Practice Advantage

The Power of Evaluating Vision Plans

Episode Summary

In this episode, Dr. Manning sits down with the Jeremy Bluvol, CEO of Anagram to discuss the importance and power of evaluating whether or not a vision plan is working.

Episode Notes

In this episode, Dr. Manning and Jeremy Bluvol, CEO of Anagram, discuss the importance of and how to evaluate the vision plans you accept in your office. Not all vision plans are created equal 

Takeaways:

1. Review your P&L to understand your overhead, fixed, and variable expenses. Leverage those numbers to understand how much revenue your practice needs to generate per hour, per day, and/or per patient to generate a profit. 
2. Pull reports from your PM system to understand the average revenue per patient for each plan that you take. What's your current breakdown of insurance utilization? What insurances generate the highest revenue per patient? Are there insurances that don't generate enough revenue per patient to cover your costs of doing business?
3. Make the decision to drop plans that are losing you money. 
4. Get creative with businesses in the area to attract more patients out of network so you can continue to see the patients that you serve while making your business more profitable. 

Books Jeremy is reading:

Breathe by James Nestor

Extreme Ownership by Jocko Willink

Infinite Jest by David Foster Wallace