Socrates Triple Filter Test: A Primer for Good Office Culture

Ahh the thoughts that go through my head in a day! I am thankful nobody is a mind reader (at least as far as I know!).

Every day there is a battle in our minds to stay on task, to be positive, to be kind and to be grateful and mindful. Some moments of the day our thoughts can flash to frustration, anger, negativity, gossip and resentment. We are human after all and it is difficult to control every thought and make it a positive one, even for those who are consciously being mindful to keep their thoughts focused and positive. The good news is that our inside thoughts do not automatically come out via our outside voice.

We all know team members, including doctors, that have a very low filter from their mind to their mouth. If they think it, they say it! Of course, this isn’t conducive to a great team culture. Being unfiltered brings mean spirited words, negativity, gossip and discomfort for the listeners.

Ultimately a lack of filter can be a catalyst for others to have no filter, leading to general office tension and low morale.

Socrates Triple Filter

Socrates said if what you’re about to say isn’t true, good and/or useful, then don’t say it! It is incredible how much more productivity and positivity results when the triple filter test is utilized to filter one’s thoughts before the words come out; this takes discipline.

Culpability of the Listener

We teach our team members that if they happen to be listening to one staffer complaining about another staffer they are contributing to office dysfunction through the act of listening.

We encourage the listener to ask the speaker to approach the staff member with whom they may have an issue directly rather than through a third party. If necessary, we ask them to approach a manager or leadership team member to discuss the facilitation of face-to-face dialogue.

When an offender of the “triple filter test” is called out by a colleague, then we are more likely to see better office dialogue centered on patient care and process improvement rather than gossip, hearsay and unproductive conversation.

Accountability via Compensation

We ask each of our staff to touch base quarterly with a manager or leadership team member for a coaching session. This is an informal way to check in with each staffer and remind them of the importance of not participating as a listener in counter-culture dialogue. We make it clear that poor verbal control is a barrier to raises and promotions. Linking compensation to more professional conversations is very important to a good office culture.

It’s All in Your Tone

Studies have shown that it mostly matters “how you say it” versus “what you are saying”. Even when the content is muffled to the point of incomprehensibility, people can detect in the tone whether that person is a “good” or “poor” manager.

Tone is absolutely crucial to how well feedback, advice, and training are received. A kind tone of voice communicates respect, appreciation and a willingness to help. Employees enjoy working for an enthusiastic, upbeat manager whose words and body language are congruent.

Avoidance Isn’t a Solution

The “silent treatment” is a very good way of increasing tension and pressure during a negotiation, but it has no place in a culturally strong office environment. We ask our team members to sort out issues directly and quickly.

Harbouring resentments and ill well are almost always felt by other staff members and notably, by the patients. Staff of clinics with low morale and poor culture are more likely to leave their jobs and work elsewhere.

One of the best retention strategies is to have an office that communicates well, works together and filters their thoughts into optimized words to create a culture of respect.

View all of Dr. Miranda’s Independent practice Insights.

DR. TREVOR MIRANDA

Dr. Miranda is a partner in a multi-doctor, five-location practice on Vancouver Island.

He is a strong advocate for true Independent Optometry.

As a serial entrepreneur, Trevor is constantly testing different patient care and business models at his various locations. Many of these have turned out to be quite successful, to the point where many of his colleagues have adopted them into their own practices. His latest project is the Optometry Unleashed podcast.

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Impact of Increasing Interest Rates

Accounting Basics, Building Wealth, Finance|Wealth, Real Estate

Has the constant increase in rates for the past 6 months created serious indigestion for you? No doubt anyone looking at selling or buying a practice is feeling nervous.

Let’s look at the overall effect of higher interest rates.
1) As interest rates increase so does the cost of borrowing. A cautionary tale is to not be carrying any credit card debt if possible.

2) Does the hike in interest rates affect practice values? Technically no. When we appraise an office, we assume it is debt free. As much as we do not agree with valuing a clinic as a multiple of EBITDA, interest is added back, so again, the increase does not affect the value.

3) Will a buyer be influenced by interest rates? Absolutely. Let’s say for example a practice is valued at $1 million. Because a purchaser must borrow from the bank, debt servicing must be considered. Depending on cash flow, the buyer may not get 100% financing. This does not mean that the practice is overvalued. It simply means that for a buyer to purchase this office, they must either put some of their own money into the transaction or offer a lower price at the clinic.

4) Do higher rates affect spending? In normal consumer spending it would. Many of us would think twice about certain investments or luxury purchases. However, if you have been associating for years and want to be an owner, interest rates are just a part of doing business.

Regional Differences
I am certainly not an economist nor qualified to make such statements. From all the articles I read though, it is interesting to see how nationally, interest rates affect the individual provinces. British Columbia and Ontario are hit harder but this is due to the aggressive housing market experienced in prior years. The Prairies are doing well – commodities continue to be in demand (energy, crops, to cite a couple). Atlantic Canada is also holding well because quite frankly, they have been used to tough times in the past. But poor Quebec, it looks like it is heading for a recession due to an aging population and lower immigration level.

Economists say we will be in a mild recession. I think we already are. However, we’ve gone through this before. Anyone remember 2008? I was a banker at that time, practice values continued to increase and as a lender, we continued to provide financing.

There have been 11 recessions since 1948, averaging out to about one recession every six years. It is important to remember that recessions are part of the economic cycle.

A Silver Lining
As tough as they can be to experience, they also offer important economic benefits. As a practice owner, a recession will hopefully encourage you to be creative – look for ways to be more efficient and save on costs. Review your existing customer service policies – can you make patients feel more appreciated.

While recessions are painful, remember they are only temporary interruptions to the economy with an improvement to follow.

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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5 Tips to Financial Freedom

Building Wealth, Finance|Wealth

Adulting 101 is a big course. It’s lifelong and something we continue to learn about and grow from our experiences. Regardless of where you are on your career path, here are five tips to attaining financial freedom.

Cash Flow is King

You need to prioritize your cash flow. There is no single good answer for everyone on what that looks like, but it is a combination of debt repayment, savings, and living within your means today.

When we focus on savings, we are really focussing on time – the time needed to compound the growth of your money for your future use.

Money is a renewable commodity, but time isn’t. The sooner you figure out that you don’t want to actively work forever, the sooner you can start to put your money to work for you. Time is your friend when it comes to compounding. The sooner the better!

Opportunity cost is key here. You are always trading something. Is that daily latte worth having if it means you’ll have to work until you’re 65 or older? That money will better serve you in the future if you start putting it to work now.

Organizing your Debt

Paying yourself first is key. Paying debt is critical to your long-term success. The general rule of thumb is that debt repayment should account for no more than 30% of your cashflow.

Student loans, mortgages, and car payments are all included. So, if you are well surpassing this 30%, it’s likely time to revisit your strategy. Are you too aggressive at debt repayment at the expense of growing assets? Are you in a house that is way above what your income can support?

And don’t get me started on credit card and other consumer debt. If you can’t afford to pay cash for it now, you certainly can’t afford it when the bill comes with its 20% interest rate!

Insurance: Needs and What to Avoid

Remember, you are the goose that lays the golden egg. Therefore, you need to protect your ability to earn an income. Taking care of yourself and your family is key – and it helps you sleep well at night.

Insurance is an extremely large topic that we have touched on several times. Some key points from the past:

creditor insurance protects the lender
renewable and convertible are your friend
partial and residual will serve you well
insuring items that are easily replaced is not the best use of your cash
protect from liability

The key to know here is that not all insurance is of equal value.

Of late I’ve been getting more questions around permanent life insurance. Yes, this can be an effective strategy but, as cash flow is king, you need to prioritize those dollars allocated to insurance premiums. Using life insurance as an investment tool should generally only be considered after you have exhausted all other saving vehicles.

Plan for the best, prepare for the worst.

Minimize Taxes

No one likes taxes and, if you take a salary or make installment payments, you may assume that you are covered off here. The reality however is that those amounts are based on either the current tax tables or your past payments. They don’t reflect the lowest amount of tax you have to pay.

There are many opportunities to lower your current and future income taxation; different savings account types, the use of health spending accounts, and debt swap are just a few options. Dividends vs salaries. Share sale vs asset sale. Investing personally vs in a corporation. Buying real estate vs marketable securities. TFSA vs RRSP. They all have different tax implications that you need to understand.

Understanding your after-tax rate of return also matters. If your marginal tax bracket is 50% and you earn a 10% rate of return on your investment, your after-tax rate of return is only 5% if this is an Open account. But it is 10% if the investment is held in a TFSA.

Spend some time reviewing your last year’s tax return (personal and business) with your CPA and CFP to develop a plan to reduce your tax bill this year. Lots to talk about and lots of opportunity.

Save for Retirement

I struggle with the word retirement and really do prefer financial freedom. Regardless, you can’t cover your living expenses if you haven’t created an income stream that doesn’t involve you working day in and day out.

There are many ways to build up net worth and you need a plan that includes some liquidity. Building a practice is great, as is commercial real estate. But these are illiquid and are often not as easy to access when you need the cash flow as you expected. It’s important to have liquidity in some of your investments. You just never know when your dream around the world cruise might come on sale!

When is the best time to start investing? 20 years ago. The second best time though is NOW.

Advisory

As your Chief Financial Officer, I am here to help guide you through the various areas of creating your financial freedom plan. Helping you understand your money and assisting you in making smart financial decisions about your debt repayment, insurance protection, tax management and wealth creation, 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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Diversity and Inclusion in Eye Care

Independent SightLines

Canada is an intricate textured tapestry of different cultures. Each patient is unique and presents with different preferences and lifestyle choices. In today’s optometry world (and all healthcare in general) it is important to make every patient feel welcome and included.

I was born in a small town in Ontario, Canada to immigrant parents (from Goa, a Portuguese colony now part of India). My hometown was predominantly of homogeneous Caucasian descent and my darker skin stood out as an obvious difference from others in the community. “Where are you from?” would be standard line from people that had just met me, implying that I was from another part of the world given the physically obvious differences. “I’m from Canada and my parents are from Goa!” I would proudly state. I was aware of my ethnic heritage that came with mainly culinary differences from my peers, but I identified as Canadian just like they did. The implication here is that you get to choose your “tribe” and group that you identify with. While it is easy to be prejudicial given the “look” of someone, they may not identify themselves as part of the stereotype.

In our Optometry offices, we are working towards understanding diversity and being as welcoming and inclusive as possible. I feel it is totally fair game to inquire about somebody’s ethnicity. It is better to ask than to presume. Questions like “What’s your family background?” “Have you lived locally very long?” are acceptable when it comes from a place of inclusiveness. It is helpful as an eye doctor to understand family heritage as some ethnicities are predisposed to certain ocular diseases. Allowing for these inquiry conversations is an important part of “case history” and allows better investigations into potential threats to the patient’s vision.

Gender Identifications

During our online “Intake” process we allow patients to select their gender. We do not presume gender. We ask every patient what their preferred name is and use that name instead of “Mr. and Mrs.” We have done away with “men’s and ladies” frame sections and have used consultative questioning to elicit the patient’s style preferences. Learning more about the patient to better assist them with their frame choices is well received. Presuming gender may lead to hurt feelings and the patient feeling our doctors and clinic are “out of touch”. Being a clinic that is friendly and welcoming to everyone will earn a reputation for kindness and professionalism and also referrals.

Frame Choices for Everyone

It is important to have an eyewear gallery that has frames that suit the patient’s style choices as well as their face shapes. Certain sized frames and nose bridges are required for a frame to adequately fit some patients, so a deep selection is important. Eco-friendly frames, Indigenous created frames and brightly coloured frames are all part of a good selection that is inclusive and relatable to all our patients.

Ageism

As I become more “experienced” as a practitioner (28 years in practice as an optometrist), I have met so many amazing senior aged patients. Every day I am impressed and in awe of my senior patients. Many display a much younger spirit and ability than younger patients. I tell patients that it is my goal to have their good vision outlive them. It is absolutely possible to have 20/20 vision or “perfect” eyes and be 100. I have learned not to prejudge a patient based on their age. I certainly don’t want to be prejudged when I am a spry senior. Be understanding and kind and allow all elderly patients the opportunity to do tests that they can manage including visual fields testing for glaucoma. New technology such as head mounted testing devices will also assist those with limited mobility and posture constraints.

Training for the Team

Our team meets every week to discuss ways we can improve and learn. We survey every patient after their full exam and relay any patient recommendations for improvement to the entire team. If there were any less-than-ideal interactions, we learn how we could handle them better next time and contemplate strategies for service recovery.

Society is changing and so must we. The golden rule used to be “treat people how you would like to be treated”. We feel that is now archaic and the new platinum rule should be “treat people how they would like to be treated!”.

DR. TREVOR MIRANDA

Dr. Miranda is a partner in a multi-doctor, five-location practice on Vancouver Island.

He is a strong advocate for true Independent Optometry.

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3D Scan Technology vs. Clinic Methods: U de M Study Results Published

Differentiation | Business Strategy, Practice, Technology

Findings from a recently published empirical peer reviewed study conducted by the Université de Montréal (UdeM) unveils that the advanced technology Topology, used by New Look Vision Group, is the leading technology-supported purchasing method online.

Topology is a technology that uses the latest advances in 3D facial scanning and augmented reality to enable customers to take the necessary ultra-precise measurements needed to produce high-quality glasses.

The article, which has been published in the Journal Optometry and Vision Science, surveyed 30 people over 50 years old to test complex progressive prescriptions. It compared how three online eyewear retailers’ technology-based services (New Look powered by Topology and two major online eyewear retailers) fare against the U de M School of Optometry store. The research parameters primarily included the accuracy of the measurement, fitting and comfort upon delivery, and overall satisfaction.

The findings from the study uncover positive advancements in online prescription eyewear purchasing and identify Topology as a leading tool. Notable highlights include:

The quality of Topology’s measurements – namely pupillary half-distances and ocular height – is comparable to the measurements taken in person by UdeM eye care professionals.
Topology is the only technology that takes measurements for the production of personalized lenses (requiring a greater number of accurate measurements) when buying online.
Topology’s measurements are more accurate, allowing for clearer vision compared to two major online eyewear retailers.
Topology was ranked higher than the two other major online eyewear retailers by eye care professionals for frame adjustments to fit the wearer. In fact, with Topology, a personalized adjustment is made before shipping. New Look Vision Group is the only retailer to offer this service.
Overall, customers who use Topology technology to purchase prescription glasses online can benefit from an experience that is close to an in-person purchase in store.

The preliminary study results were released in November 2022 prior to publication.

The researchers concluded. “Basic lens centration measurements obtained with Topology compare well with those of opticians, but some aspects of the methodology for measuring personalization parameters could be improved. In comparison with two established online vendors, resulting measurements with Topology are more consistent. Initial wearer satisfaction with Topology eyeglasses was also better.”

“I am thrilled that an independent study confirms that New Look Vision Group’s app, which was conceived from a partnership with Topology, is the most accurate on the market. This represents years of extensive testing and a significant advance that will give confidence to people wishing to buy prescription glasses online, while providing an alternative solution with the same quality as in-store purchases.” says Jean-Michel Maltais, Senior Vice President Omnichannel, New Look Vision Group.

“This new technology from Topology represents a significant advance in the industry, compared to the traditional model of buying glasses online. The basic parameters allowing the production of quality progressive glasses are comparable to those obtained in-store. It is also likely that the higher visual comfort provided by Topology, compared to the other online retailers evaluated, is due to its ability to take measurements for the production of personalized lenses. This technology presents online eyewear shoppers with numerous advantages compared to what existed before and performs better on many levels.’’, mentions Nicolas Fontaine, Optometrist and University lecturer and researcher at the Optometry School of Université de Montréal.

“People are increasingly looking to online methods of shopping, and the app represents a new type of interaction with your mobile phone. It uses the latest 3D technology to scan 30,000 data points on a person’s face, taking ultra-precise measurements. This level of precision ensures a high-touch consumer experience, custom-fit frames (customer’s choice) and optimal comfort”, says Dr. Schwirtz, Optometrist and Vice President Innovation within the New Look Vision Group.

Digital health technologies are improving access to healthcare services for more people than ever before. Consumers now have more reliable options to choose from, and the comparative study by UdeM shows that New Look Vision Group’s app powered by Topology, which is available from its banners New Look, IRIS and Greiche & Scaff, is helping to transform the eye care industry by allowing customers to confidently shop for prescription eyewear from the comfort of their own home.

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A Guide to Overcoming Optometry Board Exams: The Last Hurdle

NextGenOD

Congratulations, aspiring optometrists!
As you begin the second half of optometry school, you are likely starting to feel the weight of not only making sure you make it through all your courses and clinic rotations, but also passing the board exams.

These exams are crucial milestones in your journey towards becoming licensed practitioners. To help you navigate this challenging process, we have compiled a comprehensive guide with key tips and resources to aid you in your preparation for the optometry board exams.

While optometry board exams in both Canada and the United States share the common goal of assessing your competency in the field, there are some notable differences in their structure and content.

In the US
The National Board of Examiners in Optometry (NBEO) administers board exams in the US. The exams consist of three parts: the Applied Basic Science (ABS) Exam (Part 1), the Patient Assessment and Management (PAM) Exam (Part 2), and the Clinical Skills Examination (CSE, or Part 3).

Part 1 focuses on your fundamental knowledge of ocular anatomy, disease, pharmacology, optics, and more. It ties together all the coursework you have gone through in your didactic lessons.

Part 2 evaluates clinical decision-making skills, much like seeing patients in clinic, where you are provided with a series of case presentations and questions are asked based on each case that assesses your knowledge of ocular and systemic disease, as well as patient management and care.

Finally, Part 3 assesses your practical clinical abilities in a series of four stations, each testing a different set of clinical techniques. These exams are designed to ensure that you possess the necessary knowledge and skills to practice optometry independently.

In Canada
Ten provincial optometry regulators such as the College of Optometrists of Ontario (COO) and the College of Optometrists of British Columbia (COBC) conduct the exams under the auspices of the Optometry Examining Board of Canada (OEBC).

The board examinations in Canada consist of only two components – one written, and one practical.

The written exam assesses your theoretical knowledge in areas such as ocular disease, pharmacology, and optometric procedures.

The practical component, called the Objective Structured Clinical Exam (OSCEs), evaluates your clinical skills, with a particular focus on critical thinking, communication, and patient management.

It is essential to familiarize yourself with the specific requirements and exam formats established by the regulatory bodies in the province or state where you plan to practice. Be sure to consult official resources and communicate with your faculty and mentors to obtain accurate and up-to-date information on the optometry board exams in your desired jurisdiction.

Key Tips for Board Exam Preparation:

Start Early! Begin your preparation well in advance to allow ample time for review, practice, and consolidation of concepts. For example, for the NBEO, three to six months is typically recommended prior to your examination date. For some optometry schools, you may not be able to take time off prior to your exam date, so more time should be allocated in advance to account for ongoing midterms, clinical evaluations, and other commitments.Some students may consider taking written exams at the later date that is offered to allow for more time to study; however, consider that the earlier you schedule your exam, the more time you have to account for unforeseen circumstances, such as needing to retake or reschedule an exam.

Both the NBEO and the OEBC offer multiple examination dates:

Click to view the NBEO schedule (USA)
Click here to view the OEBC schedule (Canada).
Create a Study Plan: Develop a structured study plan, allocating time for each topic based on its weightage in the exams. Break down the material into manageable sections to avoid feeling overwhelmed.Many boards preparation programs create daily schedules for you to follow, but keep in mind that you may need to adjust this based on your own schedule and to account for areas you may find more challenging.Moreover, optometry school is a busy time in your life, and it’s key to incorporate ongoing events such as midterms, conferences, or social events into your study schedule so you can recognize which weeks you should be packing in your studies and which weeks you may need to prioritize other commitments.

That being said, keep study schedules realistic – if you know you can’t review 50 pages in a day, don’t set yourself up for failure right from the start!

Don’t Study Alone: Collaborate with your peers to discuss and review topics, exchange study materials, and challenge each other with practice questions. Particularly for practical examinations such as the NBEO Part 3 and Canadian OSCEs, it is crucial to practice and engage in roleplays with your peers to identify areas of difficulty or to have others point out areas of improvement.Aim to schedule practice sessions with your peers! You may find yourself exposed to more points of view and different ways of presenting information which can be helpful not only in your practical exams but also as a future practitioner.
Make Boards Prep a Daily Habit: Consistent practice with sample questions and mock exams will help you build confidence, improve time management, and identify areas that require further attention.No one starts out completely ready to tackle board exams – rather than intelligence and talent, boards prep is ultimately a journey of preparation! Boards preparation should also be part of your daily time spent in clinic at school – remember to ask your professors and clinic supervisors whenever you are encountering a new difficulty or hurdle with a patient. Your time spent in clinic will pay off in the exam room!
Seek Mentorship: Reach out to professors, optometrists, or alumni who have successfully passed the board exams for guidance and mentorship. Their insights can be invaluable in understanding the exam format and content, particularly as the NBEO and OEBC may be vague in their rubrics or their guidelines.Students who have recently taken their board exam will have a fresh recollection of their experiences, but take others’ advice with a grain of salt as everyone’s studying process is ultimately unique and something that may work for another student may not be ideal for you!

Using Available Resources:

Textbooks and Study Guides: Many students opt for their old lecture notes, or classic textbooks such as the Will’s Eye Manual which are excellent resources to reinforce your understanding of core concepts.Moreover, podcasts can be excellent guides for students who are commuting to clinic externships – Eyes for Ears by Dr. Ben Young and Dr. Andrew Pouw provides a comprehensive review targeted for ophthalmology board exams but provides many clinical insights to optometrists!
Boards Prep Programs: Numerous online platforms offer comprehensive study materials, practice questions, and interactive learning modules. OptoPrep (optoprep.com) and KMK Optometry (www.kmkoptometry.com) are two popular platforms that provide tailored board exam preparation services. They offer subscription-based access to their resources, including study materials, practice questions, and simulated exams.
Exploring these platforms can significantly supplement your preparation.

Leveraging Published Case Studies and Topic Reviews: In addition to textbooks and online resources, incorporating published case studies and topic reviews into your board exam preparation can significantly enhance your understanding and application of optometry concepts.

Your time spent first-hand with patients in clinic is invaluable for boards preparation, but ultimately a limited exposure to all the conditions and management strategies in the field. Therefore, it is highly recommended to immerse yourself with more case studies and topic reviews to solidify your knowledge for topics you may not have had the chance to experience in clinic.

CRO offers original case reports and topic reviews.

One valuable source of such materials is the Clinical & Refractive Optometry (CRO) Journal,

This journal provides a wide range of free articles covering salient topics in optometry. The articles in the CRO Journal present real-life scenarios, clinical challenges, and topic reviews that can improve your critical thinking and problem-solving skills. By reviewing these case studies and topic reviews, you can gain insights into the practical aspects of optometry and apply theoretical knowledge to realistic patient scenarios.

The CRO Journal can serve as an excellent complement to your study materials, allowing you to broaden your understanding and stay updated with the latest advancements in the field.

Students can create a complimentary student account which also provides access to the self-testing quiz included with selected courses. (Contact support@CROJournal.com).

Preparing for optometry board exams requires a disciplined approach, a solid study plan, and access to reliable resources. By starting early, engaging in study groups, exploring online platforms like OptoPrep and KMK Optometry, enrolling in review courses, and leveraging published case studies and topic reviews, including those found in the Clinical & Refractive Optometry (CRO) Journal, you can develop a comprehensive understanding of optometry concepts and sharpen your clinical reasoning abilities.

Remember, success in board exams requires a multifaceted approach that combines diligent study, practice, and the exploration of diverse resources. With careful preparation and a proactive mindset, you are well-equipped to excel in your optometry board examinations. Best of luck on your journey to becoming licensed optometrists!

Related Read
Alex Hecht, UW Class of 2021 Shares her journey writing the NBEO exams as a Canadian OD student.

Writing NBEO Exams as a Canadian Optometry Student

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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Specsavers and the Canadian Council of the Blind Announce Sponsorship to Champion Vision Health

Optometry Diversification Generates New Steady Revenue Streams

Independent SightLines, Sponsored Posts

Thriving in today’s competitive optical retail environment requires constant attention and innovation. Independent eye care practitioners are facing increased online and budget bricks-and-mortar competition. Big box and even grocers and pharmacies are competing for optical retail product revenues. How do clinics thrive in this environment? How can they grow revenues? The answer: Optometry diversification of your revenue streams.

Here are some of the evolving opportunities.

Medical Model
The scope of optometric practice continues to expand providing optometry diversification opportunities. Optometrists can prescribe a variety of topical and oral therapeutic pharmaceuticals for an ever-widening scope of pathologies. Potential future scope expansion may include the use of lasers or other nouveau procedures.

There is high prevalence of macular degeneration and glaucoma in our patient populations. Diagnosing and managing treatments of these diseases can indeed provide consistent revenue streams into the future.

Unfortunately, many optometrists, despite having the requisite scope to treat these diseases, refer the patient for treatment to their local ophthalmologist’s office. Macular wellness centres and efficient management of glaucoma can be quite professionally satisfying while fulfilling a need in the medical eye care community.

In many instances, patients appreciate the elevated level of care despite the requirement of private pay in many instances. Keeping these patients in the optometry universe allows for continued refractive and ancillary care such as dry eye services while adding to the practice’s profitability.

Diversify through Practice Niches
Vision therapy, Dry Eye centres, Myopia Management, Low Vision, AMD wellness and optometric aesthetics are examples of growing business divisions within optometric settings. When incorporated in an efficient manner through delegated effective treatments, these services can be very accretive to optometric practice profitability.

The need for skilled optometrists in these subspecialties is growing. Care for these patients is making tangible improvements in patients’ vision and their lives. It is important to treat each of these business divisions as unique with separate budgets, with training costs and bonuses attached to each.

Incentivizing a key staffer as a “Champion” of the specialty can assist in training and marketing to promote the service to the public and to referring optometrists, ophthalmologists, and other health care practitioners.

Sunglasses, nutraceuticals, and dry eye products
Retailing all the products that can help improve and preserve vision is important. These optometry diversification opportunities help raise revenue per patient while increasing the “mind space” that allows your patient to think of you and your offerings when it comes to eye care and eyewear.

Providing readily accessible high quality products through an omnichannel strategy can improve patient outcomes and bottom line profits. E-Commerce should be readily accessible through the office’s online portals to allow easy reordering.

Consider a subscription strategy to improve affordability perceptions and smooth out revenues over time. We use Avocado lenses for contact lens subscriptions. If carrying various products is too onerous as a new or smaller clinic, consider partnering with retailers to share profits such as “The Drop Shop”. This strategy eliminates stale dating of products while still being able to offer a wide product array.

Professional fees versus Commodity products
Your professional fees for services should be commensurate with your education and offerings. My standard recommendation for struggling practices is to raise your professional fees and annually increase them in order to keep pace with inflation.

The Golden Rule is to wow every patient with world class service, care and technology. When retailing products, ensure the products are lower or within 10% of exactly the same product found in other retail settings. If coming closer to your competitors’ pricing is too challenging, consider choosing products not readily available in big box and online channels.

Consider including budget options to compete with online or low-cost operators while still providing boutique and premium products as a primary offering. Gaining and retaining trust is of utmost importance for independent offices. Misrepresentation of our intent will continue and intensify by retail entities looking to crush independents.

Audiology
In three of our five clinics, we have integrated hearing services. This symbiotic relationship with the vision and hearing clinics allows for economies in practice through sharing of resources.

Hearing services can provide additional sources of revenue for optometric practices while offering patients access to this much needed service. On average, patients with hearing loss take seven years to seek help thus reducing their rehabilitative capacity and reducing their enjoyment of life.

Marketing
The battle for our patients will continue. As an independent will you tolerate direct to patient competitors that still supply high margin product to optometrists?

When will Independent practices refuse to be led down the garden path by multinational conglomerates looking to monopolize via an omnichannel strategy?

As an independent optometrist it is crucial to invest in internal and external marketing. Guerrilla marketing will allow one to compete with a nimbleness that the big companies cannot match. SEO, digital marketing, word of mouth campaigns and low cost social media outreach are pillars of the independent optometric strategy.

Pursuing these optometry diversification opportunities will benefit practice profitability.

View other articles from Dr. Miranda.

DR. TREVOR MIRANDA

Dr. Miranda is a partner in a multi-doctor, five-location practice on Vancouver Island.

He is a strong advocate for true Independent Optometry.

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Bailey Nelson Career Opportunities -Find Your Fit

Career Options, NextGenOD, Sponsors

Dr. Laurie Lesser, Eyecare Director Canada/UK, Bailey Nelson subtitled her presentation “How to have a fulfilling career as an optometrist, while having the time to enjoy your other passions” and outlined Bailey Nelson career opportunities for young NextGEN ODs.

She traces the roots of Bailey Nelson to Aussie founders, Nick and Pete who gained modest success selling beautiful eyewear at reasonable prices on chill Bondi Beach Market near Sydney.

The entrepreneurs heeded the advice of a local Optometrists suggesting coupling their eyewear in a full-service optometry setting. Success in Australia spread internationally to New Zealand, Canada (2016) and UK. Today Bailey Nelson has over 100 stores in four countries, nearly 40 of which are in Canada. And, they continue to grow.

Bailey Nelsen’s core values and tight knit down to earth culture appeals to young ODs. “It drives positive energy where you can bring your true self to work without the headaches of running a business”, says Lesser.

Bailey Nelson Career Opportunities for ODs — Watch Dr. Lesser’s Full Presentation to NextGEN ODs on YouTube

She describes a highly collaborative workplace environment where a “never ending” group chat provides almost immediate support from engaged and supportive colleagues.

Bailey Nelson Optometrist Dr. Grace Sim — “I enjoy working with Bailey Nelson because I have all the freedom and control I need to manage my practice, but still have the support and resources that comes from a tight-knit company like Bailey Nelson.” Dr. Grace Sim, Bailey Nelson, Conestoga Waterloo, UW 2022

Dr. Lesser details the Bailey Nelson subleasing model which takes care of the back-office functions including reception, phone, internet, EMR, patient recall and online booking.

Bailey Nelson brand tends to attract younger healthier patients which helps to keep Optometric care simple and provides the opportunity to fulfill patients needs in an uncomplicated setting.

Dr. Lesser also presented testimonials from recent Optometry grads who found their match with the Bailey Nelson culture.

Bailey Nelson provides career opportunities for young ODs seeking young vibrant communities compatible with their culture. She outlines specific opportunities where a retention bonuses of $100,000 are available.

Click here for more information about Bailey Nelson career opportunities for young Optometrists.

You can reach Dr. Lesser directly to discuss if Bailey Nelson career opportunities are a match for you.

Email: LaurieLesser@BaileyNelson.com
Phone: (236) 412 9911 (Canada)
Phone (954) 401-2476 (USA)

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Optometry Student Writing Contest Winners Announced

NextGenOD

The Optometry student winners of the APERTURE Writing contest have been announced by the Canadian Association of Optometry Students (CAOS). As a sponsor of the APERTURE Writing Contest, NextGenOD and Eye Care Business Canada have awarded prizes for the top 5 optometry student winners of the contest.

Aperture Optometry Student Magazine cover 2023 — Aperture Cover 2023

The top entries were selected by the CAOS communications directors by an anonymous voting system where personal identifiers were removed. Then, the entire CAOS executive team at University of Waterloo which comprises over 20 students, excluding the communications team, votes on the winners.

The first-place winning entry entitled “Lessons from a Superfield Lens” by Jenny Lee (4th year University of Waterloo) recounts a whimsical imaginary conversation with various optometric armamentarium which dispels her fears of being replaced by technology.

The second-place entry, by Shannon Huges (3rd year University of Waterloo), shares results and lesson ingrained from of her first real patient refractions in, “If It Ain’t Broke, Don’t Fix It“.

Simply entitled, “Foresight“, third-place winning entry by Judit Antonyrajan (3rd year University of Waterloo) celebrates optometry scope of practice advances that have been achieved and opines on the promising future of the profession.

Here is the full list of APERTURE contest winners and NextGEN OD cash prizes. Congratulations to all of the participants.

1st Place Jenny Lee ($150)
2^nd Place Shannon Hughes ($125)
3^rd Place Judit Antonyrajan ($100)
4^th Place Jennifer Li ($75)
5^th Place Kiratpal Hothi ($50)

In addition the cash prizes, optometry student winners will be recognized by publishing their entries in NextGEN’s parent company publications, including Optik Magazine, OptikNOW and Eye Care Business Canada, reaching over 10,000 Canadian eye care professionals. Look for the winning entries to be published later this year.

The 2023 issue is the seventh Aperture Magazine publication. The optometry student publication strives to reflect the voices of future Optometrists in the ever-changing landscape of the profession.

View the winning entries in APERTURE Magazine.
See Contest Announcement.

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Socrates Triple Filter Test: A Primer for Good Office Culture

DR. TREVOR MIRANDA

Impact of Increasing Interest Rates

JACKIE JOACHIM

5 Tips to Financial Freedom

ROXANNE ARNAL,

Diversity and Inclusion in Eye Care

Gender Identifications

Frame Choices for Everyone

Ageism

Training for the Team

DR. TREVOR MIRANDA

3D Scan Technology vs. Clinic Methods: U de M Study Results Published

A Guide to Overcoming Optometry Board Exams: The Last Hurdle

JENNY LEE, OD

Specsavers and the Canadian Council of the Blind Announce Sponsorship to Champion Vision Health

Optometry Diversification Generates New Steady Revenue Streams

DR. TREVOR MIRANDA

Bailey Nelson Career Opportunities -Find Your Fit

Optometry Student Writing Contest Winners Announced

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