Effectiveness of Outsourcing
Perhaps the most critical mission of any small business owner in the economy of today is growth – profitable growth.
Widespread advancements in technology, product development and innovations, changing consumer behaviors, and transformations in staff expectations and needs are but just a few of the realities that business owners must deal with while also keeping a keen, active eye on the strategic growth plans of the business.
Independent eyecare practice owners, like many other small business owners, are facing unprecedented market changes. The pace and significance of these changes can be an incredible challenge to keep up with, let alone strategize and make necessary staffing, policy, and procedural changes to protect and grow your business.
The concept of outsourcing select business functions is not new by any means. The options and efficiencies now available to small business owners far exceed those of the past.
At its core, outsourcing enables a business to get more done and trust important tasks and processes to qualified professionals without having to add and manage headcount. It’s true that outsourcing most often helps a small business “save” money, but that’s not the only or even most critical reason to do it.
Wise outsourcing can provide several short and long-term benefits, the biggest of which is the increased space for a business owner to work ON the business rather than IN the business.
This paradigm shift is significant as it enables business owners and managers to shift their focus from peripheral activities toward more strategic work that helps to grow the business and better serve the customer. In the case of Independent Optometry, this opens space to re-prioritize existing staff to focus on revenue-generating activities: increase capture rate, upsell, and other patient nurturing activities.
While adding headcount can be the right choice in certain scenarios, the question about qualifications and focus depending on the job to be done are critical. Many small businesses are staffed by a small handful of individuals who over time become the “jack of all trades and master of none.” This philosophy becomes increasingly less effective, and the more important and specialized the job to be done becomes.
The top three business functions that are helping drive profitable growth, operational efficiency, time savings, and improved customer experience with demonstrable ROI in Independent Optometry include:
- Accounting: Perhaps the most common outsourced, functional department for Independent Optometry practices is accounting. Unless there is a resident financial expert in-house, it can take significant time and training to learn skills, manage software and create processes to manage incoming and outgoing cash. Conversely, the ROI on simply leveraging a reliable consolidated billing group can be huge in not only time savings but in more effective cash flow management.
- Marketing: When it comes to growing your business, there is no shortage of platforms, apps, and freelancers with turnkey, low-cost marketing, and communication solutions to ensure you are consistently engaging with your patients and prospective patients about your business, promotions, news and alerts. The ROI in marketing becomes obvious very quickly as you see your schedule fill up and retail sales increase.
- HR: With staff being the heart and soul of your practice, any task related to hiring, onboarding, or managing your team should be done with expert care. From recruiting to training, benefits administration, time & attendance, and payroll, outsourcing this function to a qualified group with technology platforms drives both efficiency and improved staff support. For these reasons, it is very common in Independent Optometry.
For more information on how CECOP USA can provide effective, reliable outsourcing solutions for your Independent Optometry practice, call 888.466.8263 or visit their website at www.cecopusa.com
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