AE March/April 2018 Vol 27 No 2 - 27

P
TO
OUR
Y
G
N
I
K
THE
TA
O
T
E
C
I
P R AC T

Katy O'Grady

S

"

uccess doesn't happen by accident," says
Andrew Maller, MBA, COE, of BSM Consulting. And he should know: his firm has
studied what makes ophthalmology practices successful. It comes down to measurement and mindset. No matter the size of
the practice, those in the top tier use regular
measurement of practice data and embrace a mindset
supporting growth and the practice's goals.
Defining "top tier" can be tricky, with practice
administrators focusing on different benchmarks and
variation in doctors' compensation. Maller recommends that, at a minimum, all practices pay attention
to these three benchmarks:
1. Revenue generated per doctor. This will vary
based on type of physician and is useful for comparison with others in a subset.
2. Operating expense ratio: operating expenses before
physicians are compensated, divided by revenue for

the practice. According to Maller, most practices
generally are in the range of 50-70%, while the top
10% of practices have a ratio of 40-45%.
3. Net operating income ratio: practice income (after expenses and before physician wages) divided
by total revenue. Typical practices fall between
30% and 50%, with a top-10% practice likely in
the 50-60% range, Maller said.
To ensure that their benchmarks stay in that top-10%
range, Maller has found that successful practices keep
their doctors very busy while also carefully managing
their resources, especially staff.
Administrators from five practices across the U.S.
shared their insights on monitoring and interpreting
their vital practice data, setting realistic goals, supporting a mindset for growth among physicians and staff,
and the power of good communication.
MEASURE WHAT MATTERS
Determining factors such as appropriate staff size
requires in-depth understanding of the practice's
benchmark numbers. "Know your numbers cold. The
second you take your eye off the numbers is when
they're going to slip," said Zachary Smith, COE, who



Table of Contents for the Digital Edition of AE March/April 2018 Vol 27 No 2

How We Can Successfully Lead
Advanced Administration: Administrator Success Factors—Needing a Tune-Up Is Expected
Advice for New Administrators: Introducing the Administrator Beginners Circle—The Go-To Resource for New Administrators
Business Operations: Some Things to Know About Professional Liability Insurance
Customer Care: Making a Diffi cult Journey A Little Easier
Fast Practice: Breaking Down Practice Cliques
Human Resources: Recruiting Strategies for Ophthalmology—Where to Search for New Physicians
InfoTech: Cloud Computing— Storms or Blue Skies?
Reimbursement: Embracing Change to Thrive in an Evolving Reimbursement World
Technicians: Creating a “Feeder Program” to Staff Your Clinic
Washington Watch: MIPS in 2018—Key Changes for Ophthalmic Practices
Taking Your Practice to the Top
Use Podcasts to Increase Practice Visibility—and Thrive
Trailblazing— How to Implement Career Pathing in Your Practice
Ocular Surface Disease: Reimbursement Considerations for the Evaluation and Management of Dry Eye
Retina: Should Retinal Specialists Be Integrated Into a Multispecialty Practice?
Asked and Answered
ASOA News
Bookshelf: Off Balance On Purpose: Embrace Uncertainty and Create a Life You Love
COE Corner: Preparing for the COE Exam – Keep Your Eye on the Prize
Focus on a Practice: Ohio Valley Eye Physicians & Surgeons, PLLC, on Operating a Practice in Two States
Gamechanger: Karen Bachman, COE, COMT, OCS, ROUB
Advertisers’ Index
Peer to Peer: What’s Your Favorite Technique for Holding a Productive Staff Meeting?
AE March/April 2018 Vol 27 No 2 - Cover1
AE March/April 2018 Vol 27 No 2 - Cover2
AE March/April 2018 Vol 27 No 2 - 1
AE March/April 2018 Vol 27 No 2 - 2
AE March/April 2018 Vol 27 No 2 - 3
AE March/April 2018 Vol 27 No 2 - 4
AE March/April 2018 Vol 27 No 2 - How We Can Successfully Lead
AE March/April 2018 Vol 27 No 2 - Advanced Administration: Administrator Success Factors—Needing a Tune-Up Is Expected
AE March/April 2018 Vol 27 No 2 - 7
AE March/April 2018 Vol 27 No 2 - Advice for New Administrators: Introducing the Administrator Beginners Circle—The Go-To Resource for New Administrators
AE March/April 2018 Vol 27 No 2 - 9
AE March/April 2018 Vol 27 No 2 - Business Operations: Some Things to Know About Professional Liability Insurance
AE March/April 2018 Vol 27 No 2 - 11
AE March/April 2018 Vol 27 No 2 - Customer Care: Making a Diffi cult Journey A Little Easier
AE March/April 2018 Vol 27 No 2 - 13
AE March/April 2018 Vol 27 No 2 - Fast Practice: Breaking Down Practice Cliques
AE March/April 2018 Vol 27 No 2 - 15
AE March/April 2018 Vol 27 No 2 - Human Resources: Recruiting Strategies for Ophthalmology—Where to Search for New Physicians
AE March/April 2018 Vol 27 No 2 - 17
AE March/April 2018 Vol 27 No 2 - InfoTech: Cloud Computing— Storms or Blue Skies?
AE March/April 2018 Vol 27 No 2 - 19
AE March/April 2018 Vol 27 No 2 - Reimbursement: Embracing Change to Thrive in an Evolving Reimbursement World
AE March/April 2018 Vol 27 No 2 - 21
AE March/April 2018 Vol 27 No 2 - Technicians: Creating a “Feeder Program” to Staff Your Clinic
AE March/April 2018 Vol 27 No 2 - 23
AE March/April 2018 Vol 27 No 2 - Washington Watch: MIPS in 2018—Key Changes for Ophthalmic Practices
AE March/April 2018 Vol 27 No 2 - 25
AE March/April 2018 Vol 27 No 2 - Taking Your Practice to the Top
AE March/April 2018 Vol 27 No 2 - 27
AE March/April 2018 Vol 27 No 2 - 28
AE March/April 2018 Vol 27 No 2 - 29
AE March/April 2018 Vol 27 No 2 - 30
AE March/April 2018 Vol 27 No 2 - 31
AE March/April 2018 Vol 27 No 2 - 32
AE March/April 2018 Vol 27 No 2 - 33
AE March/April 2018 Vol 27 No 2 - Use Podcasts to Increase Practice Visibility—and Thrive
AE March/April 2018 Vol 27 No 2 - 35
AE March/April 2018 Vol 27 No 2 - 36
AE March/April 2018 Vol 27 No 2 - 37
AE March/April 2018 Vol 27 No 2 - Trailblazing— How to Implement Career Pathing in Your Practice
AE March/April 2018 Vol 27 No 2 - 39
AE March/April 2018 Vol 27 No 2 - 40
AE March/April 2018 Vol 27 No 2 - 41
AE March/April 2018 Vol 27 No 2 - Ocular Surface Disease: Reimbursement Considerations for the Evaluation and Management of Dry Eye
AE March/April 2018 Vol 27 No 2 - 43
AE March/April 2018 Vol 27 No 2 - Retina: Should Retinal Specialists Be Integrated Into a Multispecialty Practice?
AE March/April 2018 Vol 27 No 2 - 45
AE March/April 2018 Vol 27 No 2 - Asked and Answered
AE March/April 2018 Vol 27 No 2 - 47
AE March/April 2018 Vol 27 No 2 - ASOA News
AE March/April 2018 Vol 27 No 2 - 49
AE March/April 2018 Vol 27 No 2 - Bookshelf: Off Balance On Purpose: Embrace Uncertainty and Create a Life You Love
AE March/April 2018 Vol 27 No 2 - 51
AE March/April 2018 Vol 27 No 2 - COE Corner: Preparing for the COE Exam – Keep Your Eye on the Prize
AE March/April 2018 Vol 27 No 2 - 53
AE March/April 2018 Vol 27 No 2 - Focus on a Practice: Ohio Valley Eye Physicians & Surgeons, PLLC, on Operating a Practice in Two States
AE March/April 2018 Vol 27 No 2 - 55
AE March/April 2018 Vol 27 No 2 - Gamechanger: Karen Bachman, COE, COMT, OCS, ROUB
AE March/April 2018 Vol 27 No 2 - 57
AE March/April 2018 Vol 27 No 2 - Advertisers’ Index
AE March/April 2018 Vol 27 No 2 - 59
AE March/April 2018 Vol 27 No 2 - Peer to Peer: What’s Your Favorite Technique for Holding a Productive Staff Meeting?
AE March/April 2018 Vol 27 No 2 - Cover3
AE March/April 2018 Vol 27 No 2 - Cover4
http://www.nxtbook.com/ygsreprints/ASOA/g107843_ae_julyaug19
http://www.nxtbook.com/ygsreprints/ASOA/g105962_ae_mayjun19
http://www.nxtbook.com/ygsreprints/ASOA/g104576_ae_marapr19
http://www.nxtbook.com/ygsreprints/ASOA/g103212_ae_janfeb19
http://www.nxtbook.com/ygsreprints/ASOA/g99529_ae_novdec18
http://www.nxtbook.com/ygsreprints/ASOA/g97160_ae_septoct18
http://www.nxtbook.com/ygsreprints/ASOA/g96528_ae_julyaugust18
http://www.nxtbook.com/ygsreprints/ASOA/g93925_ae_mayjune18
http://www.nxtbook.com/ygsreprints/ASOA/g92298_ae_marapr18
http://www.nxtbook.com/ygsreprints/ASOA/g89361_ae_janfeb18
http://www.nxtbook.com/ygsreprints/ASOA/g86698_ae_novdec17
http://www.nxtbook.com/ygsreprints/ASOA/g81746_ae_septoct17
http://www.nxtbook.com/ygsreprints/ASOA/g80299_ae_julaug17
http://www.nxtbook.com/ygsreprints/ASOA/g77256_ae_mayjun17
http://www.nxtbook.com/ygsreprints/ASOA/g74401_ae_marapr17
http://www.nxtbook.com/ygsreprints/ASOA/g72340_ae_janfeb17
http://www.nxtbook.com/ygsreprints/ASOA/ae_novdec16
http://www.nxtbook.com/ygsreprints/ASOA/ae_septoct16
http://www.nxtbook.com/ygsreprints/ASOA/ae_julaug16
http://www.nxtbook.com/ygsreprints/ASOA/asoa_mayjune2016
http://www.nxtbook.com/ygsreprints/ASOA/asoa_marapr2016
http://www.nxtbook.com/ygsreprints/ASOA/asoa_janfeb16
http://www.nxtbook.com/ygsreprints/ASOA/ae_novdec15
http://www.nxtbook.com/ygsreprints/ASOA/asoa_sepoct15
http://www.nxtbook.com/ygsreprints/APTA/g52750_apta_25ada
http://www.nxtbook.com/ygsreprints/ASOA/asoa_julyaug2015
http://www.nxtbook.com/ygsreprints/ASOA/asoa_mayjune2015
http://www.nxtbook.com/ygsreprints/ASOA/asoa_marapr2015
http://www.nxtbook.com/ygsreprints/ASOA/asoa_janfeb15
http://www.nxtbook.com/ygsreprints/ASOA/asoa_novdec14
http://www.nxtbook.com/ygsreprints/ASOA/asoa_sepoct14_AE
http://www.nxtbook.com/ygsreprints/ASOA/asoa_julaug14
http://www.nxtbook.com/ygsreprints/ASOA/ASOA_MayJunAE
http://www.nxtbook.com/ygsreprints/ASOA/ASOA_MarAprAE
http://www.nxtbook.com/ygsreprints/ASOA/ASOA_JanFebAE
http://www.nxtbook.com/ygsreprints/ASOA/ASOA_no4eZine
http://www.nxtbook.com/ygsreprints/ASOA/asoa_fall_2013
http://www.nxtbook.com/ygsreprints/ASOA/asoa_no3_ezine
http://www.nxtbook.com/ygsreprints/ASOA/asoa/asoa_summer_2013
http://www.nxtbook.com/ygsreprints/ASOA/ehr_cust_survey_Apr2013
http://www.nxtbook.com/ygsreprints/ASOA/asoa_no2_2013_ezine
http://www.nxtbookMEDIA.com