Why Your Practice Should Embrace Electronic Health Records…Now!
By ROB Editors
EHR Systems Save Time and Money.
An investment now could gain more than $100,000 back in a year. It cuts down on the staff time spent per patient, which reduces overhead and makes more room in the day to see patients. So revenue goes up while costs goes down.
Price Frames to be Profitable in Today’s Managed Care Environment
By Jay Binkowitz
Have you adopted a business philosophy that supports profitability with managed care? If not, you may be losing money on your frames, and you don’t even know it.
Many practices still rely upon a three-times-wholesale mark up formula, a 15-year-old philosophy that was common before managed vision care became the formidable force it is today. How about those of us that are not marking up three times? Are you an OD who believes that you will make more money simply by filling up the appointment book and seeing more patients? With the wrong mark-up philosophy, you will be losing more money.
Prescribing from the Chair
By Mark Wright, OD
When optometrists treat an eye infection, they prescribe a pharmaceutical agent by brand name: “We are going to treat that infection with VIGAMOX®,” the patient is told. Likewise, in the exam room, eye doctors routinely prescribe brand specific contact lenses: “Based on my examination today, and to keep your eyes healthy, I am prescribing NIGHT& DAY contact lenses for you.”
But when optometrists recommend ophthalmic lenses, they often shy away from a strong and specific recommendation for a premium product.
Are You Managing or Motivating Your Staff?
By Craig Bowen, OD
“Managing or Motivating?” This is a bit of a trick question, since managing and motivating staff are not mutually exclusive. To have a successful practice, you must do both.All staff members need to be motivated and managed. It’s easy to encourage those who are mostly self-motivated. Those that aren’t require an external force. Likewise, all staff need to be managed, albeit some more than others.
Help Us Build a Coding and Billing Resource
By Mark Wright, OD
How Much Do Independent Practice ODs Make per Hour?
By Thomas F. Steiner
The Management & Business Academy™ (MBA), sponsored by CIBA VISION and Essilor, has collected financial and productivity data from eye care practitioners participating in the program since its inception in 2005. At present, data are collected from more than 1,200 established, independent optometric practices in the U.S. During 2008-2009, the First Practice Academy™ (FPA) —an extension of the MBA— has collected similar data on nearly 250 independent optometric practices during their first three years in operation.
