Review of Optometric Business

ROB Professional Editor Mark Wright, OD, FCOVD, speaks with Miki Lyn Zilnicki, OD, FCOVD, and Jessica Licausi, OD, FAAO, FCOVD, about how they differentiated their practice with vision therapy services, including how they leverage patient financing to grow their practice.

Dr. Mart Wright and Dr. Roxanne Achong-Coan discuss maintaining a strong cash flow and insights from the year 2020. 

 One area of practice that has grown consistently over the last decade within optometry practices is medical care. Dr. Mark Wright and Dr. Matthew Ward discuss how we can do this even better. 

Dr. Mark Wright and Dr. Justin Manning discuss creating a winning Patient Experience.  

In a podcast sponsored by Visioneering Technologies, Inc., (VTI) Susan Resnick, OD, FAAO, FSLS, president of Drs. Farkas, Kassalow, Resnick & Associates in New York City, shares how to ensure comfort and a high level of satisfaction among multifocal contact lens wearers, including the difference having a lens like NaturalVue® Multifocal 1 Day Contact Lenses makes to successfully serving these patients.

Building Ortho-K services requires guidance from experienced practitioners, the right instrumentation and a great lens design. As a part of the The Ortho-K Knowledge Bank, Steven Turpin, OD, MS, shares how he created a thriving Ortho-K practice.

Presenting Ortho-K to patients and parents can be an uphill climb. You often need to communicate the very concept of Ortho-K, describe the process it entails, set expectations and establish the overall value of it. As a part of the The Ortho-K Knowledge Bank, Steven Turpin, OD, MS, offers advice on successfully making Ortho-K a part of your practice.

Dan Press, OD, FCOVD, of Park Ridge Vision in Park Ridge, Illinois, discusses how educating patients and families on the benefits of myopia management are key to success in this specialty. A third-generation OD and VT specialist shares valuable insights.

Mark Kahrhoff, OD, speaks with ROB Profession Editor Mark Wright, OD, FCOVD, on how he came to develop a practice specializing in rehabilitative care for patients who suffer concussions, dementia and other conditions that affect the visual system.

Damon Dierker, OD, of the Intrepid Eye Society.

Whitney Hauser, OD, and Mark Schaeffer, OD, offer their thoughts on how optometric education and CE need to change to meet fast-changing needs of ODs in practice and entering practice. This ROB In-depth discussion is moderated by Mark Wright, OD, FCOVD, ROB Professional Editor.

Larry Macapagal, OD, Director of Optometry at Permanente Medical Group in Southern California, speaks with ROB Professional Editor Mark Wright, OD, FCOVD, on how a large medical organization engages with patients through telehealth to widen access to care and improve eyecare delivery.

ROB Professional Editor Mark Wright, OD, FCOVD, explores the question: "Can an OD trained in clinical skills cross over and think like a business person?" Taking part in this ROB roundtable are thought leaders Penn Moody, OD, of Indianapolis and Michael Kling, OD, of San Diego.

Michael Kling, OD, speaks with Mark Wright, OD, FCVOD, ROB Professional Editor, on the full range of considerations that go into selling your practice to Private Equity-backed firms or to other ODs. "The question is complex," says Dr. Kling, "and you need to consider your personal timeline and understand the details to make the right decision at the right time for you."

Mark Wright, OD, FCOVD, ROB Professional Editor, discussed new and emerging career pathways for optometrists. Also discussed: applying performance data to practice management and practice transitions. An ROB in-depth conversation with Roger Mummert, ROB Content Director.

An in-depth discussion on the future of independent optometry with Amir Khoshnevis, OD, and Pete Kehoe, OD, of Vision Source. Interviewed at the WebMD Studio in New York in March 2019 by Roger Mummert, Content Director for Review of Optometric Business. Topics include how to embrace medical model optometry and refocus your practice on delivering wellness care. Part 3 of a three-part series.

An in-depth discussion on the future of independent optometry with Amir Khoshnevis, OD, and Pete Kehoe, OD, of Vision Source. Interviewed at the WebMD Studio in New York in March 2019 by Roger Mummert, Content Director for Review of Optometric Business. Topics include overcoming competitive barriers to learn from colleagues, growth opportunities in rural, as well as urban and suburban areas, and maximizing full practice value through long-term practice ownership and growth-focused management. Part 2 of a three-part series.

An in-depth discussion on the future of independent optometry with Amir Khoshnevis, OD, and Pete Kehoe, OD, of Vision Source. Interviewed at the WebMD Studio in New York in March 2019 by Roger Mummert, Content Director for Review of Optometric Business. Topics include the high growth record of Vision Source practices versus other practices, and the range of services designed to sustain independent optometric practices.Part 1 of a three-part series.

Helping the patient to achieve the full treatment plan you prescribe begins with understanding the varied and individual needs of each patient, says Kaleb Langill, chief operations officer for Vision Center of West Texas. Then, let your patient know the full range of goods and services you offer--and make it easy for them to obtain that through patient financing.

In order for the patient to achieve the full treatment plan you prescribe the process must be seamless and easy, says Kaleb Langill, chief operations officer for Vision Center of West Texas. Offering patient financing is a critical part of that. Purchasing eyewear can be a considerable investment, Langill points out, but never prejudge a patient's ability to pay--and limit the potential for that patient to obtain the best possible option for them.

Helping the patient to achieve the full treatment plan you prescribe must include consistently excellent quality in the goods and services you provide as well as support, says Kaleb Langill, chief operations officer for Vision Center of West Texas. The emphasis must be on building value-based relationships with patients over the long haul.

Jill Showalter, OD, of EyeDoctors. in Vienna, West Virginia, describes how her dry eye specialty flourished when she opened a dry eye facility nearby but separate from her optometry practice. Key points: Recognize that dry eye treatment has different space and patient flow requirements.Create a concierge environment and train staff so patients get the time and attention they need.Build up your services over time, seeing patients at both locations.Do not stock eyewear; this is a barrier to referrals from other ODs.SPONSORED BY CARECREDIT

Jill Showalter, OD, of EyeDoctors. in Vienna, West Virginia, shares success strategies in differentiating her services and marketing her dry eye specialty. Key points: Recognize that a wide swath of your patient base can benefit from dry eye treatment.Create a concierge-like environment that tells patients this is a differentiated experience.Marketing by word-of-mouth and professional recommendation work best.Do not stock eyewear; this is a barrier to referrals from other ODs.SPONSORED BY CARECREDIT

Jill Showalter, OD, of EyeDoctors. in Vienna, West Virginia, shares tips in staff training in building her dry eye specialty. Key points: Make it easy for your patients to get the dry eye treatment they can benefit from.Train staff to present and reinforce patient financing.Measure success in seeing patients achieve the full treatment plan you prescribe.SPONSORED BY CARECREDIT

Key performance indicators let you measure your practice success--and make changes where it counts. Track the areas of your practice that highly impact profitability, such as exams per OD hour, capture rate, and how many AR treatments you sell in the optical.

A practice that is compliant with regulatory, safety and legal standards provides better care and services to patients--and is, in most cases, more profitable and valuable. See how compliance is not a one-and-done obligation; it is a culture to be nurtured within an optometric practice.

A practice that is compliant with regulatory, safety and legal standards provides better care and services to patients--and is, in most cases, more profitable and valuable. See how compliance is not a one-and-done obligation; it is a culture to be nurtured within an optometric practice.

A practice that is compliant with regulatory, safety and legal standards provides better care and services to patients--and is, in most cases, more profitable and valuable. See how compliance is not a one-and-done obligation; it is a culture to be nurtured within an optometric practice.

Plan as you might, unforeseen events occur. How prepared are you for a sudden downturn, a poor health episode, or a weather-related catastrophe? Assess the preparedness of your practice to deal with such events, then take steps to put contingencies in place.

Three essential financial statements must be tracked and analyzed in order to make informed, data-based decisions to manage an optometric practice and keep you on track with your growth goals. Statements can be generated from financial software you may have in place, and this automates the process and accelerates your management abilities. Together, these three statements provide a portrait of the financial wellness of your practice and are critical in practice valuation and investment financing.

“Smart Money” is an ongoing podcast series sponsored by CareCredit and created by Review of Optometric Business, an online business-building publication. Here, ROB Professional Editor Mark Wright, OD, FCOVD, shows ECPs how offering patient financing can improve outcomes for patients and practices. The first installments in this series provide success strategies to improve KPIs, increase capture rate and increase multiple eyewear sales with patient financing.

“Smart Money” is an ongoing podcast series sponsored by CareCredit and created by Review of Optometric Business, an online business-building publication. Here, ROB Professional Editor Mark Wright, OD, FCOVD, shows ECPs how offering patient financing can improve outcomes for patients and practices. The first installments in this series provide success strategies to improve KPIs, increase capture rate and increase multiple eyewear sales with patient financing.

“Smart Money” is an ongoing podcast series sponsored by CareCredit and created by Review of Optometric Business, an online business-building publication. In this podcast, listeners will learn to track KPIs, measure to manage, increase capture rate 10 percent, generate $70,000 more in revenues, and present patient financing to benefit patients and practice.

Net cash flow is the most critical metric in practice management and practice valuation. Here are keys to maintaining a positive cash flow that allows you to manage comfortably, expand services and sales, and readily borrow to make improvements. .

Creating a practice budget and reviewing it every 1-3 months allows you to accurately set earning goals and manage expenses. Adhering to a budget enables you to make data-based decisions on investing in your practice to enhance patient care and increase profitability. Also, a practice that runs by a budget has a higher valuation to potential buyers. Michael Kling, OD, founder and CEO of Impact Leadership, shares his insights, and provides templates to help you get started.

Practice owners who learn to delegate and function like CEOs can realize gains in patient care and business growth. Michael Kling, OD, founder and CEO of Impact Leadership, shares his insights on becoming the CEO of his practice.