20/20 Money Episode #193-How one practice owner eliminated vision plans from their practice (and increased profitability) with Dr. Kyle King

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Kyle King. Kyle is a partner at Evansville Eyecare Associates in Evansville, IN and is a 2011 grad of IU School of Optometry (I know this because he graduated with my wife). Kyle joins the show today to talk about a journey and transition that I feel a lot of practice owners have thoughts about in the past, and that was his and his partner’s decision to become out-of-network for all vision plans and effectively be a fee-for-service practice. Kyle talks about the tipping point that essentially forced the practice to make this decision, the patient communication strategy that they implemented to ensure that patients weren’t surprised about the change, a few lessons learned, as well as the various benefits they’ve seen after having made the switch.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.

And with that introduction, I hope you enjoy my conversation with Kyle King.

Resources:

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Tim Ferriss’s Fear Setting TED Talk

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