Nicholas Despotidis, OD, FAAO, FCOVD

1. Myopia Control Is Now the Time for You? Nicholas Despotidis, OD, FAAO, FCOVD

2. What is Myopia Control? • Orthokeratology • Atropine • Multifocal Soft Lenses • Visual Hygiene

3. A Little About Our Practice Opened cold in 1988 Began myopia control in 1999 On practice: 3 partners We see patients 3 days per week Transitioned from commodity-based to service-based practice

4. Five Full-Time Optometrists Nick Despotidis, OD 1986 Barry Tannen, OD 1982 Ivan Lee, OD 1997 SnehaBagavandoss, OD 2018 Noah Tannen, OD 2016

5. The Past 30 Years:

6. Inflection Point

7. “Healthcare is on the cusp of innovative technologies and disruptive business models that will change the industry.” -Healthcare Finance

9. Luxottica Essilor/Vision Source/EyeMed/LensCrafters

10. SimpleContacts.com

11. HubbleContacts.com

12. Opternative.com

13. The Doctor Will See You Now?

14. 2018

15. Our Office

16. Why CRT? • Myopia does not get better • Primary patients are children • Patients will travel for care • Not covered by insurance

17. Why NOT? • Controversial • Orchestrated fee presentation • Investment of equipment / trial lenses • Learning curve • Not covered by insurance!

18. Why CRT? • Builds a strong pillar • Large barrier to entry • It’s profitable when structured properly • Reduced dependence on insurance • Patient loyalty

19. 1stCRITICAL Point….Just because there is a myopia epidemic … Does not mean patients are interest in prevent!

20. 2ndCRITICAL Point…. 2. If you squeeze patients into your schedule, you’ll fail • CRT is NOT a regular contact lens fitting

21. Today You’ll Learn: • The primary demographic for CRT • How to develop fees • The “secret sauce” for lasting growth

22. Know your demographic? Orthokeratology: Friends and family Specialty contact lenses: Corneal specialists Low Vision: Retinal specialists

23. Lesson 1: Know Your Demographic 1. Overachievers 2. Nervous parents 3. Guilty parents 4. Those who view myopia as a disease.

24. Start with the End in Mind Case: • 10 YO female • Developed myopia age 6 • She’s now -4.50, OU • She is very nervous and sensitive

25. The Consultation 1. One hour 2. Educate prior, during, & after 3. Give snacks 4. Email after the consultation

26. Email After Consult Dear Mr. and Mrs. Jones, It was pleasure to evaluate Teresa.  She will do very well with our program.  I've attached papers based on our discussion. I provided you with a lot of information; please look it over and feel free to email me any questions. Dr. D

27. Parent’s Response: Dear Dr. D, It was nice meeting you during the consultation, thank you for the interesting papers. It seems to me that they clearly show CRT is safe and effective in correcting myopia. However, the conclusion that CRT slows myopia progression is less obvious. Is there any new information ……?

28. Parent’s Response: Dr. D, Thank you for providing all the information. I read that there are 2 FDA approved lenses: “CRT” and  ”VST,” which is better? Thank you in advance for your time!  Mr. Jones

29. NOT THE END, just the beginning… Dear Dr. D: Thank you again for answering all my questions.  The price quoted for Teresa was $ ______ . We weren't expecting it to be that much. Is it negotiable? Can you offer us a lower price? Thank you, Teresa’s dad

30. Calculating Your Fees: Chair Cost?vs. “How much are YOU charging?”

31. Where Most Fail: Gross vs. Net

32. Lesson 2: Fee Determination Chair Cost (3-4 hrs) • Consultation • I&R class(es) • Follow-up visits

33. Dr. D’s Average Cost

34. Average Chair Cost

35. YOUR Cost to Provide CRT

36. Your Fee(s) to Provide CRT

37. Lesson 3: The “Secret Sauce” How are YOU going to make YOUR patients so happy with YOUR care, they become Raving Fans? (Hint: It’s NOT correcting their vision!)

38. Critical Non-Essentials: • The “secret” is Critical Non-Essentials • Create Raving Fans • Create Qualified Referrals

39. How Will You Respond?

40. How Will You Respond? Hi Dr. D, Julia woke up with eye pain.  She took her OK lens out and went back to sleep.  After that, she’s been hesitant and skips most nights.  I am concerned about the situation! I would like to bring her in ASAP! I look forward to hearing from you. Mom

41. Better 1 or 2?

42. Secret Sauce: My response: * I’d like to examine her ASAP. * I've copied my staff who will get you in ASAP.  I’ll give your child a note for school.* Thanks for the excellent update. * Dr. D

43. Secret Sauce: Hi Dr D, Thank you so much for spending time with my daughter this afternoon. I referred my friend, they will email your staff for an appointment. Kind regards, Julia’s mom

44. Your Competition’s Sauce: • Website Optimization • Facebook • Newspapers • Cable • Value Pak • Radio • Penny saver

45. Advertising “Anyone who thinks advertising is the way to go….is nuts!” Lisa M. MacArthur EyeCare Professionals Business Manager for 30 years

46. What could they ask? • How much is CRT? • I never heard of it, is it new? • Does insurance cover it? • Flexible spending account? • Is it safe? • Is it permanent? • May I visit your office? • May I speak to your patients?

47. It’s Simple…but Not Easy! • Parents email (or text) our office • We place urgency in our response • We spend TIME during their visit • We follow up after EVERY visit • We have dedicated staff assigned to patients

48. The ultimate goal is: Have all “OK” patients refer “Qualified Candidates” to your practice.

49. Marketing or Just Good Care? • Teresa has worn CRT with Dr. D for 12 years • She started to wear eyeglasses in the 1st grade • We’ve recommended Dr. D to many friend • He is different from ‘normal’ doctors who give patients a few minutes per visit • Dr. D communicates via email and by phone I wish I wrote this letter sooner ….