Managed care plans continue to gain ground impacting the way optometric practices do business. Although managed care plans often increase the number of patients through the door, they can be confusing and restrictive.
When choosing to accept a managed care plan, always do your homework. What are the reimbursement rates, can I make lenses on my Q-2100, can I use my lab of choice, how do they impact my second pair sales…are all questions that must be evaluated before you make your acceptance decision. Many times reimbursement rates may not be sufficient to truly cover your time and services. If the insurance plan requires that you use a specific lab, service time and turnaround may be negatively effected, impacting your practice reputation. Second pair fees have typically been a way to generate additional revenue with managed care clients, make sure the new plans don’t impact the pricing structure you have in place. You must really understand the pros and cons before signing up.
It is also important that you evaluate your existing plans with the same criteria. Once your numbers are verified, you should consider dropping those that net the lowest. Focus on seeing patients from the most profitable plans available. Concentrate on providing excellent patient education on the plans they participate in and make sure that have all the details before the exam. Treat them well and then try to up sell to options beyond the plan to provide exemplary care and vision.
Focus on the 2nd pair option when dealing with managed care patients. With your Q-2100 digital lens system you are perfectly positioned to truly capture and make accessible to your patients the 2nd pair choice. Utilize your in office capability to competitively price the additional pair as an affordable and desirable option. Whether a pair of photochromics, sunwear or a spare pair, you can meet their needs and profit from managed care plan acceptance.
Posted on 4/7/2014 at 8:00:00 PM