In cataract surgery, accurate intraocular lens (IOL) power calculations are crucial for optimal postoperative refractive outcomes. This study explores the impact of prioritizing the reduction of the standard deviation (SD) of prediction errors before mean prediction error (PE) adjustment on IOL calculation formula precision and accuracy. We conducted a retrospective analysis of 4885 eyes from 2611 patients, all implanted with the same IOL model, comparing four traditional IOL power calculation formulas: SRK/T, Holladay 1, Haigis, and Hoffer Q. We introduced new constants aiming to minimize the SD of PE (new_const) against traditionally optimized constants (classic_const), using a heteroscedastic statistical method for comparison. Validation of precision improvements used a secondary dataset of 262 eyes from 132 patients. We observed significant reductions in mean absolute error (MAE) across training and test sets for Hoffer Q, Holladay, and Haigis formulas, indicating accuracy enhancements. Optimized constants significantly reduced SDs for Haigis from 0.3255 to 0.3153 and for Hoffer Q from 0.3521 to 0.3387. These optimizations also increased the proportion of eyes achieving PE within ±0.25D. SRK/T showed improved SD from 0.3596 to 0.3585. However, Holladay 1 showed minimal change with no significant improvement. In the test dataset, significant reductions in SD were observed for Haigis and Hoffer Q. Prioritizing SD minimization before adjusting mean PE significantly improves the precision of selected IOL power formulas, enhancing postoperative refractive outcomes. The effectiveness varies among formulas, underscoring the need for formula-specific adjustments. The study presents a novel two-step approach for optimizing IOL power calculations.