Review of Optometric Business

Mark Wright, OD, FCOVD, ROB Professional Editor, discussed new and emerging career pathways for optometrists. Also discussed: applying performance data to practice management and practice transitions. An ROB in-depth conversation with Roger Mummert, ROB Content Director. 

An in-depth discussion on the future of independent optometry with Amir Khoshnevis, OD, and Pete Kehoe, OD, of Vision Source. Interviewed at the WebMD Studio in New York in March 2019 by Roger Mummert, Content Director for Review of Optometric Business. Topics include how to embrace medical model optometry and refocus your practice on delivering wellness care. 

Part 3 of a three-part series. 

An in-depth discussion on the future of independent optometry with Amir Khoshnevis, OD, and Pete Kehoe, OD, of Vision Source. Interviewed at the WebMD Studio in New York in March 2019 by Roger Mummert, Content Director for Review of Optometric Business. Topics include overcoming competitive barriers to learn from colleagues, growth opportunities in rural, as well as urban and suburban areas, and maximizing full practice value through long-term practice ownership and growth-focused management. 

Part 2 of a three-part series. 

An in-depth discussion on the future of independent optometry with Amir Khoshnevis, OD, and Pete Kehoe, OD, of Vision Source. Interviewed at the WebMD Studio in New York in March 2019 by Roger Mummert, Content Director for Review of Optometric Business. Topics include the high growth record of Vision Source practices versus other practices, and the range of services designed to sustain independent optometric practices.

Part 1 of a three-part series. 

Helping the patient to achieve the full treatment plan you prescribe begins with understanding the varied and individual needs of each patient, says Kaleb Langill, chief operations officer for Vision Center of West Texas. Then, let your patient know the full range of goods and services you offer--and make it easy for them to obtain that through patient financing. 

Helping the patient to achieve the full treatment plan you prescribe must include consistently excellent quality in the goods and services you provide as well as support, says Kaleb Langill, chief operations officer for Vision Center of West Texas. The emphasis must be on building value-based relationships with patients over the long haul. 

In order for the patient to achieve the full treatment plan you prescribe the process must be seamless and easy, says Kaleb Langill, chief operations officer for Vision Center of West Texas. Offering patient financing is a critical part of that. Purchasing eyewear can be a considerable investment, Langill points out, but never prejudge a patient's ability to pay--and limit the potential for that patient to obtain the best possible option for them. 

Jill Showalter, OD, of EyeDoctors. in Vienna, West Virginia, shares tips in staff training in building her dry eye specialty. Key points: 

• Make it easy for your patients to get the dry eye treatment they can benefit from.
• Train staff to present and reinforce patient financing.
• Measure success in seeing patients achieve the full treatment plan you prescribe.

SPONSORED BY CARECREDIT
 

Jill Showalter, OD, of EyeDoctors. in Vienna, West Virginia, shares success strategies in differentiating her services and marketing  her dry eye specialty. Key points: 

• Recognize that a wide swath of your patient base can benefit from dry eye treatment.
• Create a concierge-like environment that tells patients this is a differentiated experience.
• Marketing by word-of-mouth and professional recommendation work best.
• Do not stock eyewear; this is a barrier to referrals from other ODs.

SPONSORED BY CARECREDIT

Jill Showalter, OD, of EyeDoctors. in Vienna, West Virginia, describes how her dry eye specialty flourished when she opened a dry eye facility nearby but separate from her optometry practice. Key points: 

• Recognize that dry eye treatment has different space and patient flow requirements.
• Create a concierge environment and train staff so patients get the time and attention they need.
• Build up your services over time, seeing patients at both locations.
• Do not stock eyewear; this is a barrier to referrals from other ODs.

SPONSORED BY CARECREDIT

Key performance indicators let you measure your practice success--and make changes where it counts. Track the areas of your practice that highly impact profitability, such as exams per OD hour, capture rate, and how many AR treatments you sell in the optical.

A practice that is compliant with regulatory, safety and legal standards provides better care and services to patients--and is, in most cases, more profitable and valuable. See how compliance is not a one-and-done obligation; it is a culture to be nurtured within an optometric practice.

A practice that is compliant with regulatory, safety and legal standards provides better care and services to patients--and is, in most cases, more profitable and valuable. See how compliance is not a one-and-done obligation; it is a culture to be nurtured within an optometric practice.

A practice that is compliant with regulatory, safety and legal standards provides better care and services to patients--and is, in most cases, more profitable and valuable. See how compliance is not a one-and-done obligation; it is a culture to be nurtured within an optometric practice. 

Plan as you might, unforeseen events occur. How prepared are you for a sudden downturn, a poor health episode, or a weather-related catastrophe? Assess the preparedness of your practice to deal with such events, then take steps to put contingencies in place. 

“Smart Money” is an ongoing podcast series sponsored by CareCredit and created by Review of Optometric Business, an online business-building publication. Here, ROB Professional Editor Mark Wright, OD, FCOVD, shows ECPs how offering patient financing can improve outcomes for patients and practices. The first installments in this series provide success strategies to improve KPIs, increase capture rate and increase multiple eyewear sales with patient financing. 

“Smart Money” is an ongoing podcast series sponsored by CareCredit and created by Review of Optometric Business, an online business-building publication. Here, ROB Professional Editor Mark Wright, OD, FCOVD, shows ECPs how offering patient financing can improve outcomes for patients and practices. The first installments in this series provide success strategies to improve KPIs, increase capture rate and increase multiple eyewear sales with patient financing.

“Smart Money” is an ongoing podcast series sponsored by CareCredit and created by Review of Optometric Business, an online business-building publication. In this podcast, listeners will learn to track KPIs, measure to manage, increase capture rate 10 percent, generate $70,000 more in revenues, and present patient financing to benefit patients and practice.

Net cash flow is the most critical metric in practice management and practice valuation. Here are keys to maintaining a positive cash flow that allows you to manage comfortably, expand services and sales, and readily borrow to make improvements. .