TSO Network Update - September 2017

2 l September 2017 Network News TSO Network Core Values What forms the bond between us as a group of independent practices is the voluntary commitment to a set of core values. By embracing and conducting ourselves in this manner, we set ourselves apart as an example in our industry. Visionary Spirit The belief that there are no challenges but rather opportunities. Invested in Relationships Providing quality eyecare depends on building and nurturing relationships with our patients, our colleagues and our profession. Dedicated Professionals We demonstrate respect for our patients and profession by the manner in which we conduct ourselves and the effort made improving our skills and abilities. Leadership Through Service We believe leadership is earned through service to others, service to our associates, our Network members and our professional and civic communities. After the Storm (continued) 7. Hire your employees to help with the cleanup. Your insurance company usually pays for cleanup workers. This keeps your employees working while you are out of business thus giving them paychecks and showing that your care about them. They will be less likely to go looking for another job during this time. 8. Most insurance policies pay for records recovery. If you were not a “paperless” office, now is the time to consider becoming one. Insurance usually covers the purchase of equipment to copy your damaged records and the paper to print them on. Due to mold and other health hazards most of your records will be permanently lost if not copied quickly. Consider using the insurance money to buy a high speed, two-sided copier that can directly copy your records into an electronic record. You can “hire” your employees to do this during the recovery process and it is a reimbursable expense. It is a lot easier to take a computer hard drive with you in an emergency than walls of paper records. 9. If you need to evacuate the building, go to a convenient post office and get a post office box, make out a temporary change of address card. You want the least disruption to your business as possible. Suppliers will not be happy if they get bills returned with no forwarding address and you will need their good will as you rebuild. Have staff call your major vendors and see if they won’t extend your billing out until you are back in business and hold any orders that may be ready to ship. 10. Ask your insurance agent - How much water damage does your policy cover? Does it only cover rain damage or does it include flooding? Do you have a specific flood insurance rider on your policy? Does your policy have ‘gap’ insurance to cover your business expenses while you are rebuilding? Does your policy cover replacement value of equipment and furnishing or only the depreciated book value? Does your insurance cover setting up a temporary place of business? Not very many do. 11. If you lease space, you may be addressing questions from your landlord’s insurance company in addition to your own. As a renter you should have your own policy that covers the interior of the building plus all of your tenant improvements, your equipment and furnishings, records, etc. However, a portion of this policy is directly payable to your landlord - not you - for structural reconstruction and your tenant improvements. You will have to work closely with your landlord to get things done. And if the owner decides not to rebuild a large portion of the buildout funds will be lost to you. 12. Call your local society president, your state organization and the AOA. They are probably organizing relief efforts.

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