few ophthalmology practices review expenses
or use cost benchmarking in a routine, regular
and organized fashion. Instead, the typical
ophthalmic practice waits for a profit crisis
and then cuts costs across the board. This approach
more often actually leads to even less profit,
as the practice continues to spiral downward.
as every physiologic index for a patient has
"normal limits," every line item on your financial
statement can be looked at directly, or through
ratio analysis, to determine the health of your
practice. Examples include revenue per full-time-equivalent
staff member and tech payroll hours per patient
a service business with mostly fixed costs,
enhancing ophthalmic profits is more often achieved
through revenue enhancement than cost containment.
We can teach you the right numbers to watch
each month, how to be a better negotiator, and
what to cut first--with the least amount of
damage--if expenses must drop.