Episode 32: Dr. Scott Mundle on Optometry Giving Sight

Eyes Wide Open, Podcasts

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Dr. Scott Mundle provides a historical perspective on Optometry Giving Sight (OGS), its mission and current activities. He and Eyes Wide Open Host, Roxanne Arnal, talk about the benefits of giving and how contributing to social programs can help personal happiness and make business sense. Dr. Mundle, UW (’83) has been active in the service of Optometry since early in his career. He is the past-president of the Manitoba Association of Optometrists and the Canadian Association of Optometrists, and Past President of the World Council of Optometry.  Dr. Mundle serves as the OGS Canada Member Representative.

Dr. Scott Muncle

About the Guest

While officially “retired” Dr. Mundle, continues to serve the profession as a delegate of the World Council of Optometry (WCO) to the International Agendy for the Prevention of Blindness.

Married to University of Waterloo, School of Optometry classmate Dr. Michelle Georgi, the couple has three children. On chance that any other free time presents itself, Dr. Mundle dedicates it to sporting activities, including cycling and fishing.

Episode Notes

Dr. Scott Mundle provides an update on his active “retirement” with Roxanne Arnal, including his recent personal and professional travel agenda in support of the World Council of Optometry.

He provides an overview of the 2003 founding partners of the Optometry Giving Sight (OGS), and how its mission and priorities have shifted over time since he was first invited to chair the OGS National Committee by Dr. Scott Brisbane.

Dr. Mundle outlines the substantial activities of OGS in reaching over 8 Million patients, training 14,000 Eye Care professionals while establishing 130 vision centres in 40 different countries around the globe.

Among OGS activities is support in the foundation of Optometry Schools in developing countries, including Kenya, Eritrea, Vietnam and Haiti, the later of which was undertaken in collaboration with partners including VOSH and University of Montréal. Notwithstanding the recent civil strife in Haiti, the project contiues to train Haitian ODs successfully.

Dr. Mundle reviews the various ways that Canadian Optometrists can (and should!) participate to support OGS funding, including how his own Manitoba practice enthusastically undertook efforts.

He encourages optometry students to get involved. He detailed the friendly competition that has ensued between University of Waterloo and Univerity of Montreal CAOS chapters to creatively one-up each other in generating support for OGS.

Finally, the discussion goes toward the benefits of funding by providing research facts on how social causes influence consumer choices of business and services. Dr. Arnal references a recent “must read” book called “Happy Money: The Science of Happier Spending“, on how spending money can elevate our happiness (See Resources).

Resources

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.

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Adulting 101: Part 2

Building Wealth, Finance|Wealth

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Adulting

You will recall last month’s article, Adulting 101: Part 1, a two-part article series that covered setting up your life and career. In this installment, we’re going to review understanding your money and provide a brief recap of your next steps.

Part 2: Understanding your Money

Money, Money,—Money  Money!

Cash in, cash out, taxes, saving for short term goals AND retirement, and debt repayment. Working with an advisor to lay out your cash flow planning will ensure that you don’t lose sight of your priorities as you head out into the grown-up world.

Shiny new cars can easily draw your attention away from debt repayment. An advisor can help keep your hands out of the cookie jar and keep you focused on building your wealth.

An accountant will be critical in assisting you with the myriad of tax deductions and credits you will want to apply to lower your income and manage your tax bill.

Your financial advisor will help you plan in advance so that you can structure your income and expenses to maximize your “in pocket” cash. Both professionals are needed and should work for you as a team.

Debt
All debt is bad, but some debt is actually better than other debt and the order in which you repay your debts does matter. It is key to always repay your worst debt first – that dreaded credit card debt. It is consumer debt that costs you a lot in interest and you really have nothing from those purchases that builds up your net worth.

You are Your Greatest Asset
As you start your career, your ability to earn an income is your greatest financial asset. You will need to protect this asset. This means you will need insurance.

Insurance that protects your butt at work (malpractice insurance), insurance that protects you in the event of a liability at home or on the road and disability income replacement insurance.

You are the goose that lays the golden egg, so before you insure the value of that egg, we should discuss your needs and solutions for coverage and review the various student plan options available to final year students and new graduates.

Taxes!
Yes, as you use up your education tax deductions you will find yourself with a tax bill. Often you will be a self-employed contractor and as a result, no one will be deducting and submitting tax payments on your behalf. It will take up to two years of tax filings before the government mandates that you make tax installment payments. Which, BTW, is also not likely to be sufficient as your income grows.

So, to prevent any surprises come tax time, the best rule of thumb is to put 25% of all the income you earn (less tax installments made) into a “don’t touch” savings account.

Come the first part of the year, working with your financial advisor, you can determine a rough estimate of your taxes due and if RRSP contributions are a prudent decision for you. RRSP contributions will lower your overall tax bill but are not always the right fit based on your goals. So having that conversation in the first 30 days of the new year will help ensure that any contributions, if so warranted, are done before the 60 day deadline.

The Canadian tax system is complicated – so having experienced advisors will be key to navigating this new world where you will also want to keep receipts of various business related expenses to legally lower that bill.

Adulting is Hard
We covered a lot of ground in these presentations, including some discussion on the difference between employee and independent contractor. CPP contributions and EI premiums. T2125 forms and putting cash away for your tax bill. We touched on income variations across the country for new ODs and living expenses in a few locations. There are a lot of decisions to be made!

Easy as Pie (if pie were easy!)

  1. Be clear on your goals & desired lifestyle – download the workbook and invest the time to really review who you are and what is important to you.
  2. Align yourself with a trusted advisor – someone who understands you, your profession and your needs – now and over the many stages of your life.
  3. Protect your ability to earn an income because you are your greatest asset.
  4. Understand all contracts before you sign.
  5. Work with your advisor to create a cash flow plan that allows you to enjoy your new earned riches, build wealth, AND repay your debt.
  6. Understand tax mitigation and pay your taxes.

Related Read:
This is a two-part post. Refer back to Part 1.

Adulting 101: Part 1

Advisory
As your Chief Financial Officer, I am here to help guide you through the various adult decisions you will need to make and the next steps you will be taking. 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.

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Myopia Management Practice Experts to Present in Vancouver

Differentiation | Business Strategy, Practice, Specialty Practice

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Myopia Practice Experts

While the evidence of the long-term risks of unchecked myopia development in children is well documented, and the clinical evidence for effectiveness of different modalities is continually evolving, starting a successful myopia management subspecialty within a primary care practice remains a challenge for many.

Dr. Gary Gerber
Dr. Gary Gerber

Myopia practice management experts, including Dr. Gary Gerber and Dr. Habir Sian are among the faculty presenting at THE Myopia Meeting, to be held in Vancouver on June 11th.  The event includes 4 hours of COPE accredited continuing education and four “Clinical Review” sessions from leading device suppliers.

The Continuing Education agenda will start with a presentation from Dr. Gerber, co-founder of Treehouse Eyes. Dr. Gerber is also the founder and Chief Dream Officer for The Power Practice®, a practice building and consulting company.

Dr. Gerber spoke with Eye Care Business Canada. “It’s been a while since I’ve spoken in Canada, and I’m honored to be invited to kick off  THE Myopia Meeting. I’ll be sharing the two most important sentences you need to grow your myopia practice. What you say to parents, how and when you say it, can be the largest determinants or detriments to creating an explosive myopia management practice.”

Dr. Gerber’s bona fides in this area are well founded: Treehouse Eyes is the first North American organization dedicated exclusively to providing myopia management services to children. His presentation is based upon the Treehouse experience in treating thousands of children.

Harbir Sian, OD
Dr. Habir Sian

Dr. Harbir Sian is the co-owner of two optometric practices in the Vancouver area. Dr. Sian has spent years in the clinic diving into different specialty areas of optometry, including myopia management. Dr. Sian’s 1-hour presentation, entitled, “The Myopia Startup: Implementing Myopia Management in Your Practice” is also COPE accredited.

Both presentations promise to provide thought-provoking content for those who have started up a myopia management subspecialty or are contemplating doing so.

THE Myopia Meeting Canada is  presented by Review of Myopia Management and GMAC (Global Myopia Awareness Coalition) which is comprised of a number of companies and associations partnering  globally to increase public awareness of childhood myopia, the risk of eye disease associated with myopia, and encourage consumers to ask their eye care professionals about treatment options for childhood myopia.  CRO (Clinical & Refractive Optometry) Journal is the COPE-administrator for this event.

On the clinical side, Dr. Sherman Tung, private practice owner of Eyelab in Vancouver will present, ” Orthokeratology Advanced Grand Rounds”. The event will be chaired by Dr. Dwight Ackerman, Chief Medical Editor of the Review of Myopia Management. Dr. Ackerman’s presentation, “Myopia Management from A to Z” will round out the 4 hours of COPE CE for the day.

Each of the sponsoring companies, including HOYA, CooperVision and Johnson & Johnson Vision, will present clinical reviews as part of the jam-packed day dedicated to enhancing your knowledge of myopia management from both the clinical and practice management perspective.

Registration for this event is now open. Attendee cost is $80 which includes refreshment breaks and lunch, clinical reviews and all 4 hours of COPE accredited CE.

THE Myopia Meeting (TMM) made its Canadian successful debut in Toronto in 2022. Based on the vast interest in the topic, the Vancouver edition of TMM has been added to the agenda. TMM will be returning to Toronto on December 2, 2023. Circle the date.

 

 

 

 

 

 

 

 

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How Practice Geography Impacts OD Compensation

Career Options, NextGenOD, Practice, Practice Metrics & Benchmarks, Sponsors

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Dr. Michael Naugle discusses OD Compensation models

The following subject matter is usually not discussed in an open forum, but is essential information for NextGEN Optometrists looking to land their first practice experience. Dr. Michael Naugle, VP of Optometric Partnerships FYidoctors, addressed attendees of the “Opportunities & Options for New Optometrists” event March 29.

The hybrid event reached over 150 attendees, including a live audience at University of Waterloo and online webinar participants.

While Dr. Naugle emphasized the importance of matching personal values and clinical interests with prospective practice opportunities, he noted that compensation is an important factor that can vary considerably in different situations.

USA vs. Canada | Rural vs. Urban
Dr. Naugle addressed the realities of how the geographic setting of a practice could impact OD compensation. He covered the expected differences in net earnings for optometrists in USA versus Canada. He explained how the different compensation models generate the perception that OD incomes are higher in the USA but further explained how other factors come into play to make Canadian compensation potentially more attractive.

Dr. Naugle elaborated on the “pillars of compensation” and presented details on how compensation might vary in different Canadian provinces and in urban versus rural practice settings with specific examples.

How Practice Geography Impacts OD Compensatin
View Dr. Naugle’s full presentation by clicking the play button above.

He advised new optometrists to dive deeper than the simple “percent of total gross billings” as other critical factors will outweigh this “top line” figure, citing specific questions that associate NextGen ODs need to ask to determine the income potential in specific practice situations.

Recently, Dr. Naugle was interviewed by NextGEN OD Ambassador, Nyah Miranda regarding the FYidoctor’s Future Vision Leadership Program.  
Click the link to listen to this recent discussion.

 

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What’s AFZ – The New Business Imperative

Human Resources, Managing Others

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THE AFZ is ignoreed

It’s time for us all to stop dancing around a critical issue and discuss the unmentionable. Ask yourself – are your employees, especially managers, serving you well or holding you back?

Here’s the deal. There’s a widening gap between what we ask our staff to do and where their real value lies, and in a market where attracting, engaging, and retaining talent has become a critical strategic imperative for so many organizations, we must stop politely looking the other way.

Most Managers are Good People
This is especially important for the managers. Your practice may have an official office manager by title or one that is appointed a leader amoung equals.  And, many of these are great people who churn out consistently superior results.

They share one important thing in common: they are managers of people, stewards of the human element first and doers of tasks second.

They focus on optimizing the fit and chemistry within the team and are obsessive about maintaining respectful, supportive relationships, both individually with each member of their team and among members of the team. There’s no room for misalignment, cross purposes, or unhealthy conflict on a winning team. They are masters of relationship and fit.

Yes, I said it “AFZ”
Let me say that again – the primary role of a manager must be that of master of relationship and fit. If an organization is serious about keeping their best people and engaging them fully, one key imperative must be to create and maintain an AFZ (Asshole-Free Zone).

It’s not terribly technical, but everyone understands and identifies immediately with the concept and its importance. We have all experienced working with a great manager and with a not so great manager at different points in our career, and we can quickly identify how our energy, productivity and commitment to excellence was different in each circumstance.

Your managers will make or break you. They are either talent magnets, or talent repellent. You probably also know who falls into which camp – and if you don’t, it’s not hard to find out.

Check your turnover rates, your your error rates, your attendance records, the comments about your company on Glass Door, or better yet, have a coffee with some of your folks and ask them straight up. Always do an exit interview.

An astonishing number of organizations we speak with know exactly who their ‘problem’ managers are, and yet they rationalize it. They turn a blind eye to the problem, ignoring it entirely.

‘Bob’s been here since day one, he knows our whole process is technically very sound’, they might say, or ‘I know he’s hard to get along with, but … [insert excuse #23]’.

Don’t kid yourself. The costs of failing to maintain a firm AFZ policy are all over your P&L; you just need to have the eyes to see them.

TIM BRENNAN

is Chief Visionary Officer with Fit First Technologies Inc, the creators of Eyeployment, TalentSorter and Jobtimize.

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Residencies and Fellowships: Is There a Point?

Career Options, NextGenOD

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Opportunities for NextGEN Optometrists

Dr. Sophia Leung is at the cutting edge of the transformation of primary care Optometry to the medical model.

As a residency-trained and fellowship-trained optometrist with a clinical emphasis on the cornea, advanced glaucoma, and anterior segment disease, she calls upon her own experience to provide insights on the benefits of residencies and fellowships and provides concrete advice on finding the right match for young ODs.

After spending five years in private practice, Dr. Leung pursued an Ocular Disease and Refractive Surgery Residency in the US followed by an Advanced Glaucoma and Cornea Fellowship.

This led her to her current position as Principal Optometrists at a high volume corneal, cataract, and refractive surgical centre in Calgary, AB.  Dr. Leung is developing an OD-to-OD referral model the enhance patient access to ophthalmologic care that also increases time efficiency for ophthalmologists.

Dr. Leung is a Diplomate of the American Academy of Optometry in the Anterior Segment Section, the first Albertan and Canadian to do so.  She is President-Elect of the Alberta Association of Optometrists.

You can view her full presentation by clicking the play button below.

Dr. Sophia Leung discusses Residencies and Fellowships

Earlier this year, Dr. Leung was the guest on Eye Care Canada’s Eyes Wide Open Podcast.

She and host Dr. Roxanne Arnal discuss their personal and professional insights on mentorship, professional collaboration, and the evolution of optometry. They also delve into stress and practitioner burnout and point to a few interesting reads on the topic.

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Industry Event Informs Canadian NextGen ODs on Career Opportunities

Career Options, NextGenOD

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next Gen OD webinar

In a uniquely formatted event, Canadian Optometry students were treated to the perspectives of both recent OD grads and insights of seasoned experts showcasing the opportunities and options available to them as they forge their professional careers.

The event was held simultaneously live to 100 students at University of Waterloo, School of Optometry and Vision Science and via online webinar to an expanded North American audience of young Canadian optometry students, including those studying in US Schools, including New England College of Optometry and others.

Bausch + Lomb Canada and Eye Care Business Canada | NextGen OD co-presented the event which was sponsored by B+L partners including Bailey Nelson, Eye Recommend, FYidoctors, and the IRIS Group.

NextGEN OD ambassadors Jenny Lee (OD-4 Univ. of Waterloo) and Nyah Miranda (OD-1 NECO) co-hosted the event, which presented six speakers, which was capped off with a panel Q&A and prize draws of over $1000 valiue.

YouTube Ravi Tanna
Watch Ravi Tanna’s Introduction to the NextGen OD Event – March 29, 2023. Tanna opens the event with his deeply personal account of his Best and Worse days relating to his own eye care.

Speakers Share Perspectives

Dr. Sophia Leung, President-elect of the Alberta Association of Optometrists provided advice on pursuing residencies and fellowships based on her own experience.

Dr. Michael Naugle, VP of Optometric Partnerships, FYidoctors, provided a very detailed assessment of the various OD compensation models, particularly as they relate to practicing in USA versus Canada and in various geographical settings; urban versus rural within Canada.

Dr. Mark Langer, IRIS Practice Owner in BC, shared his unique path to to practice ownership from Pacific College of Optometry (Oregon) to ownership of a community-based practice in the Okanogan Valley, having to wrestle with the decision to practice in Canada versus USA along the way.

Dr. Matthew Harrison, practicing in an Eye Recommend Practice in SW Ontario, shared his perspectives on the benefits of “Independent Practice”, including details on the Associate Signing Bonus Program offered by Eye Recommend.

Dr. Laurie Lesser, Eye Care Director, Bailey-Nelson North America and UK, provided a history of the chill Aussie Brand retailer addressing the importance of work-life balance in an optometric career.

Over $1000 of Prizes

Following the Q&A  , all event attendees were entered into a random prize draw. Here are the winners:

Clinical & Refractive Optometry Annual Subscription/Complimentary CE:
Amanda Leong (UW 2026)

Bailey Nelson Quality Sunwear:
Bethany Lo (UW 2023)

Eye Recommend $100 Gift Cards award to three attendees:|
Amy Wang (UW 2024)
Sarah Long (UW 2025)
Jean Nasta (UW 2026)

FYidoctors $100 e-gift card:
Alexander Rozbacher (UW 2024)

IRIS Group iPAD winner:
Vyshnavi Satyajit (NECO 2024)

Photo Gallery – Live Event Univ. of Waterloo

Live Event Univ. of Waterloo Live Event Univ. of Waterloo Live Event Univ. of Waterloo Live Event Univ. of Waterloo

 

 

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Potential vs. Pedigree

Human Resources, Talent Acquisition

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Do resmues tell the truth?

Talent acquisition is challenging these days! And while many positions in our industry do have specific degree or licensing requirements, it is not always the case. And even in the scenario where a specific license is required, e.g. Optician or Optometrist, the following scenario applies.

The Obvious Choice

Consider this – you are hiring for an Operations Manager position in your practice and have two candidates filter to the top. The first person has a college degree and ten years of progressive experience working in a comparable partice within the industry. The second candidate also has a degree but a bunch of blind spots on the resume – points in time that are unaccounted for or filled in with part-time consulting.

The first candidate is the best choice, of course. Clearly, with a degree and all that experience, they must be able to hit the ground running. Right?

Maybe. They certainly have the experience asked for in the job description and have been with your competitor for a decade. If they’re so good, though, why are they moving on? They may be looking for advancement or simply not loving the job anymore. They may be faltering, know layoffs are coming, or just be looking for a change. Or maybe there’s no more room to grow there. Will you ever know for sure? These questions won’t have obvious answers on a resume and will only get you well-rehearsed responses in an interview.

If you dig a little deeper, you may find that the second candidate’s resume is slightly irregular because they traveled to some interesting places and explored the world for a little bit. Maybe they did some humanitarian work. You might also find that they took some time to stay home with newborn twins during COVID while also providing care to an aging parent!

These things might be considered vague on paper and get them black-listed by most Applicant Tracking Systems, but they may make a well-rounded individual that could actually be much better suited for the position. They are clearly curious and responsible. They show dedication and commitment and can manage multiple challenges simultaneously.

Skills Based Hiring

Skills-based hiring is a hot topic of conversation right now, and we’ve been talking about it for decades. Hiring based on skills is all about looking beyond the surface and exploring what unique talents are not immediately visible and certainly not emphasized on a resume. Experience and education don’t always translate to job performance, and you may overlook game-changing candidates who don’t fit the mold. If only there were a way to see the person’s potential, not just their pedigree.

Oh, wait. There is.

It’s shockingly accurate and allows employers to change the narrative and transform their workplace.

If you are at all familiar with us, you know that we preach the importance of looking beyond the resume, to better understand the essence of the person behind it. Resumes can be crafted exceptionally well and, with the advent of rapidly advancing AI like ChatGPT, may not have even been written by the candidate at all. The advantages and benefits of skills-based hiring are numerous but boil down to a simple approach that can change the world for all involved.

Using skills-based hiring you can reduce or eliminate bias in the hiring process. The content of a resume is open to interpretation and bias, and education and experience don’t necessarily equate to performance. Candidates with the skills to complete the job may not have taken the traditional path in developing their talent and likely won’t always have a formal education.

However, just because someone didn’t attend a cordon bleu culinary program doesn’t mean they can’t cook spectacularly. Spending years in a family restaurant business or even in your grandma’s kitchen may not land well on a resume, but that doesn’t mean there isn’t a Michelin-star quality chef in there.

Finding the Right Fit

So, how do you find these amazing people? By looking below the surface. Fit First Technologies uses patented, science-based technology to truly understand who a person is, how they tick, and what they are best suited for. Looking beyond the words on the resume gives you a deeper and far more valuable understanding of what a person is made of, how they will fit in your business and click with co-workers and your company. Employees that are happy, fulfilled and able to make a contribution to their company will ultimately onboard faster, perform better and stay longer.

What this all boils down to is a candidate’s potential vs. their pedigree. When you look beyond the narrow, myopic focus on education and experience, the talent pool will naturally widen to include people who are exceptionally great candidates who don’t meet the traditional criteria. “Great people, in surprising packages”, as one client put it.

Everyone knows that grandma’s cooking is the best, and those recipes, traditions and values are learned –  not through formal training, but through immersion in the experience and love for the process (and the delicious outcome).

TIM BRENNAN

is Chief Visionary Officer with Fit First Technologies Inc, the creators of Eyeployment, TalentSorter and Jobtimize.

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Adulting 101: Part 1

Building Wealth, Career Options, Finance|Wealth, NextGenOD

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Adulting

As I sit here in the airport between flights, on my way home, from speaking with the students at the University of Waterloo, School of Optometry & Vision Science, I’m still running on the high of their energy and enthusiasm for the future!

So, in the spirit of the presentation, this two-part article is a great summary for everyone who wasn’t able to make it, and for those who would just like a brief recap!

Part 1: Setting up your Life and Career

The Infinity Circle that is Your Financial LifeThe Infinity Circle that is Your Financial Life

It all starts with You! You will earn an income – You will have expenses, and the greatest of these over your life will be TAXES (search YouTube or Facebook for the fun 30 second clip of Dony playing Monopoly). The goal is to keep your expenses less than your income so you can generate excess cash.

Excess cash that can then be used to purchase businesses. Businesses like your own clinic, commercial property, or profitable, well established market investments. These businesses will also earn revenue and manage expenses to create excess cash that can be used to reinvest in the business and provide you with an income such that, over time, the circle on the right replaces your need to actively work. That is what we call Financial Freedom.

Earning an Income and Contracts

Most young ODs will start their career as associate doctors. When reviewing various contracts, it’s important to be aware of some key questions to ask and terms to negotiate:

  1. When and how often are you expected to be present to see patients?
  2. How are patients going to be booked with you? Are you given all new patients? Is your schedule filled only after the senior doctors are fully booked two weeks out? Are the support staff eager and encouraged to book appointments with new doctors?
  3. Are there any dispensing or product sales quotas or targets?
  4. How is your renumeration calculated? If you elect to have a future ownership stake in the practice, will you be given any goodwill credit?
  5. Are there current and past contracted doctors that you can speak with? You will want to know the ease with which clinical days are filled with patients, what kind of patients, and any other expectations that they discovered while working there that weren’t discussed ahead of time.
  6. Are there any non-solicitation clauses on exit regarding patients and staff? Do you understand them and the penalties that would apply if broken.
  7. Are there any non-compete clauses? In most cases where you will not have an ownership stake in the business, these are often removed or restricted to a small and reasonable area and time frame as many have been challenged in court.

Sweetening the Deal

Often today you will see signing enticements such as a “golden handshake”, “loan forgiveness” programs, moving allowance, etc. You can negotiate these, but you should also understand when such payments will be received and any repayment terms if the relationship doesn’t work out.

I want to remind you that nothing is ever free – so be sure you understand the strings attached.

It’s Not Work-Life Balance because it’s all Your LIFE

I’ve never been a fan of the term work-life balance. It’s all your LIFE – so it should bring you joy.

We have created a Lifestyle Desires Checklist specifically for young ODs that takes a deep dive into your personal wants for your life (as you see it now), your professional wants, and then you will need to prioritize them.

The checklist also covers off considerations around different geographical locations and what they have to offer based on what you love to do, such as mountain biking, kayaking, attending the ballet.

And lets not forget to cover off how you ideally want to practice; everything from the number of hours you want to commit to clinic time, as well as ease of vacation opportunities and future education.

This checklist* is designed for you to get clarity on what is truly important to you as you head out into that Adult World!

*To download the checklist, please visit our website @ c3weatlhadvisors.ca. It is located under the resources tab.

Practice Culture and Locale Lifestyle

Consider spending some time at practices you are considering joining. Culture matters and you’ll want to get a good feel for the community.

  1. How do team members interact?
  2. What types of patients are typically seen at the office?
  3. How does the office handle patient needs that are beyond a “basic eye exam”?

It is important to understand the community into which you are choosing to practice and are considering living in, as this will enrich your life outside of the clinic.

Related Read
This is a two-part post. Here is part 2.

Adulting 101: Part 2


Advisory

As your Chief Financial Officer, I am here to help guide you through the various adult decisions you will need to make and the next steps you will be taking. 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.

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Resumes on Trial

Human Resources, Talent Acquisition

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Let’s be real. Have you ever stretched the truth on a resume? Maybe nudged your marks a bit higher or embellished your job responsibilities just a smidgeon to add some flair and polish? Chalk it up to being aspirational, perhaps. Jobseekers view the job market as an audition, and they know that putting their best foot forward may require some creative optics (pun intended).

These flourishes are far more common than you may think. HRDive found in one study that a third of Americans admitted to lying on their resume, while other studies estimate the actual number is higher. The reality is resumes are marketing tools designed specifically for self-promotion. Jobseekers can craft and draft content around what they think an employer wants to hear to give them an advantage over other potential candidates.

The Truth about Resumes
Here’s the real issue. Even if a resume is 100% accurate, the information in it is the statistically weakest predictor of someone’s likelihood of success in the job.

A resume is simply not a good reflection of a person. It is just a tailored list of education and experiences. It’s a brief snapshot that doesn’t shine a light on the truly important stuff – how a candidate makes decisions, manages change, or deals with disagreements. All the stuff you really need to understand.

Credentials may be qualifiers for very specific positions as is often the case when seeking a particular qualification such as an optician or optometric assistant. However, those qualifications aren’t reliable predictors of how an employee will integrate with your team, how they will perform or how long they will stay. Here’s the secret – you need to invest in resources that focus on finding people who will fit in your reality, not people who have the best resume writing skills.

Understanding a candidate better through an assessment can save you a lot of time in the hiring process and money in the long run. Spend more time on the right candidates and less time filtering through stacks of resumes. When you hire for job fit you are more likely to hire an engaged and passionate employee. Not only that – you may be very surprised to find your next superstar was hidden by barriers well beyond their control.

Fit First Technologies helps you see the real person behind the resume. Looking beyond the resume is exactly what you need to do to hire the right fit.

TIM BRENNAN

is Chief Visionary Officer with Fit First Technologies Inc, the creators of Eyeployment, TalentSorter and Jobtimize.

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