BUSINESS

  business strategies

The Ever-Changing Same

Outside forces have no influence on these four practice-building steps

GARY GERBER, O.D.

I saw my last patient exactly 10 years ago today. I decided then to devote all my time to the Power Practice, which was already nine years old. Looking back on the day I last practiced, and nine years before that when I started as a consultant, I hereby submit to you what’s changed on the practice management front: nothing.

Sure, 10 years ago no one was talking about meaningful use, HIPAA was a technicality to be aware of, not lived in fear of, the Internet wasn’t as big a part of our practices as it is now, and reimbursements from insurance companies were, for the most part, higher than today. But, none of these changes have influenced the philosophies and strategies of building a thriving practice.

What’s different 10 years later are the challenges being thrown at us on a seemingly daily basis. Like the rudiments of playing the piano, be it Bach or progressive rock, the fundamentals remain the same, the song is just different.

Here, then, is a review of the steps we, as optometrists, must follow to build a great practice.

1 Define the practice culture

Succinctly and genuinely identify your practice’s mission, values and culture, and stick to them. Whether you want to be the low-price leader, the high-end eyeglass boutique or the “go to” place for pediatric care, stick to your guns. Don’t waver or change your focus due to distractions.

The tactics you deploy to maintain your practice culture will probably change, but your core business philosophy should be constant. Pay attention to your competition, but don’t let what they do or don’t do derail you.

2 Hire great people

Ten years ago, you couldn’t thrive without a great support team. That’s still the case. Hire great people who have awesome matching personalities for their particular job, and train them properly.

But personality alone won’t cut it. You have to be willing to mentor and train to get the desired results. If you do all that and certain staff members still aren’t performing, replace them. Don’t settle for mediocre employees.

3 Stay up to date

Back in 2004, that meant having a practice website. Today, that means having a meaningful, fluid and viable social media strategy and being on the cutting edge of whatever clinical discipline excites you.

4 Don’t go it alone

With all that’s going on around you, it’s crazy to think you’re going to succeed as a doctor, IT person, HIPAA compliance expert, social media wiz and CEO. There are lots of sources for help. Talk to colleagues, read journals, or use your favorite search engine. The best athletes in the world use coaches. You should, too.

The next 10 years

What can you expect going forward for the next decade? External forces will turn up the heat and force you to continually stay on your game.

Specifically, online examinations, a more robust Internet optical experience for patients, additional optometry schools, more doctors and more regulations will attempt to get between you and your patients.

How should you deal with all that? Other than reading the four items outlined in this column and actually using them, nothing. OM

DR. GERBER IS THE PRESIDENT OF THE POWER PRACTICE, A COMPANY SPECIALIZING IN MAKING OPTOMETRISTS MORE PROFITABLE. LEARN MORE AT WWW.POWERPRACTICE.COM, OR CALL DR. GERBER AT (888) 356-4447.