The Profitable & Stress-Free Eye Doctor. Dr. Connie Vuong
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on the tasks just described, it’s difficult to justify that time as being worthwhile. In order to have more time available to focus on the niche of Ortho-K therapy, insurance companies needed to be eliminated one by one.
Once you have reduced the time you spend on insurance-based patients, you will have plenty of time to focus on increasing your profitability. I started to make a list of all the insurance companies that we accept in our practice. Then, I started to list them in order of the most income it generated to the insurance companies that provide the least payment. As you have guessed already, VSP (Vision Service Plan) was our main bread-and-butter income. It provided the biggest check; 80 percent of all our earning came from VSP payments. We received only about 2-5 percent from Spectera Vision and about 10-15 percent from Davis Vision. After reviewing the statistics, I started to eliminate the insurances that reimburse the least (Spectera). Next, I cut insurance (Davis Vision) that had too many criteria. With Davis Vision, a patient has to choose frames from Davis Vision’s frame selection and all the eyeglasses’ edging jobs had to be sent to them only.
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