COMPILED HERE are selected tips from this, Optometric Management’s Medical Service issue. Let us know what you think of this feature via email, Facebook or Twitter.

• COMPOSE/ORGANIZE THREE YEARS OF SOLID DATA

Three years prior to sale, gather data, which should include at least the following: tax returns; income statements with detailed categories (such as HR, COGS, equipment, overhead, marketing and occupancy); list of tangible assets (such as furniture and equipment); managed care contract copies, cash collection by payer (YTD and previous year), procedure productivity report by CPT code, list of current practice liabilities; and a spreadsheet, or chronological listing of the previous five to seven years of revenue, expenses and profit. (Maximize Your Practice’s Price Tag)

• CREATE A DEBT REDUCTION PLAN

I recommend following the steps for debt reduction outlined by financial coach Dave Ramsey: Be aware of the debt you are carrying and the implications for the bottom line through the life of the loans. (Manage Your Finances to Reach Your End Goal)

• MAXIMIZE THE QUALITY WEIGHTED CATEGORY

To obtain the highest possible score in the MIPS Quality category, report at least six of the 275 available quality measures. Attempt to report quality measures that you encounter at least 20 times and that you have met at least 60% of the time during the reporting period. Of these six quality measures, at least one should be an outcome measure (if no outcome measure is available, you may replace it with a high-priority measure). . . . . (Making Sense of MACRA)

• ORGANIZE YOUR PATIENT SCHEDULE

Initially, glaucoma exams may need to be made between comprehensive exams. One way to setup the schedule is to have 10-minute time slots through the course of a day. A comprehensive exam will likely take longer than a medical exam. This means two 10-minute time slots should be allocated for a comprehensive exam, and a medical exam/glaucoma exam will take up one 10-minute slot. In one hour, you could perform two vision exams and one medical exam/glaucoma exam. (Glaucoma)

• USE TECHNOLOGY TO FIT

In scleral lens patients, gather data to create a solid view of the case from outside to inside the corneal structure to aid you in fitting the lenses. Specifically, topography, pachymetry, anterior segment photography and AS-OCT.
(Contact Lens)

• FOLLOW BRAND TRENDS

We began evaluating options for color scheme and modifications for a new logo. We chose Greenery, the 2017 Pantone color of the year. (Pantone is a color authority among fashion and design industries.) We also added graphics, in keeping with branding trends.
(Optical)

• AVOID FAILURE TO THRIVE

My point here is simple: We are headed for 2037 at breakneck speed. Our current mode of practice — clinically, administratively and business wise — is challenged and “broken” nearly daily. We can certainly keep doing things the same way — I don’t think we’ll become extinct in the near term — but, it’s doubtful we’ll thrive.
(Business Strategies)

• WEIGH THE RAMIFICATIONS OF MACRA PARTICIPATION

Exemption is the path of least resistance, and with revised low-volume rules, it’s my experience that many will choose to do that. The larger question is: Do I want to be invisible within the health care quality reporting system?
(Coding Strategy)

• CONSIDER EMPLOYEE WANTS

The holidays are a good time to show employee appreciation through holiday gifts. But what? A majority of employees would choose cash, followed by a pay raise and finally, time off that is not vacation, according to a Glassdoor survey.
(Personnel Pointers) OM