PHSI Hearing Programs in Ophthalmology

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Learn how Physician Hearing Services, Inc. (PHSI) can help your practice offer hearing services to your patients.

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PHSI Hearing Programs in Ophthalmology

  1. 2. Goals For Today <ul><li>The Basic Message </li></ul><ul><li>The Essential Facts </li></ul><ul><li>The PHSI Program and Why It Works </li></ul><ul><li>The Natural Fit in Ophthalmology </li></ul><ul><li>How It Works </li></ul><ul><li>The Value Proposition – What’s In It For You? </li></ul><ul><li>Next Steps </li></ul>
  2. 3. The Message <ul><li>Eyes and Ears – Vision and Hearing </li></ul><ul><ul><li>These are your two most important senses. </li></ul></ul><ul><ul><li>Together, they create your “internal GPS”. </li></ul></ul><ul><ul><li>Both are fundamental to your awareness and functionality. </li></ul></ul><ul><ul><li>Both fail at the same time. </li></ul></ul><ul><ul><li>We treat both. </li></ul></ul><ul><li>“ Vision and Hearing are so important together that we now include a complete hearing evaluation as part of the package of care we provide.” </li></ul><ul><li>This philosophical embrace is critical . </li></ul>
  3. 4. Essential Facts <ul><li>50%+ of the over-60 population has “significant measurable hearing loss”. </li></ul><ul><ul><li>Defined as hearing loss of >35dB in both ears </li></ul></ul><ul><li>80%+ have never been tested or treated. </li></ul><ul><li>90% of all cases of hearing loss are irreversible and irreparable. </li></ul><ul><ul><li>The cochlea is simply dying from age and noise exposure. </li></ul></ul><ul><ul><li>No applicable medical/surgical intervention. </li></ul></ul><ul><ul><li>Hearing aids are the only effective treatment. </li></ul></ul><ul><li>Arthritis, hypertension and hearing loss are the three most common chronic medical conditions in the world. </li></ul>
  4. 5. Essential Facts <ul><li>Untreated hearing loss is definitively linked to: </li></ul><ul><ul><li>Clinical depression </li></ul></ul><ul><ul><li>Acceleration of the onset of dementia and Alzheimer’s symptoms </li></ul></ul><ul><ul><li>Social isolation, fear and various phobias </li></ul></ul><ul><ul><li>Anger management and numerous psychosocial and relationship difficulties </li></ul></ul><ul><ul><li>Employability and earning power </li></ul></ul><ul><ul><li>“ A profoundly negative effect on virtually every aspect of physical, cognitive, behavioral and social functioning” </li></ul></ul><ul><li>From “The Consequences of Untreated Hearing Loss in Older Persons” </li></ul><ul><li>National Council on Aging (NCOA) – December 1999 </li></ul>
  5. 6. Essential Facts <ul><li>From Johns Hopkins – 2008 </li></ul><ul><ul><li>>55 million Americans with hearing loss </li></ul></ul><ul><ul><li>(This is nearly double the estimate of 30MM less than a decade ago.) </li></ul></ul><ul><ul><li>An epidemic of hearing loss </li></ul></ul><ul><ul><li>High occurrences in the 20-year old, 30-year old and baby boomer age brackets </li></ul></ul><ul><li>Translation: </li></ul><ul><ul><li>The problem is pervasive. </li></ul></ul><ul><ul><li>It is debilitating. </li></ul></ul><ul><ul><li>The population is inexhaustible. </li></ul></ul>
  6. 7. <ul><li>80% of Patients with Hearing Loss are </li></ul><ul><li>Undiagnosed and Untreated! </li></ul><ul><li>What If 80% of Cataract Patients </li></ul><ul><li>Were Undiagnosed and Untreated? </li></ul>Hearing Loss
  7. 8. Hearing Loss <ul><li>CATARACT PATIENTS CAN’T SEE THE FIRE ENGINE! </li></ul><ul><li>HEARING LOSS PATIENTS CAN’T HEAR THE FIRE ENGINE! </li></ul>
  8. 9. Dual Sensory Loss
  9. 10. Why Ophthalmology? <ul><li>The patient populations are identical. </li></ul><ul><li>25 years of research determined that : PATIENTS WANT TO BE EVALUATED AND TREATED FOR HEARING LOSS IN THEIR PHYSICIAN’S OFFICE . </li></ul><ul><li>There is a graphic disconnect between what patients WANT and what they GET. </li></ul><ul><ul><li>95% of hearing aids are dispensed in a retail storefront setting with no physician participating in the process. </li></ul></ul>
  10. 11. Why Ophthalmology? <ul><li>Primary Care? </li></ul><ul><ul><li>Too many, too fragmented, too broadly focused. </li></ul></ul><ul><li>ENT? </li></ul><ul><ul><li>Too few, surgically oriented, perpetually at war with audiology. </li></ul></ul><ul><ul><li>Most importantly, there is NO natural flow of senior patients to ENT. </li></ul></ul><ul><li>Ophthalmology? </li></ul><ul><ul><li>High-concentration site for older patients. </li></ul></ul><ul><ul><li>The Vision-Hearing link ---Parallel deficits, parallel treatment. </li></ul></ul><ul><ul><li>Unique orientation to retail. </li></ul></ul>
  11. 12. The PHSI Program <ul><li>Equipment </li></ul><ul><li>Personnel </li></ul><ul><li>Full hearing aid product line </li></ul><ul><li>Complete pre-launch guidance </li></ul><ul><li>Initial training for physicians and all staff </li></ul><ul><li>Unlimited ongoing consultation </li></ul><ul><li>“ Best Practices” and “Benchmarking” </li></ul><ul><li>Expertise – We know how to do this </li></ul><ul><li>100% practice ownership and control </li></ul>
  12. 13. How It Works <ul><li>4 Simple Words… </li></ul><ul><ul><li>Market </li></ul></ul><ul><ul><li>Screen </li></ul></ul><ul><ul><li>Refer </li></ul></ul><ul><ul><li>Fit </li></ul></ul>
  13. 14. How It Works <ul><li>Market – Management Role </li></ul><ul><ul><li>Patients must know you have a hearing program via wall media, electronic media, print media --- the message must be there --- it must permeate. </li></ul></ul><ul><li>Screen – Staff Role </li></ul><ul><ul><li>Simple methods for identifying patients with classic symptoms of hearing loss. </li></ul></ul><ul><ul><li>4 tone hand-held screener to provide objective PASS/FAIL report. </li></ul></ul>
  14. 15. How It Works <ul><li>Refer – Physician Role </li></ul><ul><ul><li>A 30-second interaction between physician and patient is the magic of the program. </li></ul></ul><ul><ul><li>You will NOT need to sell hearing aids! </li></ul></ul><ul><ul><li>You do not have to be the hearing expert. </li></ul></ul><ul><ul><li>You do need to be a referral expert. </li></ul></ul><ul><ul><li>The MD/OD handoff is critical. </li></ul></ul>
  15. 16. How It Works <ul><li>Fit – Hearing Professional Role </li></ul><ul><ul><li>Testing </li></ul></ul><ul><ul><li>Counseling </li></ul></ul><ul><ul><li>Selling </li></ul></ul><ul><ul><li>Fitting </li></ul></ul><ul><ul><li>Providing continuing care </li></ul></ul><ul><ul><li>Referring as necessary </li></ul></ul><ul><ul><li>Repairing </li></ul></ul><ul><ul><li>Complete program management </li></ul></ul>
  16. 17. The Value Proposition <ul><li>Proven expertise. </li></ul><ul><li>An “out-of-the-box” program. </li></ul><ul><li>Zero management or consulting fees. </li></ul><ul><ul><li>PHSI’s success is tied directly to your success. </li></ul></ul><ul><ul><li>Long term supplier contract for hearing aids. </li></ul></ul><ul><li>Substantial revenue and profit potential. </li></ul><ul><li>A broader clinical base for your patients. </li></ul><ul><li>Improved patient care and loyalty. </li></ul>
  17. 18. What’s in it for you? Number of Tests per Day 4 Total Test/Year 1000 Conversion Rate 0.35 Patients Sold 350 Hearing Aids 665 Average Sale Price per Hearing Aid 1850 Gross Revenue $1,230,250 Refunds $123,250 Net Revenue $1,107,000 Direct Costs - COGS ($387,450) Net Revenue $719,550 Operating Expenses   Consumable Expenses $5,000 Marketing Expense $10,000 Personnel & Benefits Expense $57,500 Sales Incentives - HIS $50,368 Total Operating Expenses $122,868 Net Income $596,682
  18. 19. Start-Up Costs <ul><li>Testing Equipment $19,000 </li></ul><ul><li>Recruiting Fee 7,500 </li></ul><ul><li>Supplies 2,500 </li></ul><ul><li>Initial Internal Marketing Materials 2,500 </li></ul><ul><li>Dispenser Travel 1,000 </li></ul><ul><li>TOTAL $32,500 </li></ul>
  19. 20. Space Requirement <ul><li>One room = average exam lane </li></ul><ul><li>Where applicable, one small testing space </li></ul><ul><li>One countertop workspace for cleaning and minor servicing of hearing aids </li></ul>
  20. 21. Next Steps <ul><li>Sign a contract </li></ul><ul><li>Engage the recruitment process </li></ul><ul><li>Develop basic forms and workflow </li></ul><ul><li>Purchase testing equipment and supplies </li></ul><ul><li>Set up the program space </li></ul><ul><li>Orient the hearing professional </li></ul><ul><li>Train the physicians and staff </li></ul><ul><li>Go! </li></ul>
  21. 22. Summary <ul><li>PHSI works with the most progressive ophthalmology practices in the nation, both large and small. </li></ul><ul><li>The patients are there. They have the problem. The linkage between Vision and Hearing is real. </li></ul><ul><li>We know how to do it. </li></ul><ul><ul><li>Our expertise in the concept of hearing care in Ophthalmology is unparalleled . </li></ul></ul>

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