As optometrists, we manage a variety of ocular diseases, binocular disorders, and refractive errors on a daily basis. The business component of practice, to which we are rarely exposed in our training, is arguably the most important, yet challenging, aspect of being a practice owner. There are so many moving parts that change weekly, monthly, and yearly. Fee schedules for reimbursement are one such moving part, often leading optometrists to make changes in workflow to accommodate decreases and/or increases in reimbursement rates. In response, some decide to hire optometric practice consultants to make sure we are not over billing or under billing and are using staff and equipment in the most efficient fashion.
New technology to make our practices more efficient and the workflow easier is constantly entering the marketplace. Deciding what types of technology to invest in to provide excellent patient care can be daunting. It is impossible to have it all, but it is important to have enough to help us make the best clinical decisions for the many ocular conditions we encounter.
In this issue of Modern Optometry, our cover focus is on all things business. We hope that the articles herein help reinforce the knowledge you already have, but also make some positive changes in your practice. As the title of this publication states, we truly believe that to be successful in today’s world of eye care, optometrists need to adopt at least a portion of the “medical model.” Robert Chu, OD, shares some insights in his article, “Why the Medical Model Makes Good Financial Sense”, making it a perfect fit for this issue and the core beliefs of Modern Optometry.
Although the medical model indeed makes a lot of financial sense, you also need a well-trained staff to properly implement it in your practice. Joseph Allen, OD, FAAO, Dipl ABO, offers ideas for creating excellent staff education videos in his article, “Want to Train Your Staff More Efficiently?”. Once you have decided to adopt the medical model, train your staff, equip your practice with the latest technology, and book your first patients, it doesn’t end there. Mastering the nuances of coding and billing is crucial—otherwise, you may not be able to reap the rewards of all the hard work you’ve done on the front end. Our co-Chief Medical Editor, Walter O. Whitley, OD, MBA, FAAO, and his colleagues, Thomas Cheezum, OD, CPC, and Rachael Wruble, OD, FAAO, provide their top tips to make sure you get paid after the work has been done.
Like the ever-changing landscape of the business of optometry, other facets of the profession are also advancing rapidly. For our subfocus this issue, we offer several intriguing articles that seek to predict optometry’s future trends, including “The Evolving Role of Laser in Eye Care,” by Nate Lighthizer, OD, FAAO, and Aaron McNulty, OD, FAAO, and a pharmaceutical update from Jen Wademan, OD, in “Drops, Drops, Drops!” In their article, “How to Coexist With Industry Disruptors,” Miriam Korik, OD, and Justin Bazan, OD, offer some ideas to learn from industry advances in teleoptometry and share their own adventures in rethinking their practice models. We hope you’ll find some inspiration for your own practice within these pages. After all, to make wise business decisions, it helps to know where our profession is headed next.
We thank you for your support of Modern Optometry and hope you enjoy this issue. If you have questions, thoughts, or ideas, as always, please reach out to us at editors@bmctoday.com.
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