Optical Dispensing: Common Ways Your Practice Is Losing Money

Posted by Vinnie Rawat on Tue, Mar 04, 2014 @ 11:03 AM

When you have been working at your practice for so many years and can't remember the last time you shook things up, you could find yourself stuck in a rut. That's why you need to be up to date with the latest technologies and policies being implemented in the industry. Constantly comparing yourself to other practices and being aware of what's in the loop can keep you from having a low cash flow, or worse, losing profit. We've come up with some of the most common optical dispensing mistakes your practice might be making that could be costing you money.

Optical Dispensing Decisions that Could Hurt Your Profit

optical dispensing

Not Utilizing Online Ordering: You probably don't even realize all of that ways that online ordering can benefit your practice and help save you some money. Our online ordering tool is completely free for you and your staff to use. (Labs love receiving orders through us so much that they flip the bill!) One of the many benefits of our ordering service is that you'll receive your completed orders 1-2 days faster than you would with phone or fax orders. And, orders received quicker are going to make your patients more satisfied. You'll also be able to track all of your orders online, which will free you up from spending time on the phone tracking orders. Another option for submitting your orders with our ordering tool is by submitting them directly from your integrated practice management system. Just another way we save you time, and you know what they say...time is money! 

Submitting Insurance Old School: Employing a biller who still surfs the web and visits each insurance company's website to submit claims might be the highest level of inefficiency in a practice. Like we said earlier, time is money, and while it may seem like your biller is spending a couple minutes here and there visiting different sites or sending claims via phone or fax, those minutes eventually add up to hours. Think about all of the patients you could have seen if you did not have to worry about human error from mail and fax claims, and all the paper expenditure you could be saving by adopting an electronic claim processing system. By using an online claims management solution, your biller can easily access all of your payers from one convenient website. On top of visiting just one site you'll be able to track your claims online and have access to real-time reporting and analytics!

Procrastinating the Move to ICD-10: With the transition to ICD-10 codes electronic claim filingtaking the healthcare industry by storm, many practices have already started to get their coding teams up to date with the latest electronic claim filing training. On October 1, 2014, practices covered by HIPAA will have to be compliant with ICD-10 used to report medical diagnosis and in-patient procedures. The longer you wait, the more behind you and your staff will be on how to use this new system of codes. On top of that, getting used to a big transition takes a while to get used to, and could affect your daily workflow. So stop procrastinating and establish an implementation plan!

Having a Demotivated Staff: Ok, so your processes are as efficient as can be, but your staff isn't so passionate about giving the best customer service. So what? Well for starters, your patients might be bad mouthing your practice just becuase they had a bad experience with a staff member. This negative comment is now passed around from one person to another, and has eventually landed online (remember, most people tell 5 people if they have a bad experience, and only 1 if they have a good one). As little as one negative comment can drive your existing patients away, or put your booming business on hold. Having a motivated staff willing to take in a patient's insight and constructive criticism while offering help can establish credibility for your practice. If you're looking for where to begin on preventing profit loss, having a passionate staff is a great start.

Take our efficiency test and find out if you're making optical dispensing mistakes that coudl be costing you money!

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Tags: Online Ordering, Optical Dispensing

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