Dr. Shaheen (far right as you look at photo, standing) reviews findings of an OCT scan. The OCT was an investment that proved invaluable for providing advanced care and increasing the practice’s profitability.
Enhancing care and profitability in eyecare practices
By Michael K. Shaheen, OD
March 5, 2025
As an eyecare practitioner, I always believed in the importance of adapting to the ever-evolving landscape of our field.
Over the past few years, I implemented several changes in my practice that not only enhanced patient care, but also significantly boosted profitability.
Here’s a look at the transformative changes we made, the reasons behind them and the positive outcomes we experienced.
Implementing Advanced Diagnostic Technology
What Was It?
We decided to invest in advanced diagnostic technology, specifically Optical Coherence Tomography (OCT), topography and digital retinal imaging.
Why Did We Do It?
Our goals were clear:
- Early Disease Detection: Advanced imaging helps catch conditions like glaucoma, macular degeneration and diabetic retinopathy earlier, allowing for timely intervention.
- More Efficient & Comprehensive Exams: Faster, more precise diagnostics streamline workflow, reduce chair time and improve overall practice efficiency.
- Enhanced Patient Trust & Education: Showing patients high-resolution images of their eyes creates a “wow” factor, building credibility and improving compliance with treatment plans.
- Staying at the Forefront: We aimed to be the trusted ECPs for local medical doctors and endocrinologists, ensuring they refer patients to us for co-managed comprehensive care.
How Did We Do It?
We began with a cost-benefit analysis before purchasing the equipment. Next, we trained our staff on workflow implementation and educated patients on the value of these devices.
Finally, we ensured proper medical insurance and billing codes were used to maximize reimbursement for medical eyecare.
Staff Training
We needed to train our staff not only on how to use the machines, but also on when and how to incorporate them into the flow of an eye exam. The manufacturers provided onsite expert training, which saved us invaluable time.
Costs Involved
The capital cost for our upgraded machines was around $130,000 to $150,000. However, we found that refurbished models could save us 30-50 percent, which helped offset the costs significantly.
Positive Impact on Patient Care
This change directly improved early detection of various eye diseases, increased patient trust and increased retention due to a more comprehensive level of care. We also found that patients understood the overall impact of eye exams on their health, especially when we communicated with their primary care physicians.
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Profitability Metrics
The reimbursement from medical insurances for tests like OCT (CPT 92133, 92134) ranges from $40 to $60. If we averaged $40 reimbursement for OCT testing and performed 10 tests per week, that would yield an additional $22,800 in revenue annually.
Overall, this change increased our billable medical procedures and allowed us to offer premium services.
Adding Specialty Services
What Was It?
We decided to add specialty services to our practice, focusing on high-demand areas that fit our demographic. We chose specialty contact lens fittings, myopia management and dry eye management.
Why Did We Do It?
We aimed to meet the specific needs of our patient base and differentiate our practice from competitors.
How Did We Do It?
We conducted an in-office assessment to identify the specialties in demand. Each of our three doctors brought unique strengths to these areas, allowing us to refer patients to the appropriate provider. We also marketed these services through social media and local referral networks.
Staff Training
We implemented slight training adjustments to enhance our questioning techniques during patient care. This was integrated into our normal workflow, ensuring a seamless experience for patients.
Costs Involved
The main cost was time, as specialty cases can be more complex. We invested in scleral fitting sets and a topographer, which cost between $10,000 and $30,000. Marketing expenses were minimal, totaling around $1,000 to $2,000.
Positive Impact on Patient Care
By offering these specialty services, we catered to our current patients and attracted new ones through word-of-mouth referrals.
Profitability Metrics
Each scleral lens patient generates between $1,000 and $2,500 annually, while myopia management patients contribute around $500 to $1,250 per year.
Our dry eye patients currently generate about $500 more per year, with potential for growth as we expand our services.
Optimizing Scheduling and Workflow Efficiency
What Was It?
We aimed to optimize our scheduling and overall workflow efficiency by implementing an automated patient recall and appointment reminder system.
Why Did We Do It?
We wanted to enhance the patient experience and reduce wasted time for our staff and doctors. By improving our EHR integration, we aimed to reduce no-shows and fill appointment gaps.
How Did We Do It?
We assessed our practice from a patient’s perspective and consulted with our staff to identify areas for improvement. This led us to implement an automated recall and appointment reminder system.
Staff Training
We provided training for our staff on the new automated system, which took about a week. The implementation went smoothly, and we were able to address any necessary solutions collaboratively.
Costs Involved
The initial setup fee for the automated system was between $500 and $1,000, with monthly costs ranging from $300 to $500. However, we found that we were saving time and improving efficiency.
Positive Impact on Patient Care
The automated recall system reduced missed appointments by 35 percent. Patients appreciated the reminders, which helped them remember their visits and reduced wait times. We also introduced digital intake forms and feedback systems to enhance the patient experience.
Profitability Metrics
Implementing these changes can significantly boost profitability. Practices typically see a 30-50 percent drop in missed appointments, which could mean an extra $45,000 to $70,000 in revenue annually.
Additionally, we improved patient return rates by 25-30 percent, further increasing our income.
Final Thoughts
In conclusion, adapting and innovating in our practice led to substantial growth and improved patient care.
By investing in advanced technology, adding specialty services and optimizing our workflow, we positioned ourselves as a leading eyecare provider in our community.
Remember, the key to success is to keep evolving and meeting the needs of your patients.
Michael K. Shaheen, OD, is co-owner of Hills & Dales Vision, Inc., in Canton, Ohio. To contact him: drmikeshaheen@gmail.com
