Are you ready to rethink how your practice generates revenue per patient? Most strategies focus on optical sales, capture rates, or multiple pair promotions – but what if there’s a completely different way to approach it? Dr. Todd Cohan shares his exact formula for transforming comprehensive exams into significant additional revenue through his unique strategy.
In this episode of Power Hour, host Eugene Shatsman dives into Dr. Cohan’s unique approach, which results in unusually high revenue per patient. Surprisingly, only 33% of his practice revenue comes from optical sales. The rest? It’s all about leveraging patient care in innovative ways.
Dr. Cohan walks us through his pre-test process, which collects significant out-of-pocket revenue before the exam even begins – far exceeding the typical $39 imaging fee. He also reveals how he turns routine comprehensive exams into opportunities for high-revenue services like dry eye treatment and myopia management, which make up a substantial portion of the remaining 67% of his practice income.
Dr. Cohan doesn’t just share his success; he breaks down his process into actionable steps you can borrow and implement. This episode offers a fresh perspective for optometrists looking to elevate their profitability while providing exceptional patient care.
Key Takeaways
- Pre-Test Revenue Innovation: Learn how Dr. Cohan’s unique pre-test strategy generates significant income upfront.
- Transforming Exams into Treatments: Discover how to convert exams into profitable services like dry eye treatment and myopia management.
- Rethinking Revenue Streams: Explore alternative revenue sources beyond traditional optical sales.
- Actionable Analogy and Insights: Take note of Dr. Cohan’s creative analogies and one-liners that make complex concepts relatable.
In This Episode
- 00:00 Introduction: Rethinking Revenue Per Patient
- 05:00 Dr. Cohan’s Pre-Test Process: Generating Upfront Revenue
- 12:30 Transitioning from Comprehensive Exams to Revenue-Generating Treatments
- 20:45 Leveraging Dry Eye Treatment and Myopia Management for High Revenue
- 27:15 Building Trust and Driving Patient Acceptance
- 33:00 Creative Analogies and Insights You Can Apply to Your Practice
- 39:45 Practical Steps to Elevate Revenue Without High-End Sales
Contact Information
Connect with Dr. Todd Cohan
Dr. Todd Cohan, O.D., is an accomplished optometrist and founder of Foresight Vision, known for his personalized approach to eye care and commitment to advanced technology. In response to the rising need for dry eye treatment, he established the Midwest Dry Eye Center, offering cutting-edge care for conditions like dry eye and meibomian gland dysfunction.
A respected industry speaker, Dr. Cohan frequently shares his expertise on contact lens comfort and dry eye management. He is a founding member of a national optometry research group and serves as the Medical Director for Hoot Dry Eyes, a national provider for dry eye care.
Outside of his practice, Dr. Cohan enjoys tennis, fitness, travel, and family time in Buffalo Grove, where he lives with his wife and two children.
Website – https://www.midwestdryeyecenter.com/
LinkedIn – https://www.linkedin.com/in/dr-todd-cohan-o-d-3b297a8/
Connect with Eugene Shatsman:
Website – https://www.eugeneshatsman.com/
LinkedIn – https://www.linkedin.com/in/eugeneshatsman