Business Applications II

Question 1

4 things to check when troubleshooting

Answer 1

Fit
Measurements
Rx
Lens design

Question 2

Military lenses

Answer 2

ANSI Z87

• tactical sue, shooting, and military use
• no flashy/trendy frames

Question 3

High heat situations glasses

Answer 3

• kitchen dishwasher needs glasses to withstand heat
• dashboard of car
• plastic warps, metal can feel hot
• coatings can be damaged

Question 4

Welders

Answer 4

• shaded safety glassses
• shade 14 has almost no light tranmission through that lens
• protects against welders flash (photokeratitis)

Question 5

Pros of corporate

Answer 5

Less overhead
Less fluctuation
Marketing done for you

Question 6

Pros for private

Answer 6

Make own schedule
Make own prices
Insurance selection
Scope of practice

Question 7

Cons of corporate

Answer 7

Top out, cant make more

Contract restrictions

Question 8

Cons of private

Answer 8

More overhead
Administrative time
Hiring and training employees

Question 9

How much of a practice revolves around product sales

Answer 9

60%

Question 10

2 parts to optometric practice

Answer 10

Professional eye care

Retail optical

Question 11

Average exam grosses at

Answer 11

$306

Question 12

How to determine your frame inventory

Answer 12

Patient demographics
Industry trends
Office needs

Question 13

Segmenting frames

Answer 13

• by designer and brand
• categorizing based on other criteria like style, risks having a wall that looks the same everywhere
• perception of choice

Question 14

Turn ratio

Answer 14

A metric that describes the frequency of sales and turnover of inventory
-if you have had a frame for a year and haven’t sold it, get rid of it

Question 15

Physical space limitations with frames

Answer 15

Standard to limit frame storage to 5% of total inventory

Question 16

Vendors

Answer 16

Make a list of must haves, lists of things that are negotiable, consignment
-they’ll give you 10 frames and it doesn’t cost you until someone buys one

Question 17

Highest value items

Answer 17

In front

Question 18

High-profit items

Answer 18

Eye level

Question 19

Lifestyle imaging with frames

Answer 19

In window isplays, showcase

Question 20

Social media and selling frames

Answer 20

Email marketing

Question 21

Cross marketing in frames

Answer 21

Can cross market with other businesses

Question 22

Price and inventory factors for frames

Answer 22

• look at demographics, inceom levels, stores frequented, shopping pattern
• research competition, identify your competitors, personally shop them, check pricing models, what males you different
• decide on a model based off of the above info, then pick vendors and stock accordingly

Question 23

Things to keep in mind to determine pricing

Answer 23

• time to place an order
• time to stock frames on boards
• time to clean and organize
• shipping costs

Question 24

Standard markup on frames

Answer 24

There is no standard, but it is usually 2.5-3 times markup

Question 25

T or F, tinted lenses are necessary to provide protection from UV rays

Answer 25

False, they help with visibility

Question 26

Shaded sunglasses without UV protection can do more harm than no sunglasses at all, T or F

Answer 26

True

Question 27

To detainer if a lens has passed the high velocity test, look for the + mark. T or F

Answer 27

True

Question 28

V indicates a lens is photocromic, T or F?

Answer 28

True

Question 29

S indicates a lens has a special tint, true or false

Answer 29

True

Question 30

Most common type of lab

Answer 30

Finish lab, not surface lab

Question 31

Purpose of on site lab

Answer 31

Provide better service Increase customer satisfaction Grow the business Increase profits

Question 32

Benefits of in-house lab

Answer 32

- reduced lab cost - faster service - improved service - marketing

Question 33

Factors to consider for in-house lab

Answer 33

-shipping times/return times/how often -shipping costs -staffing and/or training costs -specialties -what to stock —stock lenses —tints and coatings

Question 34

Pros to onsite

Answer 34

Less turn around time Profit Easier to take care of remakes

Question 35

Pros of off site

Answer 35

Don’t have to train anyone | Cost (overhead)

Question 36

Cons of on site

Answer 36

Maintenance | Training

Question 37

Cons of off site

Answer 37

Time | Remake

Question 38

Finished lenses

Answer 38

Ready to be shaped

Question 39

Some-finished lense

Answer 39

RX can be put into the back of them

Question 40

Lens manufactureers vs optical labs

Answer 40

Manufacturer - order lens from seiko - ordering directly from the manufacturer Optical labs - order seiko lenses from another company - labs can sell many different brands you can order from

Question 41

3rd party billing service that helps you manage your accounts payable. Order tour frames, lenses, and supplies through the vendor of your choice and charge it to your buying group account. Your purchases are consolidated into one staremtn

Answer 41

Optical buying group

Question 42

Can you put every tint and coatings on lenses?

Answer 42

Not really

Question 43

ICE

Answer 43

Colorless AR

Question 44

Most common stock equipment

Answer 44

``` Pupilometer Frame warmer Manual and/or auto-lensometer Ultrasonic cleaner Digital measurement system ```

Question 45

Common larger investemnt equipment in practice

Answer 45

Retinal imaging Finish lab tint unit

Question 46

Right to know in the workplace

Answer 46

Every office has to have this posted for employee to see - good for a lab - post about chemical hazards - how to protect yourself

Question 47

FTC requirement for prescription release

Answer 47

Required to provide each patient with a copy of thei spectacle prescription upon completion of examination

Question 48

Driving requirements in KY

Answer 48

VA of 20/60 or better in at least 1 eye VF RL of 120 degrees and up/down of 25 degrees

Question 49

Undue burden rule

Answer 49

Need to provide a reasonable and affective accommodation for disabled people. Do not need to have the best and most expensive accommodation for them If the cost is more than the use. Certain percentage of yearly budget

Question 50

PHI

Answer 50

Protected health information -any information about health status, provision health care, or payment for health care that is created or collected by a covered entity, and can be linked to a specific individual

Question 51

What age does HIPAA take affect

Answer 51

18

Question 52

Most important interview questions

Answer 52

Tell me about yourself What questions do you have with for me? Make sure its related to optometry, don’t talk about hobbies and family, make sure you ask a question back

Question 53

A fixed dollar amount you pay toward a covered health expense, usually at he time of service

Answer 53

Co payment

Question 54

The receive money in repayment for money you have already sent or an expense you have already incurred

Answer 54

Reimbursement rate

Question 55

A specified amount of money that the insured must pay before an insurance company will pay a claim

Answer 55

Deductible

Question 56

How long are vision benefits good for

Answer 56

Every one year or two years

Question 57

Medicaid

Answer 57

State by state | Typically only covers children and pregnant women and there is a set reimbursement amount

Question 58

Medicare

Answer 58

- federal-regulated - cannot bill for a routine exam; it is not vision coverage, have to have a medical diagnosis - covers full health check and medical follow ups, but not refraction, refraction is a separate fee to the patient

Question 59

When can Medicare cover glasses

Answer 59

One pair after cataract surgery for up to 6 months