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Practice Management Specialty Meeting 2016: Description and Presenters Bios

Practice Management Specialty Meeting 2016: Description and Presenters Bios

Friday June 17, 2016

7:30 - 8:30 AM

Registration and Breakfast with Exhibitors

8:30 - 8:45 AM

Welcome

Paul Pessis, AuD, Co-Chair

Owner North Shore Audio-Vestibular Lab

and

Ken Smith, PhD, Co-Chair

Audiologist/Operations Manager
The Hearing Center of Castro Valley

8:45 AM - 12:00 PM

Modern Marketing:
The 7 Power Strategies of Highly Successful Audiology and Hearing Aid Practice Marketing

Why are some audiology and hearing aid practice owners so successful at marketing while others are constantly disappointed in the results they are getting? The big difference isn't smarts or hard work. Marketing success is a habit, and it's knowing which strategies to adopt and which ones to relinquish.

You'll discover how to finally go from good to great with your practice marketing by using the 7 power habits to increase phone calls and appointments from new patients as well as motivating older patients to upgrade without sacrificing your brand. The brand that establishes you as the local go to expert.

Upon completion of this session, the participant will be able to
1. Recognize the need to use modern marketing strategies as well as the need to change their current strategies if they want to educate and reach new and current patients.

2. Review startling statistics of why we need to focus more resources to advertising and educating online and start combining our offline and online marketing efforts.

3. List 7 key strategies to maximize results in advertising and how to use the Internet as a virtual counseling tool that will help establish you as the local go to audiology and hearing aid expert.

Kevin St Clergy, MS

Founder, Chief Practice Development Officer MedPB

Kevin St. Clergy founded EducatedPatients.com (EP) in 2005, and, at that time, hired Charlie Cook as his marketing consultant to jump-start the new business. In 2012, they became partners to grow EP and better serve the needs of medical practice owners. In 2015, they changed the name of Educated Patients to MedPB.com (Medical Practice Builders).

Widely sought out as a speaker on audiology practice marketing, sales, and management, Kevin's workshops are often featured at audiology conferences across the country, from ADA to Academy. Kevin has a masters of audiology and was the director of business development for a network of 2,000 independently owned practices.

Kevin currently lives in Austin, the hippest town in Texas. When he's not helping audiology practices get in shape, he's getting himself in shape at the gym, on the lake and at kickboxing classes.

Participants should be aware of the following financial/non-financial relationships: Owns MedPB, LLC, which is a for-profit practice development company.

12:00 – 1:00 PM

Lunch

1:00 – 3:00 PM

Ultimately, Who Is Paying the Price?
Quality of Care at Reduced Cost

As audiologists, we are dedicated to providing stellar professional services to the patients we serve. BUT, audiology is a business and maximizing profit should be a goal of every practitioner. This session will discuss the ever-changing reimbursement landscape, including the proposed changes mandated by the passing of the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA).
The Medicare Physician Schedule will no longer stand alone as the template for reimbursement. Relevant aspects of the Merit-Based Incentive Payment System (MIPS) and its pay-for-performance components along with the value-based modifier, and Alternative Payment Models (APMs) will be outlined. A review of the collaborative relationship of the American Medical Association (AMA) and Centers for Medicare and Medicaid Services (CMS) and the process they have created for valuing CPT codes will conclude this session.
A successful facility constantly scrutinizes and contemporizes business practices and this interactive session will empower you to enact proactive change.
Upon completion of this session, the participant will be able to

  1. Describe the components of the MIPS legislation.
  2. Describe the three components that comprise the relative value unit (RVU).
  3. Describe the structuring of Alternative Payment Models.

Paul Pessis, AuD

Owner North Shore Audio-Vestibular Lab

Paul Pessis, AuD, is the owner and founder of North Shore Audio-Vestibular Lab in Highland Park, IL. He lectures nationwide addressing coding, reimbursement, and business management protocols. He is an instructor at Northwestern and Rush Universities in Chicago. He is a past president of the American Academy of Audiology and currently serves as a board member for ACAE, the only accrediting body solely accrediting audiology programs. He is the Academy representative at the AMA RUC, which is the forum that values procedural codes. He has twice been honored with the Presidential Award from Academy. The Illinois Audiology organization, has also recognized his many contributions to the profession of audiology and has granted him the Honors of the Association Award and the Presidential Award.
Participants should be aware of the following financial/non-financial relationships: No relevant financial/ non-financial relationships.

3:00 – 3:15 PM

Break

3:15 – 5:15 PM

Financial Management of the Private Practice

This session will explore advanced concepts related to financial management of audiology practices. It will cover topics including cash flow management, budgeting, investing (both back into the business as well as on behalf of the owner individually), and preparing for a transition to a new owner.

Participants will learn about key financial ratios that indicate the financial health of a practice, and gain an understanding of how to assess the financial health of their own practice. From there, the presentation will explore the concept of cash flow from numerous perspectives: the prospective practice buyer, the new owner, the growing practice, and the mature owner heading toward retirement. Finally, the presentation will conclude with a discussion of exit planning, with a specific emphasis on how owners can build wealth both within and outside of their practices.
Upon completion of this session, the participant will be able to
1. Assess the financial health of their practice.
2. Effectively manage cash flow and investing activities.
3. Make financial decisions to prepare the practice for an eventual transition to new ownership and the owner for a transition to retirement.

Craig Castelli

CEO Caber Hill Advisors

Craig Castelli is the founder and CEO of Caber Hill Advisors. He launched Caber Hill in 2014 to solve a problem plaguing millions of business owners—a lack of qualified, experienced advisory firms willing to serve small and middle market companies.

Caber Hill's innovative approach combines the best elements of the local business brokerage community and the large, very expensive investment banks. Further, Castelli and his team have all previously worked in the markets they now serve. The result is that clients receive individualized attention and expert guidance specific to their industries.

Castelli has spent his entire career working in the audiology industry, and has advised hundreds of private practices in this time.
Participants should be aware of the following financial/non-financial relationships: CEO of Caber Hill Advisors.

Saturday, June 18, 2016

7:30 to 8:30 AM

Registration and Breakfast with Exhibitors

8:30 – 10:00 AM

Panel Discussion: PSAPs

PSAPs (personal sound amplification products) are a topic of both interest and conversation among audiologists. This is especially true of those of us in private practice, where we wonder if this technology will affect the manner in which we treat hearing loss. This session looks at the state of the PSAP development with representatives from interested hearing aid manufactures PSAP provider(s), with historical and regulatory information. The round table will be followed by small group discussions of the role of PSAPs, with a summary of that discussion to close the session.
Upon completion of this session, the participant will be able to

  1. List the regulatory issues associated with PSAPs.
  2. Develop opinion or position relative to the use of PSAPs in private practice.
  3. Describe the different types of PSAPs on or coming to market.
  4. Obtain PSAPs to use in private practice, if appropriate and desired.

Ken Smith, PhD, moderator

Audiologist/Operations Manager The Hearing Center of Castro Valley

Kenneth E. Smith, PhD, has been in private practice for more than 30 years, is a past president of the Academy of Dispensing Audiologists and is active in new technology and techniques for effective patient care. Following sale of his practice in Kansas City in 2008, he is Operations Manager and Audiologist at the Hearing Center of Castro Valley in California.
Participants should be aware of the following financial/non-financial relationships: No relevant financial/ non-financial relationships.

10:00 – 10:15 AM

Break

10:15 – 11:45 AM

Panel Discussion: New Technologies

New technology is constantly being developed by hearing aid manufacturers, as they continue to improve the manner in which hearing loss is treated. This is NOT a session on new products that are coming to market, but rather manufacturers' description of new technology concepts that will affect the development of new hearing aids. This session is a round table where different manufacturers will present technological developments that are in the public domain. The round table will be followed by small group discussions of what 'ideal' technology would be.
Upon completion of this session, the participant will be able to

  1. Describe new technology developments by manufacturers that will be available in the near future.
  2. Describe the application of new technology to management of patients in private practice.
  3. Identify new technology developments from different manufacturers.
  4. Discuss what is needed in new technology.

Ken Smith, PhD, moderator

Audiologist/Operations Manager
The Hearing Center of Castro Valley

Kenneth E. Smith, PhD, has been in private practice for more than 30 years, is a past president of the Academy of Dispensing Audiologists and is active in new technology and techniques for effective patient care. Following sale of his practice in Kansas City in 2008, he is Operations Manager and Audiologist at the Hearing Center of Castro Valley in California.
Participants should be aware of the following financial/ non-financial relationships: No relevant financial/ non-financial relationships.

11:45 AM – 12:00 PM

Wrap-Up