Article Outline
Here are some telltale signs that the time is right to look into buying new equipment.
The old adage, “if it ain't broke, don't fix it” makes plenty of sense on the surface. After all, in this economy, everyone is looking for ways to reduce costs. Yet, continually patching and taping equipment, doing whatever it takes to avoid having to pay for new technology, is very often not in the best short- or long-term interests of an optometry practice. In fact, biting the bullet to purchase updated or new equipment is almost always a good way to build the practice.
New technology can increase income and patient flow, reduce time demands on the doctor, and/or generate good publicity for the practice. It sends a message to patients and staff that the practice is doing whatever it can to bring in the latest technology for the benefit of both.
When is it time to buy new equipment? Here are some signs that may indicate the time is right:
1.More and more patients give that weak smile when they notice the knobs falling off the phoropter or the duct tape holding the keratometer together. In a world in which people are connected 24/7, where last year's personal technology is viewed like last season's fashions, patients will not think well of a business that looks and feels outdated. Even if the office has invested in some new equipment, the overall image conveyed is not a positive one. Unfortunately, the thinking is likely to be that if the practice cuts corners when it comes to the equipment, chances are that it is also scrimping on patient care. Yes, patients may not like the thought that the costs of cosmetic changes being made in the office are being passed on to them, but they certainly will feel uncomfortable being treated in 2009 by a doctor with a practice that has the look and feel of 1990.
2.The staff is starting to talk. Staff usually starts complaining to the doctor about the condition of the equipment when they begin to hear it from patients. No doctor wants staff to feel personally embarrassed by the state of the office.
3.It has become increasingly obvious that the old technology does not work as well as more recent equipment. Even the most hard core cynics eventually come to the conclusion that the equipment they still use from the first President Bush's administration does not offer the same benefits to the patient or the doctor that the latest equipment available can provide. Of course, it should never get to this point, but when it does, the handwriting is not only on the wall but is embossed in bold, capital letters.
4.Trips to other practices or trade shows leave the doctor with a bad case of technology envy. Very often it takes knowing what is being used by others or what is now available on the market to convince one to invest in new equipment. Successful people do not want to feel like they have been left in the dust by others in their profession. An impulse buy is never a good idea, but if the feeling lingers, it is probably the right move.
5.Maintaining old equipment is starting to cost money and/or equipment is becoming unreliable. Just as with an old car that breaks down on a regular basis, one that seems to spend more time in the shop than on the road, there is a time to cut losses. When purchasing new equipment, always consider the money that will be saved by avoiding the need for repairs on the old equipment—not to mention the time and convenience—as part of the equation.
6.Now is the right time for the practice to make a change. Every business needs to make changes once in awhile so as not to become stale. Not moving forward in a field that is constantly advancing is the same as moving backward. Adding new technology is an excellent way to raise staff morale, and it provides an opportunity to announce to patients the advent of new or updated equipment. Additionally, if financing new equipment is appropriate, interest rates are at record lows.
Of course, all the above reasons notwithstanding, the question arises “how am I going to pay for the new equipment?” Purchasing decisions, of course, need to be made prudently. The fact that one can afford a 40-inch flat screen does not mean a home movie theater should be purchased.
Instead, any practitioner needs to look at it in terms of “how will this technology help me increase revenues, bolster the morale of my staff and provide my patients with better care?” In this light, new equipment costs usually make good sense.
