In business, we need to ensure we are profitable. To do this, we need to understand every piece of the puzzle to make sure we continue doing the best we can, for our patients and for our practice. Remember patient first, always. However, we want to be smart and we want to ensure that we do not lose money while providing 5 STAR care for our patients.
So let’s look at the impact of chair cost with a vision exam.
Let’s take the chair cost we calculated earlier for example; our chair cost is $120.00 per patient, and remember this amount is before paying our doctors salaries and capital expenses or loans.
Our chair cost per patient is $120, and we know that an average vision plan reimburses anywhere from $40 to $60 per exam.
We just made $40 for an exam. Now, we still need to make $80 just to cover our expenses.
How are we going to make the additional money to cover our chair cost?
Taking quality care of our patient’s visual performance through medical care, glasses, contacts, and nutraceuticals, while enhancing your patient’s experience, will help us to cover our chair costs. However, what happens when we don’t optimize our patient’s visual performance or bring them back for the follow-up care that they need based on clinical care guidelines for your state?
Well, We are failing our patients. We lose money. And to make up the difference, we need to see more patients, do more special testing or sell more product, when we had the opportunity to take quality care of each patient’s needs from the very beginning.