyewear selections and selling multiple pairs, especially in the managed care environment.
· In the face of mounting competition, make sure your office is modern and up-to-date. Take an objective look at your dispensary and ask yourself if it's a place where you'd feel comfortable shopping. If not, it's time to upgrade the appearance.
· Private equity funds are circling our industry for investment opportunities.
· Consolidation is inevitable.
· As doctor alliance groups begin to sell out (some already have) to private equity or corporate entities, affiliating with a buying group will continue to be crucial to the financial health of your practice.
This post originally appeared in the October issue of BBG's Blockbusters newsletter.