Episode #69
20/20 Money Episode # 69 – How to Think About Vision Plans and Profitability in Your Practice with Drs. Jennifer Stewart & Jeremy Ciano
March 2, 2020
Hello, and welcome to this episode of 20/20 Money! My guests on today’s show are Drs. Jennifer Stewart and Jeremy Ciano.
Longtime listeners will know that both of them have been on the show a number of different times. Their business knowledge and practice insight has helped them each build and run very successful private practices.
On today’s show, we discuss one of the biggest decisions and factors that influence the gross revenue and thus profitability of an optometry practice: vision plans. Jeremy and Jennifer discuss their viewpoint on vision plans, the purpose with how they think about insurance plans, and how they understand the profitability of the plans in each of their respective practice.
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We also discuss how vision plans can be used as a way to “jump start” a practice that is thinking about adding an associate but why it’s still important to make sure that you’re being calculated and measuring the progress and impact of the plans after you add the associate to make sure that it’s still a “win-win-win” for everyone involved in the equation.
And be sure to stick around to the end of the program, where Jeremy and Jen again revisit why it’s so important that you, as both the doctor and business owner, create a process in the practice that allows everyone to understand the different options that are available for patients and why it’s so important for everyone (the doctor, the team, and the patients) to see through the trivial many features of each respective vision plan for the vital few benefits that are going to directly impact the patient.
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, you can also set up a 15min pre-discovery conversation to learn a little bit more about what it means to work with our firm or check out any number of additional free resources like our eBooks and on-demand webinars.
And with that introduction, I hope you enjoy my conversation with Drs. Jeremy Ciano and Jennifer Stewart.
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