Why do we do what we do? Is there a way to do it better? If you haven’t asked yourself these questions recently, your practice is likely leaving a LOT of profitability, efficiency, room for competitors on the table. Dr. Darryl Glover and Dr. Adam Ramsey sit down with Perry Brill of the Eyetrepreneur Podcast on this episode. Brill is the practice manager at Brill Eye Center in Mission, Kansas and the founder of EyeRockIt, a consulting service for optometrists that specializes in practice efficiency to increase productivity and profitability. 

So how can you amplify your practice assets? 

1. Crush Eyewear Sales

“If you don’t hear some patients push back about price, you are charging to little,” Brill shares. To make your optical more profitable, focus on the patient experience. Brill is a big believer that you must slow the patient experience down when it comes to optical – get them seated and get them comfortable. Don’t have people wandering the frame board; your optician is the expert and they should guide and explain the why of their recommendations with every frame tried on, and every lens option prescribed. 

Dr. Ramsey shares that fulfilling the needs of your patients is key to his practice success. He starts exam with asking the patient about any vision issues. At the end of the exam he prescribes the solution for each of the patient’s complaints. He doesn’t sell glasses – he matches his patient’s needs with the technology that is designed to address the issue. “All of the optometrists that are successful prescribe from the chair,” Dr. Glover agrees. 

2. Crush Patient Collections

Collect upfront as much as possible and if any medical billing comes back, don’t be known as a business that is going to waive charges. Dr. Ramsey shares that his office requires 100% payment before glasses orders are placed, but medical payments can be harder to collect up front because sometimes insurances kick more back to the patient than expected. Brill educates that doctors need to prepare before a patient’s exam to know if their visit is subject to deductible or high coinsurance. Call the patient at least a day before their appointment and educate them about expected charges because they have an unmet deductible so they are prepared to pay in full at the time of their exam. Some practitioners will avoid scheduling Medicare patients in the first quarter so that by the time they have their eye exams, their deductibles are more likely to have been met. 

3. Lower All Costs of Goods and Services

Dr. Ramsey is known as a negotiator for his practice, and he encourages all doctors to make sure they negotiate with vendors to get a fair price! Private practitioners are at a disadvantage compared to large corporate groups because they have less patients, but vendors who prioritize independent optometry should be willing to put their money where their mouth is to make sure they are giving private practitioners a fair deal. Brill shares that independent ODs can negotiate better by:

* Teaming up. Do you and a fellow OD want the same piece of equipment? Approach the vendor together and ask for a reduced rate to get the business for both of your practices. Any items $10,000 or above you can get major discounts using this group purchasing approach, Dr. Ramsey shares. 

* Ask for the Doctor Alliance Rate.