Finances

Collaboration: Foster Productive Interaction with Peers

By Harue J. Marsden, OD, MS, FAAO

Optometrists often practice in isolation. But when ODs collaborate in a peer-to-peer environment, theycan learn from each other and push one another to achieve greater practice success.

Having a practice that continuously improves rather than rests on its laurels is hard. Maintaining a mindset that strives for excellence is challenging amid the day-to-day work of running a practice. For that reason, gathering with other independent ODs can be just what you need to get a sense of what needs to be changed to provide better service to patients.

For example, in discussion you may find that other doctors have a more efficient way of moving patients through their office (maybe you, too, could have separate counters for paying and picking up eyewear) or maybe you would find that others have invested in instrumentation more intelligently (you never knew that the right leasing program was what you needed). Whatever your challenge, discussing practice realities with other doctors in a collaborative platform like ECPInteract can be a great help. Here is what I have found valuable about the experience.

About ECPinteract…
ECPinteract is a virtual peer learning community, providing ODs with access to the best minds in the eyecare field–their peers. The program is designed to help ODs to learn from their peers’ experiences, past mistakes and successes, and to help ODs achieve their full potential and grow their practice.
To learn more: http://www.ecpinteract.com/

DOWNLOAD:
“ECPinteract Challenge” Ask yourself 20 questions to assess if you will benefit from a peer group—and achieve a “work/life balance.”

Maintain a Collaborative Spirit

With ECPinteract, our peer group of ODsmeet once a month. It’s all online, and we can see other group members on our computer screens. We have a set agenda or questions and issues. The technique used in our ECPInteract discussions provides a doctor with ample opportunity to articulate their thoughts and ideas or questions posed. However, before answers and opinions can be provided we each ask more in-depth questions about the subject. This can result in the doctor posing the question, their own answer or raise other ideas about how to do things. For instance, one recent discussion focused on how to calculate capacity. After our initial discussion this resulted in new ways to look at this determination and has led to an assessment of how we can better measure capacity in our practices.

Another question recently raised in my ECPInteract discussions was how to determine percentages for independent contract employees. There was robust questioning to ensure that the correct terminology was used (associate vs independent contractor) and then the doctor who posed this question went back and did a comprehensive assessment of vision plans and revenue to feel comfortable that the percentage that he was compensating the independent contractor was fair and equitable for him, the practice and the independent contractors. His work figuring out these calculations can now serve as a template for our practices, as well.

I find in peer groups it is important to be open-minded. You can gain as much or as little as you want but participation by all is needed to maximize the content of the discussions. Sometimes different is better and other times different is just different. I always love going to meetings where ideas are shared. Sometimes you realize that you’re not doing as bad as you thought and other times you have a take away of how to do things better. Accountability is important. At our next meeting I’ve been tasked to discuss how we have looked at the impact of the Affordable Care Act, new HIPAA regulations, Meaningful Use and ICD-10, etc., in our practices. This type of homework allows me to stay ahead of the curve.

Geographic Diversity of Collaborators Helps

Each ECPinteract group has geographic diversity, so we’re not talking to the OD down the street who competes with us on price. The geographic location of each of the participating practitioners in ECPInteract is across the nation and even those in the same metropolitan areas are not close enough to be considered competitors. That being said, I feel that we still have a competitive drive between the practices in looking at performance measures and best practices. Other practice management groups spend a significant amount of time looking at financials and using that for competition and others use competition of ideas. It all benefits the participants since it provides another way of looking at one’s practice. Rather than thinking of such financial comparisons as competition, you can maintain a collaborative spirit by talking about them from the perspective of setting benchmarks for success.

I have been amazed at how there are significant regional differences in the way optometry is practiced and the “business” of optometry is managed throughout the nation. This creates a greater diversity of ideas in what trends may or may not work in your practice. Additionally, it gives ideas of how to set yourself apart in your area.

Often Same Challenges Regardless of Size

The sharing of ideas is beneficial no matter what the source. I’m in a unique situation as private practice owner/partner and optometric educator and find that often times what works in one arena is applicable to another. For example, in one discussion, we were looking into activities that we have done to raise practice awareness which include back to school events, trunk shows, etc. Each participating doctor faces the same challenges of providing quality medical care and a sustainable business model.

Solutions to Business as Well as Personal Challenges Like Work/Life Balance

What I love about participating in ECPInteract is that it makes me accountable. I look forward to the two-hour discussion with my peers and after my first quarterly one-on-one it made me go back to review some of the other goals in my personal life that I had set when I enrolled. It is far too easy to put things aside and let one thing over ride the other areas of your life. This really does provide a greater balance to life than just focusing on optometry and business.

I recall being at a state association meeting and a young OD expressed her frustration at her difficulty in finding a balance between practice and raising her family. She asked “how” others have been able to do it and succeed. I was a little stunned when no one stepped forward to address her concern (though there were plenty in the room who had done so). Being single with no children, I did not feel qualified to address her concerns but I knew there were tons of individuals (male and female) who face this challenge day in and day out. Groups like ECPInteract provide a place where doctors can get answers to these kinds of questions, for which many others have input they are waiting to share in a comfortable setting.

Establish Long-Term Relationships

I have personal friendships and long-term relationships with some of the participating doctors in my ECPInteract group, so it is nice to have another thing to share with these individuals. When we see each other at conferences and meetings we have further discussions on some of the topics that have been raised in our monthly meeting. I like the idea of visiting each other’s practices. One of our doctors has relocated one of their offices and I would love to be able to see the new practice–and continue bouncing ideas off each other in person, extending the great learning that began on ECPInteract.

Related ROB Articles

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Peer Business Groups Can Serve as Your Ground Crew

The Power of Peer-to-Peer Learning

Related ROB Video

The Value of Peer-to-Peer Business Groups

Harue J. Marsden, OD, MS, FAAO, is a professor and the associate dean of clinical education at the Southern California College of Optometry. To contact her: hmarsden@ketchum.edu

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