CAOS Aperture Writing Contest Winner

An initiative proudly sponsored by NextGenOD and Eye Care Business Canada, The Canadian Association of Optometry Students (CAOS) has revealed the winners of the APERTURE 2022-23 Writing Contest. Selection was conducted via an anonymous voting system by the CAOS communications directors and approval from the CAOS executive team at the University of Waterloo.  We’re delighted to highlight the first-place essay, “Lessons from a Superfield Lens,” penned by then 4th-year student Jenny Lee. Her engaging piece features an imaginative dialogue with optometric instruments, exploring the symbiotic relationship between technology and human skill in the field of optometry.


If you had told me a few years ago I would be replaced by what they call an “auto-phoropter”, I would have derisively slotted some headache-inducing Risley prisms in front of your eyes.

I mean, how ridiculous does that sound? An auto-phoropter? I’ve stood the test of time and I get the job done. When people think optometry, they think of me. The classic, satisfying feeling of each click as the doctor asks “one, or two?” is nowhere nearly as rewarding as the lack of tactile feedback from an adjustment on a screen.

Here I am, watching as my prized spot in the clinic is overtaken by that new, glossy, shiny… thing.

I tried not to sulk, I really did. I kept quiet, stopped myself from unlocking my grip on the stand so I could swing angrily into students’ heads as they tried to grab the stand light beside me. To be fair, Mr. “high-and-almighty” slit lamp glared daggers at me (without even a diffuse filter on, the nerve!) for me to finally cave in, but I won’t tell them that.

Weren’t the students worried about being replaced by technology? I’d certainly never do that to them. I panicked on weekends, wondering when it would be the last time my covering was removed before being shipped off elsewhere.

It had been an especially rough week when I overheard whispers from the clinic supervisor that I was to be replaced with the school’s new auto-phoropters. It felt like a death sentence, like standing on the edge of the precipice between comfort and complacency versus the melancholy realization of no longer having a purpose.

As luck would have it, though, a third-year had left their fundus lens on the slit lamp table overnight, temporarily forgotten.

“What is it like, knowing that you might be replaced by a new-age OCT or camera someday?” I asked in my desperation for some company.

“Replaced? What do you mean?” it replied.

“Well, sure, you give stereo vision now, but fundus cameras with stereo features already exist in this clinic,” I remarked. “It’s only a matter of time, isn’t it?”

If it were possible for a lens to chuckle, it did. “I’m not getting replaced anytime soon. And even then, when I came out, everyone thought I would replace my predecessor, the 90D. Ultra super wide field views can’t be compared! They said. But really, we each serve our own purpose. I give the wide views, and 90D helps with undilated patients.

They can come out with all the fancy technology they want, but at the end of the day we’re all just different tools in a toolbox, each with our own use and purpose.”

It was at that moment I chose to be vulnerable. “I’m worried about being replaced, though,” I admitted. “Once they roll in those new auto-phoropters, I’m done for.”

“I wouldn’t be so sure,” the lens replied.

And so here I am, the moment finally here – watching as a new era of change sweeps its way into preclinic, changing the course of education for a new batch of students. I brace myself for the moment I’ve been waiting for this whole time. Except it never comes.

When I’m next uncovered, I recognize the familiar surroundings of the school’s newer preclinic rooms. A furtive tilt to my right reveals a paper taped onto the clinic wall – Binocular Vision Lab – Vergence Testing.

It seems like the Superfield lens was right. In my grievances over the idea of a new phoropter being present, I’d forgotten that things never truly get replaced – just like how the Goldmann tonometer fretted over the new iCare probe and ended up sticking around anyway.

So when I next saw an auto-phoropter getting carted in past me, I didn’t worry. Like me, it has a place.

Jenny Lee, OD

JENNY LEE, OD

Vision Science Assistant Editor, CRO Journal

Jenny Lee is an onboarding resident with the University of Waterloo School of Optometry and Vision Science.

She is a recent 2023 graduate and is passionate about pediatrics and vision therapy.


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Dr. Nieka Sabeti, OD
Dr. Nieka Sabeti, OD

“As a practising optometrist, I see what an impact myopia has to my patients’ lives, not just as a refractive error, but more so as a sight-threatening condition that can ultimately impact quality of life.”

Dr. Nieka Sabeti, OD, independent consultant of the clinical support team at Specsavers Canada, discusses how myopia management care was introduced at Specsavers by optometrists, opticians and their store teams.

 

Why did clinic owners feel it was important to introduce myopia management into their practice?

Myopia currently affects approximately 30% of the world’s population1. The World Health Organization and other international health bodies have declared it a global public health concern because of its potential to become the most common cause of irreversible visual impairment and blindness worldwide, with approximately half of the global population predicted to have myopia by the year 20502. Addressing the growing prevalence, the Specsavers network of optometrists is working together to make a greater impact on community eye health.

Given that myopia progresses mainly during childhood, there is a key window to intervene with preventative strategies, when the eye is more susceptible to growth and subsequent vision changes. This can reduce the risk of a patient developing sight-threatening conditions later in life due to the structural changes of the eye.

How did Specsavers support the development of a myopia management program for optometrists?

The optometrists within the Specsavers network raised an interest in introducing myopia management into their practice. Specsavers recognizes its importance as a standard of care in Canada and other regions, so we engaged and consulted our Optometry Steering Groups, a committee of independent optometrists in each province, on developing a training program and the option to introduce it to their practice.

My role was to work alongside an incredibly talented group, spearheaded by the clinical team, at the support office that were dedicated to this mission and bringing this program to life. After trials in several locations within BC, we were able to take learnings and successes to develop our official launch plan.

We also partnered with industry leaders to offer an accreditation course to allow optometrists, opticians and their teams to receive comprehensive training to provide myopia management care and products and to go through case studies to prepare them for various patient scenarios.

 

 Specsavers Dr. and patient

What are you hearing from clinic owners since starting the program?

So far, we’ve received very positive feedback on the accreditation, training, support, and overall approach for the program. Many eyecare professionals who may have already been accredited have commented on the extensive training that is provided through our program at Specsavers. So, they appreciate how comprehensive it is as it builds more confidence around this practice area.

When everyone is offered comprehensive training, it results in a more accurate, consistent, and unified approach at all points of the patient journey. Many of the teams have already reported impressive numbers of patients receiving this care.

Being able to provide tools and resources that can help empower eyecare professionals to become active participants in getting ahead of the curve to change the predicted trajectory of myopia brings me so much joy. Together we’re helping to make an impact in changing lives through better sight – not just in the short-term, but also in the future.

  1. Holden BA, Wilson DA, Jong M, Sankaridurg P, Fricke TR, Smith EL III, Resnikoff S. Myopia: a growing global problem with sight-threatening complications. Community Eye Health. 2015;28(90):35. PMID: 26692649; PMCID: PMC4675264.
  2. Nouraeinejad A. More Than Fifty Percent of the World Population Will Be Myopic by 2050. Beyoglu Eye J. 2021 Dec 17;6(4):255-256. doi: 10.14744/bej.2021.27146. PMID: 35059569; PMCID: PMC8759558.2. Holden BA, et al. Global Prevalence of Myopia and High Myopia and Temporal Trends from 2000 through 2050. Ophthalmology, 2016. 123(5): p. 1036-42.

 

 

 


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Passive vs. Active Investments

There has been a lot of talk in the past couple of years around a movement to passive investing and an explosion of exchange traded funds (ETFs). But what does it all mean?

What is Passive Investing?

Passive investing, also known as index investing, aims to replicate the performance of a specific market index (e.g., S&P 500) rather than attempting to beat the market. The core belief is that markets are generally efficient, and it’s challenging for active investors to consistently outperform them. As a result, a number of ETFs have been created for various companies to get a piece of this action.

 What is Active Investing?

Active investing involves actively selecting and managing investments with the goal of outperforming a specific benchmark or the overall market. Active investing can include anyone who picks their own stocks on a self directed platform to professional portfolio managers who are a Chartered Financial Analyst (CFA) and/or Chartered Investment Manager (CIM).

Why Hire a Professional Portfolio Manager?

A professional portfolio manager brings a level of expertise to selecting the investments you will hold for your wealth creation. A great manager will not only understand the cyclical nature of the markets, but will also understand the businesses that they add to the portfolio.

Portfolio Managers are NOT Created Equally

Everyone brings with them a different skill set and outlook. Watching the market price vary is not enough to make someone a great portfolio manager. Having someone who understands you, your goals, and the various parts of your portfolio will help to ensure that you are diversified sufficiently to take advantage of the opportunities that lie before you. A great portfolio manager looks not only at the upside, but also works to ensure you are protected on the downside.

What About Cost?

Generally speaking, passive investing fees will be less costly than active investing. However, there is also a cost with every decision. If you sell at the wrong time – that can be very expensive. If you buy at the wrong price – that can cost substantially over the long run. Market price matters on entry and exit.

Studies show that working with an advisor long term increases your wealth 2.3 to 2.7X. That’s a value add for a very small percentage cost difference.

Price is what you pay, value is what you get. Don’t confuse the two.

Why Do I Like Active Investing?

I’ve had all kinds of investment advisors in the past but until I found portfolio managers that communicated directly with me in plain language, I never really knew what was going on. I was paying a lot of trading fees and trusting they were working on my behalf.

Today, I have portfolio managers that I trust not only with my money, but the money of my clients as well. That says a lot. I trust their process, understand their decisions, and ultimately can sleep well every night.

Time and health are non-renewable commodities – and having a process in place that takes care of my marketable assets by owning the best and leaving the rest does just that.

Advisory
As your Chief Financial Officer, I am here to help guide you through the various areas of wealth creation. Helping you understand your money and assisting you in making smart financial decisions about your debt repayment, insurance protection, tax management and wealth, are just some of the ways that I work as your fiduciary.

Have more questions than answers? Educating you is just one piece of being your personal CFO that we do. Call (780-261-3098) or email (Roxanne@C3wealthadvisors.ca) today to set up your next conversation with us.

Roxanne Arnal is a former Optometrist, Professional Corporation President, and practice owner. Today she is on a mission of Empowering You & Your Wealth with Clarity, Confidence & Control.

These articles are for information purposes only and are not a replacement for personal financial planning. Everyone’s circumstances and needs are different. Errors and Omissions exempt.

ROXANNE ARNAL,

Optometrist and Certified Financial Planner

Roxanne Arnal graduated from UW School of Optometry in 1995 and is a past-president of the Alberta Association of Optometrists (AAO) and the Canadian Association of Optometry Students (CAOS).  She subsequently built a thriving optometric practice in rural Alberta.

Roxanne took the decision in  2012 to leave optometry and become a financial planning professional.  She now focuses on providing services to Optometrists with a plan to parlay her unique expertise to help optometric practices and their families across the country meet their goals through astute financial planning and decision making.

Roxanne splits EWO podcast hosting duties with Dr. Glen Chiasson.


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In today’s workplace, building strong and positive relationships with coworkers is crucial for personal and professional success. It not only enhances job satisfaction but also promotes collaboration, productivity, and overall well-being. One of the key skills that can greatly contribute to effective relationship management is emotional intelligence.

Emotional intelligence, often referred to as EQ, is the ability to identify, understand, and manage our own emotions, as well as recognize and empathize with the emotions of others. By using emotional intelligence skills, individuals can navigate workplace relationships with empathy, adaptability, and effective communication. In this article, we will explore the importance of emotional intelligence in relationship management and provide practical strategies to enhance your EQ skills.

Why Emotional Intelligence Matters in the Workplace

 Effective relationship management is at the core of a healthy and thriving work environment. When you possess high emotional intelligence, you are better equipped to handle conflicts, manage stress, and foster positive connections with your coworkers. Without EQ your workplace will lack the important skills needing to create strong relationships with coworkers and in turn your patients. It will become an environment that could foster resentment, loneliness, and hostility.

Actively using EQ matters, because if we don’t make the conscious effort to use it we will default to protective behaviours in an environment that doesn’t require them. No one is fighting off lions, tigers, and bears in your workplace (hopefully) so why are we allowing our brains to respond in that way?

It’s vital to work on developing new default behaviours that encompass relationship management to maintain a constructive, happy and inclusive environment. We can only perform to the level we are taught, now let’s learn about relationship management!

Developing Emotional Intelligence for Relationship Management

walking up stairs

Now that you understand the importance of emotional intelligence in relationship management, let’s explore some strategies to develop and enhance our EQ skills. By incorporating these practices into your daily interactions, you can cultivate stronger and more meaningful connections with your coworkers:

  1. Self-Awareness

Self-awareness is the foundation of emotional intelligence. Take the time to reflect on your own emotions, triggers, and communication style. Recognize your strengths and areas for improvement. By understanding yourself better, you can become more mindful of how your emotions affect your actions and in turn, impact others.

  1. Active and Empathetic Listening

Active listening is a crucial skill for effective communication and relationship building. Practice truly listening to others without interrupting or formulating responses in your mind. Pay attention to both verbal and non-verbal cues, and show genuine interest and empathy in what others are saying and feeling.

  1. Empathy and Perspective-Taking

Empathy is the ability to understand and share the feelings of others. Put yourself in their shoes and try to understand their perspective. It is important you let go of your own perspective on the matter at hand when doing this. It will help you respond with compassion and make others feel valued and understood.

  1. Emotional Regulation

Managing your own emotions is essential for building positive relationships. Take steps to regulate your emotions by practicing stress management techniques, such as body calming and wide perspective taking. By staying calm and composed, you can respond to challenging situations in a more constructive manner.

  1. Conflict Resolution Skills

Conflict is a natural part of relationships, but emotional intelligence can help navigate conflicts effectively. Focus on finding common ground, listening to others’ perspectives, and seeking mutually beneficial solutions. Avoid blame and defensiveness, and instead, approach conflicts with empathy and a willingness to find the win, win.

  1. Building Trust

Trust is the foundation of strong relationships. Be reliable, honest, and transparent in your interactions. Follow through on your commitments and demonstrate integrity in your actions. By building trust with your coworkers, you create a safe and supportive environment where collaboration thrives.

  1. Recognizing and Celebrating Successes

Acknowledge and appreciate the accomplishments of your coworkers. Celebrate their successes and provide positive feedback. By recognizing the contributions of others, you create a culture of support and encouragement, fostering stronger relationships within the team. When you celebrate the successes of your coworkers it’s like you are making a small relationship deposit into their “Relationship Bank Account”. As these add up over time you will see the relationships you have become very strong and secure.

  1. Continuous Learning and Improvement

Emotional intelligence is a skill that can be developed and improved over time. Seek opportunities for growth, such as attending workshops, virtual trainings, listening to podcasts, or reading books on emotional intelligence. Reflect on your interactions and identify areas for improvement. By continuously learning and striving to enhance your EQ skills, you can become a more effective relationship manager.

Take this with you

Emotional intelligence plays a vital role in relationship management in the workplace. By cultivating and honing your EQ skills, you can navigate conflicts, communicate effectively, and build strong and positive connections with your coworkers. Remember, emotional intelligence is a lifelong journey of self-awareness and continuous learning. By incorporating the strategies mentioned in this article, you can enhance your relationship management skills and create a more harmonious and fulfilling work environment for not only others but yourself as well.

It’s never too late to start learning, just take it one step at a time.

 

Jade Bodzasy

Jade Bodzasy

Jade Bodzasy, Founder of Emotional Intelligence Consulting Inc., is a dedicated Coach and Consultant for Optometric Practices. Her extensive background includes over 20,000 hours of expertise focused on customer relations, work structure refinement, training method development, and fostering improved work culture within Optometric practices.

Certified in Rational Emotive Behavior Techniques (REBT), Jade possesses a unique skillset that empowers individuals to gain profound insights into the origins of their behaviors, as well as those of others. Leveraging her certification, she equips optometry practices with invaluable resources and expert guidance to establish and sustain a positive, healthful, and productive work environment.


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Emotional Intelligence

Last issue we introduced new contributor, Jade Bodzasy, Founder of Emotional Intelligence Consulting Inc. Her first article introduced us to two of the three pillars of Emotional Intelligence: Self-Awareness and Self-Management.

Today she discusses the third and fourth pillars of EI and their application to patients and how practice owners and their staff can further develop EI skills.  

 

Social awareness is the third pillar of emotional intelligence.
It involves the ability to understand and empathize with the emotions, perspectives, and needs of others. In the eyecare field, social awareness is crucial for building strong relationships with patients and understanding their unique circumstances. Eyecare professionals with high social awareness can pick up on subtle emotional cues, listen actively, and respond with empathy.

Remember, Empathy is the ability to sense other people’s emotions and the skill to imagine what someone else might be thinking or feeling without placing your own experiences, biases, or opinions on what they are going through.

It is all about THEM!
Empathetic listening is a key skill in social awareness. By truly understanding how a patient feels about their state of eye health, eyecare professionals can gain a deeper knowledge of their concerns, fears, and needs.

This requires active engagement, non-verbal cues, and open-ended questions that encourage patients to share their experiences. When eyecare professionals demonstrate empathy and understanding, patients feel heard and valued, leading to greater trust and patients that are invested in your clinic.

Patients will commit to you, because you have a clear interest in their well-being beyond the clinical aspects of their care.

With Social Awareness in your toolbox you can start on the final pillar: Relationship management
Relationship management involves effectively managing interpersonal interactions and building positive relationships. In eyecare, strong relationships between you and patients are essential for successful treatment outcomes. By employing relationship management skills, you can foster trust, collaboration, and open communication with patients.

Listening SkillsOne important aspect of relationship management is the ability to create a feeling of comfort within your patients. When you can make a patient feel comfortable they will offer more information to you so that you can provide them with the best options for their care plan. We have to be diligent with reading the cues and listening to what patients are telling us in order to master our relationships with them.

Not everyone enters the clinic ready to manage their relationship with their eyecare professionals. Some have had a very difficult day and this is the last thing they want to be doing. By taking on the responsibility of the relationship between yourself and the patient, you increase the odds that they will have an amazing experience during their appointment.

How can I further my development of Emotional Intelligence?
 Developing emotional intelligence is an ongoing process that requires self-reflection, practice, and continuous learning. Seek out support to develop emotional intelligence in yourself and  professionals through training and education programs that Emotional Intelligence Consulting Inc has. These programs are designed specifically for eyecare professionals with the knowledge and skills necessary to enhance their self-awareness, self-management, social awareness, and relationship management skills.

Online learning EI SkillsTo improve self-awareness and self-management, you can engage in reflective practices such as journaling, awareness exercises, and self-assessment tools on your own. These activities help them become more aware of your own emotions, triggers, and biases, allowing you to regulate your emotions effectively. Additionally, seeking feedback from an EI professional will give you valuable insights into areas for growth and improvement.

Promoting social awareness and relationship management skills can be achieved through role-playing exercises, communication workshops, and team-building activities which are all great options for a productive team meeting. These activities allow you to practice active listening, empathy, and conflict resolution in a safe and supportive environment. By honing these skills, you can build strong relationships with patients and collaborate effectively as part of an Eyecare team.

Take this with you
Emotional intelligence is a powerful tool for eyecare professionals in managing patient experiences and building strong patient relationships. By developing self-awareness, self-management, social awareness, and relationship management skills, you can navigate emotionally-charged situations with empathy and understanding. This leads to enhanced patient satisfaction, improved patient outcomes, and a more positive eyecare experience overall. By investing in the development of emotional intelligence, eye care clinics can create a culture of compassion and empathy, benefiting both patients and eyecare professionals alike.

It’s never too late to start learning, just take it one step at a time.

If you missed Jade’s prior article on EI, click here to view.

Look for Jade’s continuing series on how Emotional Intelligence can be applied in your practice setting. Learn More about Jade’s consulting service by visiting her website.


 

Jade Bodzasy

Jade Bodzasy

Jade Bodzasy, Founder of Emotional Intelligence Consulting Inc., is a dedicated Coach and Consultant for Optometric Practices. Her extensive background includes over 20,000 hours of expertise focused on customer relations, work structure refinement, training method development, and fostering improved work culture within Optometric practices.

Certified in Rational Emotive Behavior Techniques (REBT), Jade possesses a unique skillset that empowers individuals to gain profound insights into the origins of their behaviors, as well as those of others. Leveraging her certification, she equips optometry practices with invaluable resources and expert guidance to establish and sustain a positive, healthful, and productive work environment.


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NextGEN OD Networking

In March 2023, the inaugural hybrid event by NextGEN OD, entitled “Opportunities & Options for New Optometrists,” surpassed expectations in both engagement and impact. Not only did the unique event attract a high turnout, it offered an opportunity to hear and learn from the experiences of recent optometry graduates and network with Canadian optometry students from diverse schools across North America. Given the geographical challenges, this opportunity was especially meaningful.

Driven by Success: Introducing the Student Ambassador Program

Motivated by this strong reception and recognizing the clear demand for more interconnectedness, NextGEN OD is excited to launch its Canadian Student Ambassador Program.

This initiative seeks to further unite students and the industry, thereby making the NextGEN OD community increasingly relevant and accessible to Canadian optometry students, regardless of their study location.

Nyah Miranda and Dr. Jenny Lee, OD, co-hosts of “Opportunities & Options,” are at the helm of this new Student Ambassador program.

Nyah, a second-year student and 2026 candidate at NECO, takes charge of all social media aspects as Digital Communications Associate. Meanwhile, Dr. Jenny Lee, a recent graduate currently in-residence training for Vision Therapy and Neuro Optometry (University of Waterloo), serves as the CRO (Clinical & Refractive Optometry) liaison.  CRO aligns closely with the new Student Ambassador program benefits.

Why NextGEN OD?

While the Canadian optometry student community may be relatively small in numbers, its potential for impact is substantial. NextGEN OD aims to enhance this community by offering invaluable resources and connections that pave the way for thriving careers. Whether studying locally or internationally, this program has you covered.

The Tangible Benefits: Why You Should Sign Up

This program grants student ambassadors a range of exclusive perks, such as:

  • A free CRO Journal subscription
  • Complimentary CRO Student Membership with quiz access
  • Compensation opportunities during special NextGEN events
  • Free CRO membership after graduation
  • Opportunities for publication in eyecare media, paving the way to become a peer influencer
Meet the Trailblazers

We’ve already enlisted a pioneering cohort of exceptional optometry students poised to make an impact in their roles as NextGEN OD Student Ambassadors. These trailblazers have set a high standard, and now the doors are now open for you to join this esteemed group.

NextGEN OD Student Ambassadors
Right to Left: Nyah Miranda (NECO), Jenny Lee (Waterloo) , Natasha Reyes (Waterloo), Michelle Paul (Pacific University), Stephanie Mathews (Michigan College)
How to Engage: Seize the Opportunity

Eager to contribute to NextGEN OD’s mission and join this groundbreaking initiative? Applications for the academic year starting September 2023, are now open. To apply and learn more, visit the NextGEN OD Student Ambassador Landing Page.

Your Next Move: Apply Now

Don’t let this opportunity slip by. Apply today and become a driving force in shaping the future of  the initiative.

About Eye Care Business Canada/Next GEN OD

Eye Care Business Canada (ECBC) and NextGEN OD are sponsors of  CAOS (Canadian Association of Optometry Students) for the academic year 2022-23.

About Eye Care Business Canada and NextGEN OD

Eye Care Business Canada, and NextGEN OD, are committed to empowering Eye Care Professionals and aspiring optometrists. In collaboration with our sponsors, we deliver insights across a range of topics including practice marketing, financial well-being, leadership, and self-development. Additionally, through the NextGEN OD Student Ambassador program, we offer Canadian optometry students a unique platform for networking and professional growth opportunities.

We welcome reader engagement through article ratings and comments on our website. Upholding an open approach, we are impartial toward potential sponsors who wish to engage responsibly with our diverse audience.  ECBC and NextGen OD, and CRO (Clinical & Refractive Optometry) are divisions of VuePoint IDS.


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Investing basics

Everyone makes it sound so complicated. From “just start here with XYZ online brokerage” to a myriad of books, articles and opinions. But what are the basics?

  1. Start at Home
Investing in your home
Don’t Over Glam

Start at home can mean two things. The first is about investing in your own home. You need a place to live and you might as well create some equity out of that expense. Keep in mind that real estate isn’t always a great investment. Like everything else, the price you pay matters. You will also need to ensure that you maintain that property for it to hold its value. And you need a buyer. Something is only worth as much as someone else will pay for it. Don’t over glam as you risk pricing yourself out of your market area.

 

 

  1. Invest in What You Know
Invest in What you Know
You Know Optometry

This is the second point of starting at home. What do you know about?

Optometry is a given. So invest in your own practice. Here you will have control over the decisions that will directly impact your bottom line. You know it and can control it.

 

 

 

  1. Invest in Profitable Businesses

When it comes to investing in an optometry practice or in owning marketable securities, you always want to own businesses that are profitable. In practice you can turn a fledging private business around and make it profitable. In publicly traded securities you don’t have that kind of control or impact, so it’s vital that the business is profitable and run well.

Profitable businesses have sufficient cash flow to pay their debts (yes, successful businesses know how to use leverage to their advantage), are able to roll profits into expansions and growth, and most importantly, can pay their owners a dividend. It’s vital that you get paid for taking on any risk of business ownership. Seems so basic that most people forget this tenant of investing!

  1. Invest in Sustainable Businesses
Profitable businesses
Standing the Test of Time

Green sustainability aside, a sustainable business is one that is durable and can stand the test of time. These are businesses that, quite simply, are difficult to live without, difficult to compete with, and difficult to replicate.

In Canada, think of CN Rail – it moves, literally, boatloads of goods across a vast distance very efficiently. It would be ridiculous to think that a competitor could easily come in and create a competing railroad today.

 

  1. Price Matters
EBITDA
Understand Prices

As mentioned with real estate, price matters at all times when buying investments. The price you pay for your optometric practice should be manageable and easily recouped by profits over a period of typically 5 to 10 years. The price you pay for marketable securities is also key to seeing growth. No business out there is worth an inflated price.

Think about multiples. You often hear that practices are selling for 3-5X EBITA (earnings before interest, taxes and amortization). This same factor applies to business stocks. It’s common on the stock market to pay over 100X earnings. In fact, at the start of the tech buzz, CISCO was priced at valuations over 200X P/E (price to earnings). CISCO has gone on to be a great business worth owning – but if you bought it at these ridiculous prices, you are still down on your investment. No business is worth an outrageous price.

You can also think of P/E as the number of years it takes to recoup your investment. If something is trading at 200X P/E it will take you 200 years of current earnings to break even. I know I won’t be around long enough to see that happen!

In Summary

Investing shouldn’t be a game you play. It should be done with intention and knowledge. Knowing what you own and why you own it is the basis of all good investments.

Advisory

As your Chief Financial Officer, I am here to help guide you through the various areas of wealth creation. Helping you understand your money and assisting you in making smart financial decisions about your debt repayment, insurance protection, tax management and wealth, are just some of the ways that I work as your fiduciary.

Have more questions than answers? Educating you is just one piece of being your personal CFO that we do. Call (780-261-3098) or email (Roxanne@C3wealthadvisors.ca) today to set up your next conversation with us.

Roxanne Arnal is a former Optometrist, Professional Corporation President, and practice owner. Today she is on a mission of Empowering You & Your Wealth with Clarity, Confidence & Control.

These articles are for information purposes only and are not a replacement for personal financial planning. Everyone’s circumstances and needs are different. Errors and Omissions exempt.

ROXANNE ARNAL,

Optometrist and Certified Financial Planner

Roxanne Arnal graduated from UW School of Optometry in 1995 and is a past-president of the Alberta Association of Optometrists (AAO) and the Canadian Association of Optometry Students (CAOS).  She subsequently built a thriving optometric practice in rural Alberta.

Roxanne took the decision in  2012 to leave optometry and become a financial planning professional.  She now focuses on providing services to Optometrists with a plan to parlay her unique expertise to help optometric practices and their families across the country meet their goals through astute financial planning and decision making.

Roxanne splits EWO podcast hosting duties with Dr. Glen Chiasson.


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Emotional Intelligence

Eye Care Business Canada is pleased to welcome a new contributor, Jade Bodzasy, Founder of Emotional Intelligence Consulting Inc. Certified in Rational Emotive Behavior Techniques (REBT), Jade possesses a unique skillset that empowers individuals to gain profound insights into the origins of their behaviors, as well as those of others. Jade is a dedicated coach and consultant for optometric practices with over 20,000 hours of expertise focused on customer relations, work structure refinement, training method development, and fostering improved work culture within optometric practices.

Jade’s aspiration is to unlock the full potential of optometry practices, enhancing their efficiency through the strategic integration of emotional intelligence methodologies. Her contributions promise to shape a more harmonious and thriving landscape within the realm of eye care business. 

 

In optometric practices, providing exceptional patient care goes beyond clinical expertise. It requires eye care professionals to effectively manage patient expectations and build strong relationships based on trust and empathy. For the talented individuals that are able to pull this off, they know it builds on the success of their clinic.

One crucial skill that can greatly contribute to this is emotional intelligence (EI). Emotional intelligence refers to the ability to recognize, understand, and manage your own emotions and those of others. By harnessing the power of emotional intelligence, eye care professionals can navigate emotionally charged situations with patients, enhance patient satisfaction, and ultimately improve patient outcomes.

What is the Foundation of Emotional Intelligence?
Self-awareness is the first pillar of emotional intelligence. It involves recognizing and understanding your own emotions, thoughts, and behaviors. In the context of eye care, self-awareness is crucial for effective patient communication. Eye care professionals who are self-aware can better manage their own emotions and reactions, allowing them to respond to patients with empathy and understanding.

By being aware of your own biases, triggers, and stressors, you can avoid projecting your own emotions onto patients and approach each interaction with a clear and open mind. This is the first step in understanding how to manage your patient’s experience.

“When we are aware of something, we can change it if we want to. If we are unaware we cannot make a change.”

It can be challenging to become aware in an area that you feel as though you are already confident in. However, it’s beneficial to be in the mindset of “We can always learn something new” and this allows for awareness opportunities so that you can improve.

Now how do you increase your self-awareness?

You can engage in reflective practices such as journaling or awareness exercises. Taking the time to reflect on your emotions and experiences can help you gain a deeper understanding of your own emotional responses and how they may impact your interactions with patients. This practice is a form of self-feedback and can provide valuable insights into areas for growth and improvement.

Now that I am Self-Aware, what do I do?
 Self-management is the second pillar of emotional intelligence. It involves the ability to regulate your emotions in a healthy and constructive manner. In the eye care industry setting, self-management is essential for maintaining professionalism and providing effective patient engagement. Eye care professionals who can effectively manage their emotions are better equipped to handle challenging situations, such as delivering difficult news or managing patient frustrations. They can remain calm, composed, and empathetic, even in high-pressure environments. When you can implement these skills, you start to see how this is going to drastically change your patient’s experience in your clinic.

Here is an interesting way to view this whole self-management concept. 

Angry Patient asks, "Where are my Glasses"There is a patient that is wildly frustrated because they thought their glasses would be ready in two weeks time and they are not.

They are being very vocal in a loud way about how this has caused them a great deal of frustration and is a huge inconvenience.

You have three staff members you can pick from to handle the situation, one is a front desk Administrative assistant, the other is an Optician, and the last one is the Clinic Manager.

Which one do you send into the frustrated patient situation?

We all tend to ask ourselves this question to find our answer “Who’s Manager, or Who’s worked here the longest?” and although sometimes this works, it’s often not the best option.

Try asking yourself this instead “Who has had the most experience with remaining calm and empathetic in these situations?” That person is likely your staff member with the highest amount of self-regulation. This means they will be your best option for turning this situation around.

Whether someone knows all the lenses, understands the in’s and out’s of your operating systems or has the highest IQ, none of that will help them if they cannot regulate themselves in a high stress situation.

To calm someone down, you first need to calm yourself down.

One strategy for self-management is increasing emotional resilience. This involves recognizing emotions as they arise and taking steps to regulate them. In a challenging situation like the one above, take a moment to acknowledge to yourself that you are having an emotional response and choose whether or not it is beneficial to the patient if you react to it.

It is also important for eye care professionals to take care of their own well-being, ensuring they have the support and resources they need to manage stressful situations and not carry those forward with them into other moments.

Look for Jade’s continuing series on how Emotional Intelligence can be applied in your practice setting. Learn More about Jade’s consulting service by visiting her website.


 

Jade Bodzasy

Jade Bodzasy

Jade Bodzasy, Founder of Emotional Intelligence Consulting Inc., is a dedicated Coach and Consultant for Optometric Practices. Her extensive background includes over 20,000 hours of expertise focused on customer relations, work structure refinement, training method development, and fostering improved work culture within Optometric practices.

Certified in Rational Emotive Behavior Techniques (REBT), Jade possesses a unique skillset that empowers individuals to gain profound insights into the origins of their behaviors, as well as those of others. Leveraging her certification, she equips optometry practices with invaluable resources and expert guidance to establish and sustain a positive, healthful, and productive work environment.


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Electronic Health Records

As an independent optometrist, selecting the right optometry Electronic Health Records (EHR) system for your practice is a critical decision that can significantly impact efficiency, patient care, and overall profitability. This post is the first of a series addressing optometry EHR systems. The first blog post deals with the which criteria to use in making a selection.

In subsequent posts we’ll address the best practices for making a selection and address the all important task of on-boarding staff to a new optometry EHR system.

Take Survey nowWe also ask you to provide some information about your current system and which others you might have considered. You can do so by participating in the survey.

At the conclusion of the series, a winner will get a $50 e-gift card selected among the survey respondents.   

With numerous options available in the market, it’s essential to carefully evaluate and consider key factors before making a final selection.

Functionality and Usability.
When evaluating optometry EHR systems, functionality and usability should be top priorities. Optometry practices have unique requirements, and it’s crucial to ensure that the chosen system meets your specific needs. Consider the following factors:

  1. Comprehensive Optometry Features:
    Look for an EHR system that offers specialized optometry functionalities, such as integration with diagnostic devices, customizable templates for eye exams, and support for visual acuity testing and refraction measurements. These features will enhance efficiency and streamline your workflow. Some systems are general medical systems that are made over. Be certain that the systems that make your short list are specific to Optometry.
  2. Intuitive User Interface:
    Opt for an EHR system with a user-friendly interface that is easy to navigate. A clean and intuitive design can reduce training time and minimize the risk of errors during data entry and retrieval.
  3. Interoperability:
    Choose an EHR system that integrates with other healthcare providers’ systems, such as primary care physicians and ophthalmologists. Seamless interoperability facilitates efficient information exchange, streamlines referrals, and improves patient care coordination.

Data Security and Compliance
Protecting patient data is of utmost importance in today’s digital landscape. Optometry practices must adhere to strict privacy regulations and maintain the highest standards of data security. Consider the following factors:

  1. Privacy Compliance: In Canada, the equivalent to HIPAA compliance is the Personal Information Protection and Electronic Documents Act (PIPEDA) and various provincial privacy legislation. While the specific requirements may vary by province, optometry practices in Canada should prioritize EHR systems that adhere to privacy regulations. These include features like secure data transmission, audit trails, access controls, and encryption of patient information.
  2. Data Backup and Disaster Recovery: Look for an optometry EHR system that provides robust data backup and disaster recovery mechanisms. Regular backups, off-site storage, and redundancy measures are essential to protect against data loss or system failures.
  3. Data Ownership and Accessibility: Clarify the ownership rights of patient data and ensure that you have control over your practice’s data at all times. Additionally, consider the accessibility of the EHR system from various devices and locations to support remote work and provide flexibility for your practice.

Cost and Vendor Support The financial aspect and the support provided by the EHR vendor are significant considerations in the selection process. Evaluate the following factors:

  1. Total Cost of Ownership: Consider the upfront costs, ongoing subscription fees, implementation fees, and any additional charges associated with the EHR system. Compare the pricing models of different vendors and ensure that the system aligns with your budget.
  2. Training and Support: Determine the level of training and support offered by the EHR vendor. Adequate training is crucial for a smooth transition and effective utilization of the system. Look for comprehensive training materials, online resources, and responsive customer support.
  3. Scalability and Future-proofing: Evaluate the scalability of the EHR system to accommodate the growth of your practice. Consider the vendor’s commitment to continuous updates and improvements, ensuring that the system remains up-to-date with changing industry standards and requirements.

Selecting the right EHR system for your independent optometry practice requires careful consideration of key factors such as functionality, data security, cost, and vendor support.

By following best practices, thoroughly evaluating potential systems, and effectively on-boarding your staff, you can ensure a smooth transition to an optometry EHR system that enhances efficiency, improves patient care, and drives overall practice profitability.

Take the survey now.

 


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Trust Your Instincts

Many practice owners underestimate their abilities as entrepreneurs. Practice stats, financials, HR issues, marketing and other tasks let alone patient care and management, overwhelm some people. Some will tell me they are terrible at business and choose to let someone else handle it.

Practice owners are much better at business than they believe. The reality is that practice owners are business leaders. Therefore, practice owners are faced with important decisions daily. You determine strategic direction, guide hiring, set practice priorities, the list goes on. People make decisions using two different processes; the first is based on logic and facts, and the second is based on intuition. This is where I feel practice owners do not give themselves enough credit.

Obviously, we must look at the facts. But have you thought to yourself when you do see the facts, “I’m not surprised, I felt that was not right at the time…”

We do not want to trust our instincts as much as we should because it means we must pay attention to our emotions. Oftentimes we need to remove the emotion from a difficult situation.

Why Don’t We Trust Ourselves?
Controlling emotions is more important when it comes to reacting to a situation. But what about when making decisions? What if you have the facts, but there might also be competing or incomplete information? In these cases, trusting in intuition becomes a valuable leadership competency. As Bill Gates says, “often you have to rely on intuition.”

Sometimes, people do not want to trust their intuition. It is important to discern between intuition and fear. We have all faced a situation where we were simply afraid to take action. Fear tends to be accompanied by bodily sensations, you may feel tense, panicky, or desperate. Fear has a pushing energy, as if you are trying to force something, or selecting an option because you want to avoid a threat, rejection, or punishment.

Fear also tends to be dominated by self-critical thoughts that urges us to hide, conform, or compromise yourself. Intuition on the other hand has a pulling energy, as if your choice is moving you toward your best interest, even if that means pursuing a risk or moving more slowly than others. This is usually accompanied by feelings of excitement and anticipation or ease and contentment.

Physically, gut feelings tend to cause your body to relax. With intuition, your inner voice is more grounded and wiser, like a good mentor. And remember, using intuition does not mean you have to make a quick decision. An intuitive decision can still take a few days.

Whenever I have important decisions to make, I do trust my instinct or my gut. Try asking yourself:

Do I pay attention to my first reactions about a given issue?
When I am faced with a decision, do I consider my feelings in addition to the facts?
Do I check in with my gut feeling after summarizing the pros and cons?
Do I pay attention when my gut sense is at odds with the available information?

To help use your intuition more, simply slow down. We answer our texts and emails far too quickly. We may feel compelled to make a quick decision despite being extremely tired. It is hard to slow down given the pace we are all running at. But taking a step back is important and necessary to access intuition.

The next time you are faced with an important decision, take some time to get out of your head and away from your office. Go for a walk. Do not feel the need to respond quickly. Just sit with the decision, ponder alternatives, and try brainstorming new solutions. As you do so, tune in to your emotions and evaluate your reactions to understand how intuition might be leading you in this situation.

What about the time your intuition failed? Did it really fail? Or did you let biases get in the way? There will be times when intuition leads you astray because mistakes can be attributed to unconscious biases. Biases are cognitive distortions that manifest in personal preference or misleading assumptions.

Have you noticed when you decided too quickly or were overconfident, that is when things went wrong? Whenever you let your biases interfere with your decisions, they skew your objectivity leading to the wrong decision. Your gut did not let you down but rather you chose to listen to your personal opinions that influenced your judgement.

Anchor Your Intuition with Core Values
The next time you have a decision to make, try and engage your intuition. It is always important to remind yourself about your core values and what is most important to you. Examples include service, stability, family, or calmness. Perhaps you are feeling agitated after a long day at work when nothing went your way. Your core values can help you pinpoint the source of your frustration and understand it more clearly. Using your values, you can check-in to figure out what feels off internally and gain perspective on the situation. Remember, your core values represent what is most important to you so do not be afraid to fall back on them.

I am confident that people who pride themselves on having a strong intuition, honed through years of experience, helps guide their decisions. Others will be ambivalent about relying on their intuition to make important choices because they are concerned that their gut reaction is inherently biased or emotional. This latter group is no doubt responding to the oft-given advice that we should use formal data and analysis to “check” our intuitions.

So, who is right? Should leaders make decisions based on their gut feeling, or should they not?

Please do both. Facts speak loudly and clearly; they cannot be dismissed. But remember to listen to your inner voice. Go to a quiet place, clear your mind, remove fear and biases, and truly listen to your instincts. They will not lead you astray.

A challenge for you after reading this article is to take a moment today or tomorrow to reflect on what your top one to three values may be. The next time you find yourself struggling to make a decision, ask yourself, “which action or decision brings you closer to those core values?” Going within can help dissolve the internal tension that leads to mental loops.

Finally, keep in mind that intuition cannot flourish in busy, stressful environments. Give your mind space to wander and make connections. Remember, while intuition is not perfect, it is also a decision-making tool you are underutilizing, at the moment. Trust yourself a little more and you will be surprised to find that your gut is a more powerful decision-making tool than you may have realized.

You are a practice owner and entrepreneur for a reason. Embrace this role. Sometimes a big challenge is the dislike one may have for leadership. The more you fight it, the harder it can be.

Implement systems that help you manage effectively. Always remember, you are not in this alone. There are resources available if only you choose to reach for them.

Jackie Joachim, COO ROI Corp

JACKIE JOACHIM

Jackie has 30 years of experience in the industry as a former banker and now the Chief Operating Officer of ROI Corporation. Please contact her at Jackie.joachim@roicorp.com or 1-844-764-2020.


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