Dr. Hayes Blog

Jerry Hayes, OD presents a variety of tips and tactics designed to
bring more dollars to your bottom line. You are invited to
comment on the topics we cover.

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Red Tray Radio: Getting Started With EMR Software For OD's

By Jerry Hayes OD | 5/25/2010 - 11:00 am
This week Dr. Hayes interviews Dr. Richard Hom, an OD and expert on Electronic Medical Records software.
 
Dr. Hom talks about what EMR is and why not every practice owner will need it. He also names some the top companies currently producing EMR such as Officemate, Compulink and Maximeyes, and what he likes about them.  Overall, very informative. 




Is 20% Of Gross Enough For Staff Overhead?

By Jerry Hayes OD | 5/19/2010 - 11:00 am

Dr. Hayes,

I was curious about your 20% cost of staff benchmark mentioned in your blog of May 11. For any given practice, you are suggesting $25k per FTE based on your one FTE per $125k of production. With taxes and benefits, you are looking at $10-11/hr. I don't see how one can develop and retain a well trained professional staff on that kind of compensation. Are these benchmarks skewed toward rural depressed areas? Even at 25% for labor you are looking at $31k per employee. 


Love reading your insights. Keep them coming. Dr K


Jerry,


I have generally followed your recommended guidelines/metrics for cost containment.  They have been very helpful to make sure we are on the right track.  But I disagree with one employee for every $125,000 of practice income.  This only allows for $12/hr. employees.  It is difficult to find anyone with half a brain that will work for $10-12/hr, especially after a couple of years of employment.  


I think it is definitely better to have higher paid employees that are smart, dedicated, and good workers.




How Much Staff Does A Solo OD Need?

By Jerry Hayes OD | 5/11/2010 - 11:00 am

Dear Dr. Hayes, 

I recently moved to a new location and want your advice on my doctor to staff ratio. I work 26 hours per week and see an average of two full exams and one follow-up visit per hour.
 
My current staff includes three 'full time equivalent' employees (FTE's). I have a full-time optician, a full-time receptionist, a part-time receptionist who works 20 hours per week in a billing person who averages 15 hours per week.
 
Please let me know your thoughts on how I can most efficiently staff my office.
 
Thanks so much for your help.
Michael Collins, OD (name changed)
 
Dear Dr. Collins,
 
I use three metrics to evaluate overall staffing levels and productivity for private practice OD's;




Red Tray Radio: Allan Barker, OD: How To Evaluate Managed Care Plans

By Jerry Hayes OD | 5/4/2010 - 11:00 am

This week, Dr. Hayes interviews Allan Barker, OD President of Eyecare Center OD PA and President of the North Carolina Optometric Association. 

Dr. Barker talks from experience about the things private practice owners should look for when selecting and working with a managed care plan.