NEW YORK—The Management & Business Academy (MBA) for Eye Care Professionals held a continuing education lecture seminar sponsored by Essilor at the State University of New York College (SUNY) of Optometry on June 14. Richard Madonna, MA, OD, who serves as a professor and chairman of the Department of Clinical Education as well as the director of Office of Continuing Education, welcomed attendees to the MBA session. President of SUNY College of Optometry David Heath, OD, PhD, also greeted participants along with Essilor representative Stephanie Carlin.

The morning session kicked off with Essentials of Financial Management, presented by MBA faculty member Mark Wright, OD, FAAO. Dr. Wright stressed the importance of measuring to manage change in the business and outlined key metrics to track money flow, and he explained that the way messages are relayed to patients is just as important as the message itself. With a precise and different approach, doctors could see increased sales or patients returning more frequently for annual exams. Dr. Wright’s agenda also included business budgeting, analysis and forecasting, showing attendees how to reference to the Key Metrics: Assessing Optometric Practice Performance guide to compare their practice to the database of MBA graduates.

MBA faculty member Gary Gerber, OD, wrapped up the day with his afternoon session titled Essentials of Patient Experience Engineering. Dr. Gerber discussed world-class service strategies from leaders in the hotel, tourism and retail industries such as Ritz-Carlton and Nordstrom, known for outstanding service. Attendees learned how a culture of great service starts with the doctor but must filter down through each and every member of the staff to be successful. Dr. Gerber described the key components of the practice that create an experience for patients, and he addressed being prepared for service breakdowns by putting a plan in place for these situations. Throughout his lecture, Dr. Gerber translated how a great patient experience can affect your net income.

The MBA’s distinguished faculty of practice management experts presents live seminars and contributes to MBA publications, both in print and online. The focus of the faculty’s education is practical, easy-to-implement ideas that have been field tested and proven to increase financial return.

Since the program was launched in 2005, over 3,000 ECPs have attended an MBA seminar. Over 1,900 independent eyecare practices have completed the online survey that generates an MBA Optometric Practice Performance Assessment. The aggregate data from these practices goes into the MBA database. For more on the MBA program’s online tools, metrics database or to find local live events, visit mba-ce.com.

 

 

(L to R) David Heath, OD, PhD, SUNY College of Optometry president; Stephanie Carlin, Essilor; Mark Wright, OD, FCOVD, MBA faculty; and
Richard Madonna, OD, SUNY faculty. 
Mark Wright, OD, FCOVD, presented “Essentials of Financial Management.”

 

Gary Gerber, OD, presented “Essentials of Patient Experience Engineering.” At an MBA Seminar, participants break into workshop groups to brainstorm “best practice ideas,” that are shared on mba-ce.com.