COVID-19 Guidance for Optometrists

“This is certainly a stressful time for all of us and making important decisions day to day can wear you down! I’m grateful that we have the Cleinman family in our corner to help us through this mess.”

– Scott Tomasino, O.D., Tomasino Goerss Vision Source, O’Fallon, MO.

Guidance for Your Business.

FOR YOUR BUSINESS

  • View the InVision & Cleinman Performance Partners webinar, Corona Town Hall: Seeing our way through the crisis. You can view the PowerPoint slides here: Corona Town Hall PowerPoint Slides
  • AOA Webinar recording of their COVID-19 Resources Webinar II (March 21, 2020) – What doctors of optometry need to know about just-enacted Federal Crisis Relief Legislation, including details on CARES, loans, leave and more.
  • The AOA’s Guide to Telehealth during COVID-19. and State-by-state telehealth updates. The AOA’s Webinar Recording on COVID-19 and Medicare Telehealth Services, March 2020: AOA Advocacy Webinars.
  • The CARES Act: Keep Workers Paid and Employed ACT.
  • Occupational Health and Safety Administration – COVID-19 Regulations.
  • Brainstorm cost-reduction ideas with your team.
  • Reduce “nice to have” but reducible expenses such as “muzak,” landscaping services and anything that can be handled by you or your team.
  • Cancel any frame orders not yet received.  Sell down inventory but keep shelves full.  Eliminate display space if necessary.
  • Offer Gift Certificates to your patients with an on-line promotion (avoid discounting), but “buy now and support a local charity” can be effective.
  • Call your insurance agent to understand your coverages during times of business interruption. Any potential coverage will depend on your specific policy.
  • Ask your vendors to accept delayed payments (but remember, they’re hurting, too).
  • Ask your landlord to defer rent (but remember, they’re hurting, too).
  • Make minimum payments necessary; avoid the temptation to accelerate debt reduction out of uncertainty for the future.
  • Preserve cash; use credit cards… wisely.
  • Tap your line of credit now and/or extend your line of credit. There’s no assurance that your line will be available later.
  • Put immediate energy on collecting your Accounts Receivables.
  • Collect all vendor rebates and co-op monies.
  • Chat with your banker about delaying loan payments without penalty (banks have plenty of money and access at zero interest).
  • Research available resources from your city, county, state, and chamber of commerce to investigate business interruption/disaster relief loans.  Watch the AOA site for updates on federal emergency lending.
  • Imagine the first day back in your practice (at full capacity). What do you and your team need to do now to prepare?
  • Getting Back to (the new) Normal