Business Operations

Business Operations

Business operations are the activities conducted to ensure that the practice’s day-to-day functions result in financial success. To be effective, efforts must be financially sound, strategically managed, and efficiently conducted. This section delivers information on efficient operational structures and discusses how strategic planning can be used to achieve this goal.

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The term benchmark means: a point of reference or standard by which something can be measured or judged. Benchmarks, as they relate to the ophthalmic dispensary, are guidelines that can be utilized by the practice to measure the performance of its optical dispensary as compared to industry standards and averages. Comparing the performance of specific areas of the optical business to industry benchmarks can aid the optician in quickly identifying problems that may negatively impact profits. Once the problems are identified, the optician can assess their current protocol or methods of operation and institute changes to enhance productivity and profitability.

Activities Included:

Benchmarking Pre-test

Benchmarking Resources

Benchmarking Post-test

Frame inventory in an optical dispensary is a substantial expenditure. To successfully oversee and control this major investment, it is essential that a well-defined plan be instituted. This chapter provides plans to set up a new inventory or restructure an existing inventory. The plan also provides details on how to develop an inventory budget and outlines protocols necessary to maintain the budget.

Activities Included:

Optical Inventory Pre-test

Optical Inventory Resources

Optical Inventory Post-test

When a patient presents in the office with an eye problem, many physicians look for specific signs and symptoms that quickly lead to a diagnosis and eventually a solution to the patient’s problem. Similarly, when analyzing a practice for flow and efficiency problems, it is important to look for certain “red flags” that suggest there might be a problem and then search for possible solutions.

Activities Included:

Operational Efficiency Pre-test

Operational Efficiency Resources

Operational Efficiency Post-test

Health care is in a constant state of flux. Reimbursements and patient delivery systems, emerging technology and competitive influences are continually creating new challenges for health care providers. The process of developing a business plan can serve to bring clarity and objectivity to the assessment of the impact of these and other market dynamics.

Activities Included:

Strategic Planning Pre-test

Strategic Planning Resource

Strategic Planning Post-test

Insurance is a means to provide mitigation of risks that arise from various events that might cause harm or loss to the policyholder. These events commonly include illness, death, disability, damage to property, loss of property, or a court-ordered financial payment to another party. Some of these events are more likely to occur than others, and some events have greater potential financial impact on a policyholder compared to other events. It is important for administrators to understand the nuances of business insurance specific to the medical practice. Appropriate staff should be able to define the concept of insurance, comprehend a variety of practice-related insurance products, understand cost factors, recognize the role of an agent or broker, and assess a practice’s evolving insurance needs.

Activities Included:

Business Operations Pre-test

Business Operations Resources

Business Operations Post-test

This course examines the do’s and don’ts of writing professional emails in the workplace and provides tips that prepare students to adopt a more structured approach to the process. The course discusses the basic elements of a business email and outlines common etiquette standards employed and expected by business professionals. Additionally, the course describes how to appropriately organize, write, edit, send, and reply to emails in the workplace.

Activities Included:

A Guide to Writing Amazingly Good Professional Emails Pre-test

A Guide to Writing Amazingly Good Professional Emails Resource

A Guide to Writing Amazingly Good Professional Emails Post-test