Improving Your Practice’s Revenue Cycle Management

For many practices, their greatest challenges lie in areas beyond the healthcare itself.  Most practices would like to be able to spend more time focusing on patients, both in terms of care from doctors and attention from staff. We’ll dive into these challenges and identify areas of improvement, best practices and ultimately, what practices should know to improve their office efficiency.

In this webinar, TSYS Partner Relationship Manager Taisha Ferrendelli will discuss:

  • The struggles facing modern physicians’ offices 
  • Why unnecessary administrative costs need to be cut 
  • Where many practices can improve RCM 
  • And more 

This webinar will provide valuable insights for:

  • Administrators  
  • Physicians 
  • Billing departments  
  • And all practice team members involved in revenue cycle management 

Scott Hudson is the Partner Development Manager – Health Integrated Solutions – for Global Payments Integrated.  He has been in payments for 11 years and has been with TSYS/Global Payments Integrated since May 2019 managing some of their large health strategic partner relationships.  

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myCare Revenue Cycle Management – Beverly Hills Eye Associates

myCare RCM improves productivity, profitability, and compliance at a busy surgical center.

The physicians and staff at Beverly Hills Eye Associates located in Beverly Hills, CA, pride themselves on delivering high-quality, life-changing care. Their specialties include cataract surgery, refractive cataract surgery, LASIK, refractive surgery, dry eye treatment, and optical services. But the time and energy physicians and staff can dedicate to patient care in part depends on having an ophthalmology EMR and billing system that allows them to not only capture compensation for their work, but also makes it easy for patients to get the care they need.

How to Sell More Glasses: 3 Simple Steps

If your ophthalmology or optometry practice has an optical dispensary, you may be familiar with the following situation:

A patient is enamored with the high def progressives they just tried on (in the Cartier frames, obviously). Then, the optician starts talking price. You know what happens next. The patient politely asks for his or her Rx and leaves, heading to the local discount chain (or worse, online).

The stereotype of the “overpriced” dispensary continues. Are your outdated sales techniques to blame? If you’re looking to sell more glasses, those strategies may need an update to improve your optical profits.

According to optical consultant Carolyn Salvato, former Chief Administrative Officer at Loden iVision Centers, competing in a modern economy requires implementing sales techniques that are a bit different from traditional methods. Top-down eyeglass sales is as old fashioned as Benjamin Franklin’s double spectacles, and typically results in one of two scenarios:

  1. The patient doesn’t purchase. After being initially shown higher priced products (often with bundled lens options at one add-on price) the patient feels disappointed and decide to buy glasses elsewhere. You’ve lost the opportunity to offer lower cost options.
  2. The patient purchases, but doesn’t feel great about it. They’ve had to ask (maybe more than once) to see less expensive frames or lenses. They were told that optical prices “depend on what you need,” so they believe they’ve had to sacrifice needed options to reach an affordable price.

3 Simple Steps to Sell More Glasses Now!

Salvato recommends taking a cue from brands like Apple, Longchamp, and even M&Ms.Follow these industry leaders and implement a “build-your-own” eyeglass sales strategy. If you’re wondering how you can sell more glasses (and who isn’t?), follow these steps:

Step 1: Start with a base price.

Narrow the patient’s lens choices according to the prescription. Tell the client the base price of each option without any add-ons.

Step 2: Discuss options.

Patients are often confused by the number of lens materials and coating choices. Assess their lifestyle, daily activities, and any visually challenging situations they routinely face.

Step 3: Recommend and build.

Based on your professional assessment, help the patient choose options that give them the best value by addressing their top visual priorities while staying consistent with their pricing needs.

The “build-your-own” strategy may seem counter-intuitive for selling more glasses. After all, if patients are presented with a basic option that meets their needs, what incentive is there to spend more?

Look no further than your nearest auto dealership. Sure, you can get a brand new BMW for around $34,000, but it won’t include most of the luxuries the brand is known for. Alternatively, you could enjoy a Ford Fusion with nearly all the bells and whistles for about the same price. So what’s the best value? It’s all about priorities, and every patient values something different.

A “base model” lens with budget frames will work just fine for some, but others invariably need and want more.

Patients love the idea of single-source eye care. They value honest recommendations from opticians and professionals that they know, like, and trust. They want to spend their money on quality vision products that will improve their daily lives. Unfortunately, an outsized number of patients still think it is more expensive to buy eyeglasses from their doctor’s office than from other retail outlets or online. The profitability of the “build your own” sales strategy lies in helping patients overcome their misconceptions about private dispensary prices, quality, and service.

Related Articles

Reporting 2019 MIPS and Getting Ready for 2020

Do you possibly need assistance with 2019 MIPS reporting and more?

This webinar will help you understand the increasingly challenging requirements for practices to succeed with MIPS in 2020 and beyond.

In this webinar, Mike SchmidtVice President of Client Success and Regulatory Affairs at Eye Care Leaders, will discuss:  

  • Challenges due to CMS rule changes for the 2020 MIPS performance year
  • Increasing financial impacts of MIPS payment adjustments
  • Risks posed by MIPS pre-payment and post-payment audits
  • Need for a professional Security Risk Analysis
  • Requirements for electronic query of PDMP for controlled substance / opioid prescriptions
  • Services and solutions available to help practices succeed

This webinar will provide valuable insights for:

  • Physicians
  • Administrators
  • Billing departments
  • And All Practice Team Members responsible for MIPS performance goals
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About The Speaker:

Mike Schmidt
Eye Care Leaders

Mike Schmidt is the Vice President of Client Success and Regulatory Affairs at Eye Care Leaders. He leads the MIPS Assurance team and focuses on both CMS and ONC regulations applicable to healthcare IT. Prior to joining Eye Care Leaders, Mike had extensive experience in the medical device and healthcare IT industries in oncology, radiology, and ophthalmology. He started as a software engineer, but transitioned into other roles including engineering management, marketing and sales, compliance and regulatory affairs, and general management.

Everything you want to know about your practice’s financial health

Ready to dig out from under that hard-to-grasp pile of accounting reports? A financial dashboard will help you locate data and track trends quickly and easily.

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Maximizing Revenue with 4DX: Accounts Receivable Management

Managing the revenue cycle workflow and ensuring proper claims are two of the most important aspects of running a successful practice.

Yet many practices lack the staff time and expertise to ensure patient visits are properly coded and the practice is properly reimbursed. This lack of focus both reduces revenue and increases the risk of audits due to improper coding. Let Eye Care Leaders show you how our advanced myCare RCS packages can maximize your revenue.

In this webinar, David Julien, President of Alta Medical Management, will discuss:

  • RCS packages
  • Scenarios of how RCS has helped eye care providers
  • A review of reporting functions
  • And more!

This webinar will provide valuable insights for:

  • Physicians
  • Administrators
  • Billing departments
  • And all staff members who work with revenue cycle processes
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About The Speaker:

David Julien
President of Alta Medical Management

David has been with Eye Care Leaders since 2018.  He is responsible for leading Revenue Cycle Management, including Alta Medical Management. He spent his early career as a facility contractor with United Healthcare where he was later recruited by a billing company. David has more than 15 years of experience in providing revenue cycle management for physicians. 

The Golden Goose: How to Determine and Increase the Value of Your Practice

There is no one way to determine the value of your eye care practice. Instead, there are a number of valuation methods that take into account many different factors. In this paper, we will discuss some of the significant factors that contribute to the value of your eye care practice and actions you can take to increase that value.

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MORE Care with myCare MVE

myCare MVE offers an optical specific PM, EHR, and Retail Management software on a browser-based platform.

This provides both functionality and ease of use to manage inventory, simplify billing, and streamline exam times.

In this webinar, Janie Alanna Stryjewski, Product Manager for My Vision Express & myCare MVE, will cover the following topics: 

  • What makes myCare MVE different
  • A live demo
  • And more!

This webinar will provide valuable insights for:

  • Optometrists
  • Opticians
  • Optical owners 
  • Administrators 
  • And more!

About The Speaker:

Janie Alanna Stryjewski
Eye Care Leaders

Janie Alanna Stryjewski is the Product Manager for My Vision Express as well as the new myCare MVE. She has been a part of the myCare MVE team since it’s conception and has had the joy of seeing it grow into what it is today.

myCare MVE

Experience both function and freedom with the cloud-based optical-specifi c PM, EHR, and Retail Management
workfl ows of myCare MVE. Spend more time focusing on your patients due to ease of use and the ability to
access from anywhere. Empower your practice with both this and experienced support through myCare MVE.

Manage inventory, simplify billing, and streamline exam times with myCare MVE.

Experience both function and freedom with the cloud-based optical-specific PM, EHR, and Retail Management workflows of myCare MVE. Spend more time focusing on your patients due to ease of use and the ability to access from anywhere. Empower your practice with both this and experienced support through myCare MVE.

How to Increase Patient Engagement and Workflow Efficiencies

Creating a passive, yet powerful point of contact with your patients is important to allow them to connect with your practice in more ways than ever before.

This results in increasing patient engagement and allows a patient to feel more involved and better educated with their own care.

In this webinar, Stephanie McGarvey, Business Analyst with Eye Care Leaders, will cover the following topics: 

  • How to enhance your patient’s experience
  • How to increase workflow efficiencies
  • demonstration of the myCare Patient Engagement Suite 
  • And more! 

This webinar will provide valuable insights for:

  • Physician owners
  • Administrators
  • Managers
  • Marketing Managers
  • And more!

About The Speaker:

Stephanie McGarvey, Business Analyst for the myCare Patient Engagement Team at Eye Care Leaders

Stephanie McGarvey is a business analyst for the myCare Patient Engagement team at Eye Care Leaders and has worked in various roles at Eye Care Leaders over the past 13 years. Previously, Stephanie worked as a certified ophthalmic assistant with a multi-subspecialty practice and general ophthalmologist and spent time working as a technician for an optometry practice as well. Stephanie enjoys helping people and helping doctors provide the best care for their patients is rewarding to her. Outside of work, she loves spending time with her family and being outdoors. She and her husband live in Pennsylvania and have 3 children.