“The Red Queen said to Alice: ‘Here, you see, it takes all the running you can do to keep in the same place.’”
— Lewis Carroll, “Through the Looking Glass”
Probably now more than ever it seems that we as ophthalmologists are caught in the world of “Alice in Wonderland,” running as fast as we can to try to stay in the same place. The recent announcement of a 15% reduction in cataract surgeons’ fees in 2020 is the latest example of our need to work harder just to remain income-neutral for the coming year. Add to that the general yearly increases in overhead and it becomes quickly apparent that we may not be able to run fast enough to stay in one place this time.
So, is there anything we can do to not just stay in the same place but actually move our practices forward and perform better than last year?
There are some strategies practices can employ that may be effective in combating the Red Queen Effect. The first is to keep evolving. When things around us are changing, we have to change, too. Look to add new services to your practice that can quickly contribute to the bottom line.
Second, find ways you can draw a distinction between you and your competitors. For example, can you create a better experience for your patients versus the practice next door?
Next, look for ways to streamline workflow. Can the surgery center be more efficient? Can the clinic move more patients by implementing simple changes? Don’t be afraid to think outside the box or look at nonmedical businesses for ideas.
Then, invest in your mental resources. Attending industry meetings for you and staff can be a great way to find new ideas that can be brought back to advance the practice. Networking with your colleagues is an excellent way to learn new helpful tips. The more educated your staff is on practice management, the more likely they are to have great ideas to share.
Finally, implement your strategy. So often we think of ideas that can improve our practice, but we get caught up in the daily grind and they never get to see the light of day. Taking the time to create a plan and then revisit it frequently is crucial to growing the practice.
There are many ideas for beating the Red Queen Effect in this issue of The Ophthalmic ASC. We take a close look at the advantages of ASC ownership (page 7) as well as the ways to benefit if ownership is not currently in the cards (page 12).
For our practice, electronic medical records (EMR) has allowed us to improve the workflow in both the ASC and the clinic. If you have not brought EMR into your ASC, the article on choosing an EMR (page 16) is a must-read.
It seems that the Red Queen Effect is a fact of life in all businesses, medical and otherwise. As physicians, giving in to the idea that we can’t escape it will only lead to burnout and dissatisfaction. Fortunately, we have many options at our disposal to keep from staying in the same place—we just need to take action.
So, read on and get moving!