Podcast Summary: Power Hour Optometry – "The Profit-Driving Tech Strategy That Majority of Practices Overlook, with Dr. Sage Hider"

Release Date: April 16, 2025

Introduction

In this episode of Power Hour Optometry, host Eugene Schottzman welcomes Dr. Sage Hider, a seasoned clinician with over 30 years of experience in a single practice in San Luis Obispo, California. Dr. Hider shares his insights on integrating technology into optometric practices not merely for its novelty but as strategic investments that drive profitability and enhance patient care.

Background and Practice Philosophy

[02:16] Dr. Sage Hider opens by describing his long-term practice commitment and the deep relationships he's built with his patients. His longevity in a single location has allowed him to foster trust and personal connections, enabling him to tailor his services effectively.

Key Points:

• Long-Term Patient Relationships: Dr. Hider emphasizes the value of treating the same patients over decades, allowing for comprehensive care and personalized treatment plans.
• Community Integration: His involvement in community activities, such as local soccer and youth boards, enhances patient loyalty and trust.

The Role of Technology in Optometry

Eugene Schottzman steers the conversation towards the core topic: leveraging technology to boost practice profitability. Dr. Hider distinguishes between adopting technology for its allure versus its tangible benefits to patient care and practice efficiency.

Notable Quote:

[07:34] Dr. Sage Hider: "It improves patient care, it improves the ability to treat them and it makes the flow in the office work very well."

Key Points:

• Essential vs. Non-Essential Technology: Determining which technologies are vital for patient care and which are supplementary requires careful evaluation of costs versus benefits.
• Return on Investment (ROI): Dr. Hider outlines a formula to assess the financial viability of new equipment, ensuring each investment contributes positively to the practice's bottom line.

Case Study: Fundus Photography Investment

Dr. Hider delves into his experience with fundus photography, tracing its evolution from Polaroid cameras to advanced digital systems.

Notable Quote:

[17:58] Dr. Sage Hider: "Patients really love that technology just as much as I do."

Key Points:

• Initial Challenges: Transitioning from film-based to digital fundus photography improved image quality and workflow efficiency.
• Patient Engagement: High capture rates (~90%) are achieved by educating patients on the benefits of fundus imaging, leading to increased acceptance and repeat usage.
• Financial Breakdown:
  • Equipment Cost: ~$100,000 for advanced imaging devices.
  • Loan Terms: 5-year loan at 6% interest results in monthly payments of approximately $2,000.
  • Revenue Generation: Charging $40 per image necessitates capturing 50 patients to cover the loan, achievable through efficient patient throughput.

Notable Quote:

[14:06] Dr. Sage Hider: "If you're doing 10 patients a day, that's five days of seeing patients, that's one doctor, five days of seeing a patient to pay for that."

Optimizing OCT and Visual Field Analyzers

Dr. Hider discusses the implementation and financial justification of Optical Coherence Tomography (OCT) machines and virtual reality visual field analyzers in his practice.

Notable Quote:

[39:51] Dr. Sage Hider: "So let's say you're seeing half that many patients, you know, or even a third that many patients. You're still going to pay for this thing."

Key Points:

• OCT Integration:

  • Cost: Approximately $80,000 for advanced OCT devices.
  • Revenue: At $38 per OCT scan, capturing 10 patients monthly covers the expense.
  • Patient Benefits: Immediate diagnosis and treatment planning increase patient trust and satisfaction.

• Virtual Reality Visual Field Analyzer:

  • Cost: Around $50,000 with a monthly payment of $199.
  • Revenue: Charging $40 per test requires only five patients monthly to offset costs.
  • Advantages: Enhanced patient experience, higher accuracy, and reduced false positives/negatives.

Notable Quote:

[50:54] Dr. Sage Hider: "If you have one doctor paying for an OCT needing, you have three doctors in a practice or two doctors in practice, that really makes that a lot more a reasonable type of thing."

Additional Technologies and Their Impact

Beyond fundus photography and OCT, Dr. Hider highlights other essential technologies that contribute to both patient care and practice profitability.

Key Points:

• Anterior Segment Cameras: Affordable and multipurpose, they allow for detailed imaging of the cornea and anterior eye structures, facilitating accurate diagnoses and treatment planning.
• Corneal Topography: Vital for fitting specialty lenses and diagnosing conditions like keratoconus, though reimbursement is limited unless directly tied to treatment protocols.
• Tear Film Analyzers: Important for diagnosing and managing dry eye conditions, enhancing patient satisfaction through targeted treatments.

Notable Quote:

[43:00] Dr. Sage Hider: "Another one. Gonioscopy. You know, I found myself not doing gonioscopy for about 10 years, and I thought, why am I not doing this on every one of these patients as a glaucoma suspect?"

Criteria for Technology Adoption

Dr. Hider outlines a comprehensive framework for evaluating new technologies:

1. ROI Calculation: Ensuring the technology can be financially justified through patient usage and reimbursement rates.
2. Ease of Use: The technology must be user-friendly for both staff and patients to ensure high adoption rates and accurate data collection.
3. Data Quality: High-quality, reliable data is crucial for effective patient care and minimizing errors.
4. Patient Engagement: Technologies that allow for patient education and involvement lead to higher satisfaction and retention.

Notable Quote:

[26:43] Dr. Sage Hider: "Ease of use, great data and cost effective that you can have in your practice. Anybody can have that in their practice."

Common Mistakes and Lessons Learned

Dr. Hider shares experiences of investments that did not meet his practice's needs, emphasizing the importance of aligning technology with clinical objectives.

Key Points:

• Redundant Equipment: Owning multiple OCTs led to underutilization; consolidating to a single, efficient unit maximized ROI.
• Technological Obsolescence: Older technologies, like the 2001 HRT, eventually become space-consuming and financially inefficient.
• Staff Training: Ensuring staff are proficient with new technologies is crucial for maximizing their utility and patient satisfaction.

Notable Quote:

[36:21] Dr. Sage Hider: "What can't you bill for it."

Conclusion and Best Practices

Dr. Hider concludes by reiterating the significance of integrating technology that not only enhances patient care but also contributes to the practice's financial health. Effective communication with patients about the benefits and implications of these technologies fosters trust and encourages adherence to treatment plans.

Notable Quote:

[50:54] Dr. Sage Hider: "Every tool should be a tool for patient care. They don't understand why they're doing it... giving them the correct information, they can't take care of themselves."

Key Takeaways:

• Strategic Investment: Prioritize technologies that offer clear clinical benefits and strong ROI.
• Patient Education: Use technology as a means to engage and educate patients, thereby enhancing their commitment to their eye health.
• Continuous Evaluation: Regularly assess the utility and financial impact of existing technologies to ensure they remain beneficial to the practice.

Final Thoughts

Dr. Sage Hider's pragmatic approach to technology adoption in optometry underscores the balance between clinical excellence and financial stewardship. By meticulously evaluating each technological investment's impact on patient care and practice profitability, optometrists can ensure their practices remain both cutting-edge and economically sustainable.

For more insights and resources on optimizing your optometric practice, visit www.PowerPractice.com.