March 6, 2019
ODs generally try to drive practice growth by increasing exam volume, but high volume for fixed or declining reimbursement won’t get you there, says Nicholas Despotidis, OD, FCOVD. He tells how he transformed his practice to specialty medical care with premium fees–and increased both net profits and overall work satisfaction.
Moving Away from a High-Volume Approach |
Practice Your Values |
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| FOCUS ON CARE. Rather than focusing on selling commodities like contact lenses and eyewear, you can build a practice focused on specialized care.
NARROW INSURANCE PANEL PARTICIPATION. Accepting fewer insurance plans can be the first step to attracting fewer, but more profitable, patients. ENHANCE QUALITY OF CARE. You have to be even better if patients are going to want to come to you regardless of whether you accept their insurance.
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CONCENTRATE ON INTERESTS. Rather than blindly trying to increase volume of patients, build a practice that incorporates the specialized care interests that drew you to optometry. LESSEN NEED TO REFER. When you offer greater specialized care, you keep patients in-house, whom you would refer out in a high-volume practice. INSTILL TRUST. Provide personalized care to patients, so they know they can trust you to prescribe services and products especially for them. They then will refer many others.
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