In this episode of the IDOC Focal Point Podcast, Consultants Dr. Steve Vargo and Amy Alvarez connect with members Dr. Todd Cohan and Erin DePhillippo to discuss HR Now - the new HR benefit that provides on-demand HR Support for your practice.  Learn more about how HR Now is the benefit you need to cure the complications that arise with HR management in your practice.

Introducing IDOC HR Now

Change in the eyecare industry is nothing new, but the past few years have seen more change than normal. Having a solid understanding of your practice financials is important to help you navigate changes and strategize for the road ahead. 

IDOC’s Associate Director of Financial Services, Nathan Hayes, shines a light on what metrics are most important and how to use those metrics in your business planning and decision-making. We also discuss IDOC’s Books and Benchmarks service that takes the burden of bookkeeping off your plate… and makes sure it’s done right!

Eye Own a Business Episode 11 - Rethinking Practice Metrics: Do the Old Rules Still Apply?

For years we’ve been hearing, “It’s hard to find good employees.” Over the past few years that’s become, “It’s hard to find ANY employees!”  

A few years ago, virtual assistants in eye care were unheard of. Today many practices are testing the waters with this concept. Dr. Adam Ramsey is one of those innovative ODs. In this episode, he shares his experience working with a virtual assistant. He discusses how he uses the assistant, his approach to training a virtual staff member, the reaction from both staff and patients, and much more! If you’re on the fence about virtual staff, this episode may convince you to give it a try!

Eye Own a Business Episode 23: Can’t Find Staff? Try Using a Virtual Assistant

Is it possible to set up your optical so most of the selling is done for you without having to speak to the patient? Where you get the patient 80% of the way there and then you close the last 20%  

When the patient walks into your optical, there are a lot of factors that can encourage or discourage a sale. Many of these operate on a subconscious level. Things like the number of decisions the consumer is forced to make, where frames are placed relative to eye level, and even the cleanliness of the frames can impact sales.  

In this episode with Susan Daly, Director of Optical Strategy and Development for IDOC, we cover 10 tips for boosting sales and several of these tips challenge conventional thinking.

Eye Own a Business Episode 27: Structure Your Optical so the Selling is Done for You

When physicians contemplate HIPAA compliance and the safeguarding of patients' protected health information (PHI), their primary focus typically centers on internal aspects. Questions such as, "Do our practice's written policies align with HIPAA requirements? Have we adequately trained our employees on HIPAA regulations? Is our computer infrastructure and software adequately secure?" often dominate their concerns. However, one crucial aspect that often goes unaddressed is whether the vendors who have access to our patients' PHI are also diligently taking steps to ensure the protection of this sensitive information. 

In this episode, we engage in a discussion with Christine Schneider, Vice President of Operations, and Jon Kettner, who oversees HIPAA compliance at RevCycle Partners. They provide insights into the comprehensive process RevCycle Partners follows to achieve HIPAA compliance and offer guidance on the essential inquiries you should be making of your vendors to fortify your defenses against potential data breaches.

Eye Own a Business Episode 35: Are My Vendors HIPAA Complaint? Here’s What to Ask

Unforgettable Patient Care: Influence Outcomes by Making a Lasting Impression 

In this enlightening podcast episode with Dr. Carmen Simon, the renowned author of "Impossible to Ignore: Creating Memorable Content to Influence Decisions," we delve into the fascinating world of memory and message retention.  

Would it surprise you to know that people typically only remember about 10% of the messages they encounter, and most of this information is forgotten within the first 24 hours? Memory challenge not only affects what people remember, but also what they act on. 

As healthcare professionals, what if you could take charge of what patients remember and wield the power to shape their choices? Dr. Simon unveils the keys to controlling that pivotal 10% of information people retain. Without deliberate efforts, what sticks in their memory tends to be random and unpredictable. 

In this episode, Dr. Simon walks us through concepts such as deliberate messaging, cognitive ease, and pattern recognition. Understanding these concepts helps you better position your messaging to be remembered and acted upon. 

This podcast episode promises to reshape your approach to patient care by tapping into the enigmatic world of memory. Are you ready to become an unforgettable force in the eyes of your patients? Tune in to find out.

Eye Own a Business Episode 36: Unforgettable Patient Care

In this podcast, Nathan Hayes, IDOC’s Director of Financial Services, 
highlights the essential factors involved in determining the value of a practice, including revenue, profitability, market conditions, and competition. The role of financial statements and historical performance metrics, such as EBITDA, is emphasized as critical tools in the valuation process. 

The conversation also explores the challenge of quantifying intangible assets like goodwill, reputation, and relationships, shedding light on their impact on a practice's overall value. The interview addresses whether formal valuations are necessary for all practices and how the presence of private equity has transformed the landscape of healthcare practice valuation and acquisition. 

Our discussion uncovers common mistakes and misconceptions held by practice owners about business valuation, helping them navigate the process more effectively. For potential sellers with exit plans, valuable insights are shared regarding benchmarks and strategies to boost their practice's value. Likewise, potential buyers receive guidance on avoiding overpayment, ensuring informed decisions when considering acquisitions.

Eye Own a Business Episode 37: What's My Practice Worth?

Are you struggling to make specialty care a meaningful part of your practice? Maybe you’re trying to solve a medical problem when you should be trying to solve a marketing problem. 

For many ODs, time is the biggest culprit when it comes to growing a specialty service. Doctors are trying to cram medical conversations into comp exams and failing to get the patient’s buy-in. In this episode with Bob Miglani, founder of Hoot, we explore some of the most common reasons for this and how Hoot provides a solution to these problems. 

Find out more at Gethoot.com

Eye Own a Business Episode 38-Specialty Care: Solving the Marketing Problem

Approximately 50 percent of doctors are experiencing professional burnout. In this episode we explore the most common reasons for this and what you can do to overcome it. While much of the attention for reducing physician burnout has been focused on getting away from patient care, also called escapism, this isn’t a realistic option for all doctors and it’s also not always the most effective option. A more sustainable approach is not getting away from patient care, but rather changing how we provide patient care. The focus of this episode is on shifting from a transactional model back to a relational model. A more personalized approach to patient care combined with a greater sense of accomplishment can help restore the joy and satisfaction in the profession of eye care.

Eye Own a Business Episode 39: Transforming Patient Care to Overcome Burnout

One of the biggest checks you write is to your lab, yet many practices seem to tolerate a lot of bad service from the labs they partner with. Dr. Barton Higley is one doctor who had enough, ultimately partnering with an independent lab out of Pittsburgh called Three Rivers Optical. 

In this episode Dr. Higley describes his struggles with the labs he used prior. Poor customer service, poor quality, and inexperienced reps led him to pursue alternatives. Based on prior experience he was understandably skeptical, but he explains how Three Rivers Optical surpassed all his expectations. 

Dr. Higley asked himself an important question, “Does their business model align with our practice model?” After partnering this Three Rivers his question was answered. They did! Does YOUR lab align with YOUR practice model?  

Find out more: https://3riversoptical.com/ 

Link to meet with Dr. Higley: https://go.oncehub.com/HigleyThreeRiversPeerConsulting

Eye Own a Business Episode 40: Fed Up with Your Lab? Make a Switch!

The best practices are NOT constantly trying to motivate people, they just have better systems in place, and they manage the systems. That's much easier than constantly managing (and motivating) people. 

Do you agree or disagree with the above? In this episode, I take on the interviewee role as Erich Mattei, President of Akrinos, interviews me on this topic for his podcast. We attempt to answer the question, “Which is more effective when it comes to managing employees, motivation or systems?”

Eye Own a Business Episode 41: Creating Motivational Systems in Your Practice

In this episode, Stanford lecturer Matt Abrahams shares valuable insights about listening and communication from his book, Think Faster, Talk Smarter: How to Speak Successfully When You’re Put on the Spot  

Doctors are tasked with solving problems for their patients, but as Matt points out, it’s not hard to solve problems, it’s hard to find the right problems to solve.  

In this interview, we focus on asking better questions and sharpening our listening skills. Matt says that questions get the other person more invested in the problem itself and the desire to solve it. “When it comes to communication, we over index on the speaking part and we need to balance that out with the listening part,” he says. When it comes to establishing connections, building trust, and uncovering problems (all vital to patient care), we need to do more listening than talking.

Eye Own a Business Episode 42: Stop Talking So Much! Listening is the Key to Better Outcomes

In this episode, Dr. Aaron Neufeld shares his strategies for leveraging referrals from other doctors to grow his practice.  

When it comes to marketing your practice, many ODs think of traditional marketing strategies such as social media, online or print marketing, and having a great website. These are all important to grow a practice, but in this technological world we often marginalize face to face marketing. 

In this interview, we focus on Dr. Neufeld’s strategies for securing more referrals, what to expect when you begin this process, which doctors to target, how to sustain a very productive relationship, and how to overcome some of the obstacles you will likely face.

Eye Own a Business Episode 43: Get More Patient Referrals from Local Physicians

In this episode, we explore the key elements of a successful staff meeting that leaves a lasting impact. The planning phase takes center stage, emphasizing the importance of identifying the need, purpose, and intention of the meeting. The episode highlights the perpetual nature of issues to address and emphasizes the value of delivering a clear and focused message, recognizing that less is more when it comes to information absorption. 

Collaboration is introduced as a powerful tool during staff meetings, illustrating how discussions among attendees can enhance information retention. The "So what?" test is discussed as a practical tool for filtering information, ensuring that only essential and impactful content is included in meetings. Authenticity in delivery is emphasized, covering gestures, tone, and conviction. Tune in to discover actionable insights for transforming your staff meetings into engaging and effective sessions. 

More about Erin at https://erinmomalley.com/

Eye Own a Business Episode 44: From Mundane to Meaningful: A Blueprint for Productive Staff Meetings

In this episode, Dr. Mike Neal shares how he transformed his practice by removing many of the obstacles that prevent practice owners from building a great team.  

A few things we discuss are taking emotion out of the interview process, the importance of focusing on talents and strengths rather than just experience, what we can learn from companies like Disney to ensure better hires, and how to get clear on which applicants to reject and which to call in for an interview. 

If you're ready to change the game and set yourself up for hiring success, you’ll love this episode! 

Dr. Mike Neal is the owner and CEO of Build My Team. Learn more about his company here: https://www.buildmyteam.com/

Eye Own a Business Episode 45- Hiring for Success: A Systematic Approach to Building Your Team

In this episode, Sharon Carter shares her strategies for getting “unstuck” and taking your practice to the next level.  

We cover a lot of reasons practices fail to reach their full potential and how to put strategies in place to maintain growth. Spoiler alert! You can’t do this alone. After a certain point, designating a leadership team is necessary. However, those efforts can be sabotaged by putting the wrong people in these roles. It’s also possible that you have the right people with the right attributes, but your approach to promotion and development sets them up for failure. 

What’s the best way to track success? Numbers! In Sharon’s words, “The numbers don’t lie.” In this interview we cover the importance of KPI’s (key performance indicators), which KPI’s to track, and how to hold employees accountable for outcomes. 

Sharon is the owner of ECOC Optometric Consulting. Learn more about her company here: https://ecoc.biz/

Eye Own a Business Episode 46: Take Your Practice to the Next Level

In this episode, Selin Olmsted (founder of Selin Olmsted Studio) shares her expertise on a topic many ODs marginalize. Eyewear fashion and design! 

A few things we discuss are insights on the latest eyewear trends, factors to consider when selecting frames, options for implementing private label, and adapting to future trends. 

Doctors know a lot about the clinical side of eye care. Patients want great vision and healthy eyes, but don’t neglect something that is also very important to your patients… Looking good! 

More about Selin and her company https://www.selinolmsted.com/

Eye Own a Business Episode 47: Current Trends in Eyewear Fashion and Design

Resistance to a sale is often countered with additional patient education, assuming that more information will lower the barrier to a sale. In reality, many of our purchase decisions are not driven by what we KNOW about something, they’re driven by what we FEEL about something.  

Fear, excitement, anticipation, trust, safety, confusion, curiosity, and certainty are some examples of emotions that influence our purchase decisions. Research shows the overwhelming majority of our decisions are primarily driven by emotions, not logic. 

In this episode we explore some of the not so obvious reasons people resist making a purchase, along with strategies to counter these situations.

Eye Own a Business Episode 48: 3 Surprising Reasons Patients Don’t Buy from You

Managing billing operations has historically been one of the most challenging tasks of practice ownership. In this episode we explore the reasons for this, how practices are handling (or not handling) these challenges, and the evolving role of technology in billing. One of the more exciting platforms to hit the market is OneSpot, a centralized digital hub to streamline billing processes. OneSpot is productivity software for your insurance biller. The tool helps billers organize, manage, track, and resolve outstanding insurance claims. OneSpot also gives eyecare practice owners and managers visibility into their insurance billing operations, something that the PMS/EHR has not been able to do. Tune in to gain insights into the future of billing and the role OneSpot plays in shaping it.

Eye Own a Business Episode 49: Reimagining Your Insurance Billing Operations

Technology will continue to disrupt the eye care profession. This poses both opportunities and threats for ECPs. In this episode with Travis Beaven, Alcon’s Global Vice President of Vision Care Digital Health, we discuss the role technology will play in the future of eye care. 

A few things we discuss are which technologies will have the greatest impact on the eye care profession, artificial intelligence, adapting to change, privacy issues, and much more!   

While change and disruption can be unsettling, it also opens the door for innovation and new opportunities that improve the experience for both provider and patient.

Eye Own a Business Episode 50-Disruption: Technology and the Future of Eye Care

Behind the Benchmarks: Insights for Managing Overhead and Profitability
Nathan Hayes, the director of financial services at IDOC, discusses the importance of comparing practice financials to other practices. He explains how Books & Benchmarks service can provide accurate and reliable data to help practice owners make informed decisions about their business. 

Download the report here: https://bit.ly/44HRX0V
Learn more about Books & Benchmarks: https://booksandbenchmarks.com/

Eye Own a Business Episode 51-Behind the Benchmarks

Join IDOC Practice Management Consultant, Dr. Steve Vargo, and Bill Gerber, founder, and CEO of OMG! Optical Marketing Group and Contentlinq as they discuss numerous topics related to Optical selling within the practice.

Podcast Dr. Steve Vargo And Bill Gerber Audio

Join IDOC Practice Management Consultant, Dr. Steve Vargo, and IDOC HR Consultant, Amy Alvarez as they answer questions from submitted by members in regards to COVID-19.

Answering HR Questions Related To COVID - 19

IDOC's Connection 2020 is rapidly approaching. Check-in here to get the latest on what to expect in Orlando this coming February.

IDOC Connection 2020

IDOC Practice Management Consultant Dr. Steve Vargo and IDOC Optical Management Consultant Ximara Vega discuss Optical selling strategy and how to influence patient behavior.

Optical Selling Influencing Patient Behavior

Dr. Steve Vargo, IDOC Practice Management Consultant tackles misconceptions in the marketplace, as well as what questions to ask yourself when preparing to bring on an associate OD.

Where Are All The Associate ODs

IDOC Practice Management Consultant Dr. Steve Vargo talks about your practice future and the IDOC 3 year growth plan.

Let’s Get Clear About Your Future

IDOC CEO Dave Brown reflects on the optical industry.

IDOC CEO Dave Brown Interview

Join IDOC Optical Management Consultant, Pat Basile as she discusses key staff members that contribute to the success of the Practice.

Pat Basile's Keys To Practice Excellence 3 Key Staff Members

Why do you need to take a vacation? This may be the most welcome advice you've had in a while! There are 3 boxes you have to check. Listen to IDOC's Financial Consultant, Nathan Hayes, to learn more.

Hey, Practice Owners You Need A Vacation!

Join IDOC Practice Management Consultant, Dr. Steve Vargo as he provides guidance on common interview mistakes and how to avoid making them.

Top 5 Interview Mistakes

Join IDOC Practice Finance Consultant, Nathan Hayes, as he offers guidance on the recruitment, compensation, and managing of associate ODs in your practice.

Hiring Associate ODs post-COVID-19

IDOC Practice Management Consultant, Dr. Steve Vargo, is joined by special guest, Kristen Hadeed, Founder of Student Maid and author of the well-received book on leadership: Permission to Screw Up.  Listen to this edition of the Focal Point podcast and learn from two highly regarded, published authors on why it's OK to make mistakes, admit to them, and learn from the experience.

Becoming an Effective Leader with Special Guest, Kristen Hadeed

Join Dr. Steve Vargo as he interviews Matt DiBlasi, president of Abyde, regarding the new FTC ruling around contact lenses.

Dr. Steve Vargo interviews Matt DiBlasi on new FTC Ruling

Join Dr. Steve Vargo talks OD fatigue with Dr. Saundra Dalton-Smith.  Dr. Saundra Dalton-Smith was the keynote speaker at IDOC annual conference, Connection.

Dr. Steve Vargo discussed OD fatigue with Dr. Saundra Dalton-Smith

At IDOC, we talk with experts in optometry and business to empower independent optometry practices owners to create the practice of their dreams.

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