Eyeworld

APRIL 2023 | EYEWORLD | 103 P 7. The shift from "any plan or even no plan works" to "we had better choose the right business plan." Some practices still go "bare" when it comes to writing a formal strategic business plan. They skip from one business opportunity to the next without the basic un- derpinning of a strategic context for their tac- tical decisions. The smartest practices today are taking the time to discuss and formalize their long-term goals. We are in the middle stages of a profound phase shift in the business and profession of eye- care. The future environment will oblige more teamwork and less rugged individualism, more planning and less shoot from the hip, more lead- ership and less freestyle management. medical decision making will result from ar- tificial intelligence. Lay staff will be similarly directed by machines in their support of the doctor. Rather than fight this trend, embrace it, and harness technology that will hopefully be emerging from the most vanguard software providers to help you make and record faster clinical decisions, see more patients, and stay CMS-safe. 5. Provider harmony will take more work. Con- trol equals happiness, and the private group practice of the future will almost certainly involve less control. From past study and observation, we know that surgeon happiness and collegial relations within a group setting correlates most closely with a surgeon's ability to earn an income that is higher than his or her lifestyle costs. Under best case scenarios, even the best mitigation efforts to respond to projected cuts and operating cost-creep will result in the typical partner in the typical practice receiving a cut in income. Three mit- igation strategies are essential in the coming era: • Surgeon owners need to know that they— and their managers—are doing everything reasonably possible to preserve profitability. • Surgeon owners need to double down on communication, especially frequent board level sessions to explore each doctor's feelings about their present and projected earnings. • To the extent feasible, owner and non-own- er providers need to plan ahead and get real about their retirement calculations be- fore the most difficult revenue adjustments arrive. 6. From a "weak leader" to a "strong leader" model. In today's environment, where deci- sions are tougher and come at you faster, a formal managing partner should be selected and empowered. This leader's role is not to take over for the board but to help ensure that the board's will and policies are being trans- lated into action by the management team. Contact Pinto: pintoinc@aol.com, 619-223-2233 Wohl: czwohl@gmail.com, 609-410-2932 Source: iStock.com/shapecharge

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