Nathan Hayes

Nathan Hayes is the Manager of Business Development for Red Tray and Editor of sellingtoecps.com.

Reps are welcome to contact him at 404.934.3535 or to send him an e-mail if you have questions about how Red Tray can benefit your accounts or with general comments about selling to ECPs.

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When is an in-house edger “penny wise but pound foolish”?

Posted on December 30, 2008
Filed Under Articles, Coaching your Customers, Justifying Lab Services | Leave A Comment

Here is a great comment from Dan Floyd, a Hoya Rep in Atlanta. I welcome your thoughts as well.

Nathan,

Your blog on ‘understanding cost of goods’ was right on point.

In my opinion, many Doctors and the staff they have are operating by feel. They often voice they are not making any money, yet have no idea as to “cost of goods”.

Many offices have put in finishing labs. To my amazement, they only looked at how much they save on the cost of the lens when they edged the job themselves. None have factored in the cost of the $45K edger, the time it takes (wages), supplies, and spoilage. Read More

‘Pitch’ selling vs. ‘consultative’ selling

Posted on December 23, 2008
Filed Under Articles | Leave A Comment

When you call on a practice, are you just trying to get them to buy your product, or are you helping them to grow their bottom line? In other words, are you “pitching” your lab or are you “consulting” with the practice owners on solutions to problems? Read More

Last-minute tax tips for your accounts

Posted on December 18, 2008
Filed Under Articles | Leave A Comment

I recently spoke with J. R. Armstrong, CPA of May Company, for some ideas on last-minute tips ODs might use to lower their tax bill in April 2009. His firm does tax work for over 100 ODs in 29 states. To give you an insider’s look into this aspect of practice management, here is his advice to ODs: Read More

The unexpected effects of VSP on cost of goods

Posted on December 12, 2008
Filed Under Articles | Leave A Comment

In conversations with many practice owners, I consistently hear that managed care, especially VSP, causes the cost of goods, as a percentage of gross in an OD practice, to increase.

Like many other aspects of managed care, there is no simple or straightforward answer. However, we can say that the impact of managed care on cost of goods depends on who pays for the frames and lenses: the OD or the Read More

Why does cost of goods matter?

Posted on December 5, 2008
Filed Under Articles | 1 Comment

As a rep, you’re probably used to hearing practice owners complain about how high their lab bills are. Next time you hear that, tell the doctor, “Congratulations, that means your practice is doing well!”

Part of your job is to help the doctor understand that as long as his or her margins are good, a big lab bill is a good thing. It means that he is doing a lot of business.

Next week, I want to discuss how managed care programs like VSP affect your accounts’ Cost Of Goods. However, before I do that, I’m going to give you a global look at the 7 key expense areas of private optometric practice. Read More