1:30min
Optometry Australia recently spoke with independent optometrist, Murray Smith, to explore whether, in his experience, financially focused KPIs genuinely improve optometry business outcomes.
Core values: Prioritising patient care
Murray Smith, who has been practising optometry for many years, says his practice is built on a foundation of high-quality, patient-centric care. His team focuses on long-term relationships rather than transactional interactions, ensuring trust and continuity in the patient experience. According to Murray, this philosophy drives business sustainability by fostering patient loyalty and word-of-mouth referrals, which naturally support financial stability.
‘We’re all about making sure we provide the best quality care,’ he said. ‘We want our patients to have a great experience. It’s about having an interaction with a really skilled and knowledgeable team, including the optometrist, and being able to trust in the care that’s provided and the advice that’s given. That really speaks to what makes our business sustainable.’
The business model: Benchmarking over KPIs
Rather than enforcing rigid KPIs on his staff, Murray relies on industry benchmarking and peer discussions to gauge his practice’s performance. While acknowledging the financial imperative of running a business, he believes that setting strict revenue or conversion targets can create tension between patient care and business needs. Instead, his practice measures success by growth trends, patient satisfaction and the overall wellbeing of his staff.
‘We focus on our core value of providing real patient care. And we feel that that’s going to provide sustainability. But, we are running a business so we do need to reflect on what is both good care and good business practice within the broader industry. Benchmarking is how we achieve that.’
The impact of financially-focused KPIs
Murray explained he has firsthand experience working under strict financially-linked KPIs in other businesses and found that they often negatively impacted both job satisfaction and clinical decision-making.
In his view, revenue targets and sales quotas can force optometrists into an ethical dilemma, where they must balance business expectations with what they believe is best for their patients. Over time, this pressure can erode job satisfaction, increase stress, and even drive skilled optometrists out of the profession.
‘I’ve had KPIs implemented on me that I didn’t have any input in, and I didn’t get a chance to give feedback,’ Murray said. ‘In my experience it doesn’t improve the quality of interaction with the patient and ultimately, I think it speaks to not necessarily looking at KPIs as a long-term approach.’
What’s the alternative?
Rather than implementing blanket financial KPIs, Murray prefers a tailored approach to performance management. His practice emphasises regular, informal check-ins rather than traditional annual performance reviews. This approach fosters open dialogue, allowing optometrists to feel supported and engaged in their professional growth. By involving his team in setting their own performance goals, he ensures that motivation is aligned with both individual and business objectives.
Happy optometrist = happy patient
A key insight from Murray’s experience is the direct correlation between optometrist satisfaction and patient experience.
When optometrists feel valued and are not pressured by financial KPIs, they can focus fully on providing excellent patient care. This, in turn, enhances patient satisfaction, leading to increased loyalty and referrals. This will ultimately benefit the business financially without the need for strict KPIs. Put simply, a happy optometrist equals a happy patient, and happy patients are key to a successful optometry business.
Measurable business outcomes
Despite not using financially focused individual KPIs, Murray’s practice continues to experience steady growth. He attributes this success to a committed and happy team, where employees genuinely want to come to work. His approach reinforces the idea that financial viability and profitability can be achieved through a positive work culture rather than through rigid financial targets.
‘Profitability is important of course, but I think there’s great value in just having a happy work environment where staff are willing and happy to go to work,’ he said.