New This Week
Opening a Second Practice: Tips for Success
Penn Moody, OD, owner of Moody Eyes in Indianapolis, Ind., is one year into the acquisition of an existing practice that complements his main practice. In a series of candid videos, he shares tips for succeeding at opening a second practice, and he describes processes where ODs often stumble in managing two practices—even after they think they have thought it all through.>>READ MORE >>
Practice Management
Acquiring a Second Practice: Six Tough Questions to Ask Yourself
By Robert Schultz
Most doctors are surprised at the initial low return of a second practice acquisition. Look at the entire picture, not just the initial return. Here are six tough questions to ask yourself to determine: Do I buy? Or walk away?
Finances
Top Metric to Track: Complete Exams Per OD Hour
By Thomas F. Steiner
This is the second in a series of articles that explore the leading metrics that should be tracked by all independent OD practices—top metrics that can most profoundly influence the financial performance and general success of a practice.
Co-Management
Cataract Co-Management: Make It a Practice-Builder
By David I. Geffen, OD, FAAO
Co-managing cataract patients with pre- and post-operative care is a practice-builder. Tap into this revenue stream and provide a needed service to our aging population.
ROB Fast Fact
How Many Consumers “Very Likely” to Buy Rx Eyeglasses in Next Six Months?
Sales in your optical will be ever challenging this summer, according to results from The Vision Council’s March 2014 Consumer Barometer report. Just 15.1 percent of respondents described themselves as “very likely” to buy prescription eyewear in the next six months. Even fewer describe themselves as “extremely likely” to buy prescription eyewear: just 9.5 percent.
Click HERE to read more from Review of Optometric Business professional editors Carole Burns, OD, FCOVD, and Mark Wright, OD, FCOVD, on helping patients make the decision to buy new prescription eyeglasses.
In Brief
IDOC Announces 2014 Regional Conference Dates
IDOC has released three dates for its 2014 IDOC University Regional Conferences. These one-day events are open to all independent ODs and their staff. Doctors can earn continuing education credit during educational sessions. The conferences will cover a variety of topics including, but not limited to, profitability with managed care plans, staff management, training and motivation, social media marketing and online reputation, and building a digital marketing strategy.
>>READ MORE>>
Two States Adopt Laws Restricting Managed Vision Care Plan Contracts with Optometrists
Following the Georgia Supreme Court’s decision affirming the state’s 2010 Patient Access to Eye Care Act, as reported by VMail Dec. 18, 2013, two other states, Kansas and Vermont, have passed legislation with similar language restricting the latitude managed vision care plans have when contracting with optometrists, primarily disallowing insurance companies from requiring providers to give covered members discounts on non-covered materials and services.
Challenge –> Solution
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Practice Challenge…
How do I find the ideal new office space?Finding a new office space means balancing patient needs and your long-term growth plan with your current financial challenges. Here is how some of our contributors created, found (or transformed an existing space into) exactly what they were looking for.
…Practice Solution
- From the Ground Up: Build Your Ideal Office Space
- Moving Office Space: Careful Planning Pays Off
- Notes on a Successful Renovation: Creating a Patient-Pleaser
Recent Articles of Note
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Getting There: Planning a Successful Optometric Career
By Robert Schultz -
Be Positive, and Always Thank Your Patient
An Optometric Minute video with Eric M. White, OD -
Capture Rate Booster: Train Staff to Fill Patient Prescriptions
By Stuart J. Thomas, OD, and Ellen Byrum-Goad, LDO
