Eyeworld

24 Ophthalmology Business • March 2018 Overall, Dr. Lindstrom said adjunctive services are appreciated by his patients and when properly managed can generate net revenue. "For the little stuff, it is a service to your patients, making it one-stop shopping, which they like," he said. "If you're not looking at any supplementary services, you should be," Mr. Wilde advised. "Make sure you understand your patients' needs, make sure it meshes with the brand identity of the practice, and make sure your physician and leadership teams are aligned around the goals of the new program. Do your market research and financial homework and get to work." OB Editors' note: Dr. Lindstrom has fi- nancial interests with MyEyeStore. Mr. Wilde has no financial interests related to his comments. Contact information Lindstrom: rllindstrom@mneye.com Wilde: blwilde@mneye.com pharmacy option for patients, too," Dr. Lindstrom said. Minnesota Eye Consultants tried to bring on hearing services. Dr. Lindstrom said there have been studies showing people with ocular problems are also likely to have hear- ing problems. Minnesota Eye tried offering basic hearing tests and fit- ting hearing aids, but Dr. Lindstrom said this didn't work out well for the practice and was discontinued. Mr. Wilde said assessing add-on programs is critical. "We look at a variety of things: aggregate costs of patient turnover or the greater profit margins that repeat patients can provide," he said. "We look at unmet demand of our current patients or referral market, as well as market research and trends. For some programs, the additional services function more as a patient satisfaction and retention tool than a moneymaker. We are constantly evolving our financial reporting to be more aware of all data points that inform decisions about all of our service lines." services, such as onabotulinumtoxinA injections and dermal fillers. "There is an opportunity here, and it is a positive revenue generator in our practice to make some of these aesthetic treatments available," Dr. Lindstrom said. "Also some of the aesthetic adjuncts, like facial creams and skin lubricants, can be meaning- ful as well." Dr. Lindstrom said that Minne- sota Eye established a website where over-the-counter products recom- mended by physicians can be easily found and obtained by patients. It's called MyEyeStore (Bloomington, Minnesota), and it's something that any practice can establish. Minneso- ta Eye's MyEyeStore has everything from omega-3 tablets to artificial tears to contact lenses. Some of these items, Dr. Lindstrom said, can be difficult for patients to access, but with MyEyeStore, patients can easily locate and purchase items, and they can be ordered by the doctor with a single click through the patient's electronic medical record and shipped directly. "We created this as a service to our patients, but it does generate a small profit," Dr. Lindstrom said. "The products are fairly priced—bet- ter than what you could get at a typ- ical retail drug store—and far more convenient." Dr. Lindstrom said the practice is getting ready to launch a prescrip- tion drug vending machine called InstyMeds (Minneapolis) in its wait- ing room. The machine is stocked with some of the more commonly prescribed medications, such as anti- biotic drops, glaucoma medications, nonsteroidals, and more. Patients can pick up their prescription from the machine before leaving the office. It even has a telephone that can allow the patient to speak confidentially with a pharmacist, if they need to. "If you look at MyEyeStore, we can provide all the over-the-counter products … then with InstyMeds, we'll be able to provide a prescription continued from page 23 Minnesota Eye's MyEyeStore has everything from omega-3 tablets to artificial tears to contact lenses.

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