Author: blavigne

Using Virtual Reality Headsets in Optometric Offices

Independent SightLines

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Have you ever played a game in one of those modern VR headsets? To the outside world it appears you are swinging wildly at ghosts because on the inside you are swinging wildly at ghosts?!

Well, get ready because VR headsets have become mainstream in optometry offices. The greater mobility of the testing equipment has led to potential for better office and workflow efficiencies and greater patient accessibility.

In the Lane Testing

Having multiple exam lanes for each optometrist improves patient flow, reduces patient waiting times and allows for greater efficiency at deploying medical personnel. Instead of the optometrist waiting for a patient to be “set up” in the exam room, the doctor can be examining a patient in the other room. This efficiency translates to better revenue per doctor day (and improved compensation) as well as improved bottom line net profitability. With the advent of in-lane VR headset testing a patient can “start” the pre-exam testing in the comfort and privacy of an exam lane.

Consistency and Reduced Staff Time

The VR headsets allow for a “virtual” technician that guides the patient through the testing process. This provides a consistent process with consistent education and testing instruction provided to each patient. A patient can be “left” in the exam room and run the testing on their own. As patient testing autonomy becomes more commonplace, the process will become an expected part of the testing and patient education during the eye exam. In many multi-doctor optometry offices, the pretest room has become the bottleneck for office patient flow. The advent of advanced scanning such as OCT and super wide-field fundus photography has changed the optometrist’s role from data gathering to data analysis and treatment plan formulation.

AI and Data Analysis

With the advent of artificial intelligence and machine learning, the opportunity to provide AI Insights for optometric practitioners is now here. Universal VR testing platforms can easily send data and testing results to cloud based telehealth platforms for analysis and AI insights as a adjunctive practitioner support to the patient treatment plan. RetinaLogik is a Canadian based VR headset that is using AI to support practitioners in the care of their patients.

Cloud-based data management companies can further provide objective feedback and AI insights. Care1 is a Canadian telehealth company that has developed objective drusen volume computations. This will allow for treatment analysis as new technologies for the treatment of dry AMD become available for patients inside optometric settings.

Binocularity for All with Marketing Support

Neurolens has recently launched their mobile VR headset N3, which provides the ability to run phorias and fixation disparity via a VR headset. The interesting aspect to their set up is that optionally the patient can learn more about solutions and opt in to further discussions with their optometrist and optometric staff. This makes the sales process more streamlined and consistent. One of the powerful realizations of VR testing is the “wow effect” that patients experience during the testing process. This increases the perceived value of the eye exam and improves capture rates and patient retention.

Future Applications

Many of the software companies that offer virtual reality testing are using the same hardware headset. This may lead to future consolidation so multiple pre-exam tests can be provided without changing headsets. The potential for patients to further streamline the examination process exists in that patients could come in for technician standalone pretesting to improve the exam day workflows. Testing remote populations and at-home testing are becoming a likely outcome with these new mobile technologies. In our offices we see the opportunity to reduce patient logjams in pre-exam on the fly. Technicians can decide to run visual acuity testing, visual fields, colour vision, and other testing away from the pretesting room to reduce patient wait times. The time to welcome VR testing in our optometric offices has arrived!

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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OGS Earns Four-Star Rating From Charity Navigator

Human Resources, Leadership, NextGenOD, Sponsors

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Optometry Giving Sight 4-start rating

Optometry Giving Sight (OGS) has earned a Four-Star Rating from Charity Navigator for its strong financial health, ongoing accountability and transparency. This rating designates Optometry Giving Sight as an official “Give with Confidence” charity, indicating that OGS is using its donations effectively based on Charity Navigator’s criteria.

Charity Navigator is America’s largest and most utilized independent charity evaluator. Since 2001, the organization has been an unbiased and trusted source of information for more than 11 million donors annually.

Charity Navigator analyzes non-profit performance based on four key indicators, referred to as beacons. Currently, non-profits can earn scores for the Impact & Results, Accountability & Finance, Culture & Community, and Leadership & Adaptability beacons.

“We are delighted to provide Optometry Giving Sight with third-party accreditation that validates their operational excellence,” said Michael Thatcher, President and CEO of Charity Navigator. “The Four-Star Rating is the highest possible rating an organization can achieve. We are eager to see the good work that OGS is able to accomplish in the years ahead.”

“Our Four-Star Charity Navigator rating is further validation that our supporters can trust our commitment to good governance and financial health,” said OGS Executive Director Lois Schoenbrun, CAE (Ret.), FAAO. “As we work with our partners to eliminate unnecessary vision impairment in the U.S. and around the world, we want our donors to know that we appreciate them and value their trust in us.”

Optometry Giving Sight supports sustainable and scalable optometry-led programs that educate eye care providers locally and enable the establishment and delivery of vision care and eye health to all. In 2023 alone, OGS is funding 21 programs globally, totaling more than $900,000 USD.

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Six Mistakes to Avoid when Borrowing for Your Business

Building Wealth, Finance|Wealth, Planning, Sponsored Posts

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6 mistakes to avoid when borrowing

Leveraging to enhance your business growth is key to your wealth creation. Here are six mistakes you should avoid when setting up your next business loan.

  1. Making a Weak Pitch

If you want your banker to get onboard, it is critical that you go in with your needs and desires well laid out. Why do you need this expansion? How will it increase your revenue? Understand your business plan and cash flow projections and be able to articulate it well.

  1. Waiting Too Long before Borrowing

I get it, no one likes debt – but leveraging to grow your business is the best type of debt. This is debt that can grow your net worth and where you can typically write off the interest for tax purposes. Paying upfront for your expansion plans can place undue stress on your cash flow. Consider a business loan or lease to take advantage of tax benefits and boost your growth sooner rather than later.

  1. Requesting Too Little

Having a deep understanding of your business plan and cash flow projections will help to ensure that you request sufficient funds. You want to avoid ending up in a crunch that actually results in slowing your business growth because you don’t have sufficient funds to promote your new service for example.

  1. Assuming that Interest Rate is Everything

Yes, interest rates matter, but they aren’t the whole story. You’ll want to consider the terms that the lender is offering. Over how long a period will the bank lend you their money? How do those payments fit in with your revenue growth projections? Are there prepayment options without penalty? What guarantees do you have to provide to secure the loan?

  1. Rapid Repayment

This goes back to cash flow again. If your cash flow increases substantially more than you had anticipated, use that to create further growth and wealth creation opportunities, especially if you will be subject to pre-payment penalties. Remember, none of us truly know what is coming down the pipeline (anyone remember COVID-19 shut downs?), so having some extra cash at the ready is never a bad thing. Avoid tying up your cash unnecessarily.

  1. Not Having Sufficient Leading Relationships

We like to think that by doing all our business with one institution that we will get the best offerings. However, business banking and leasing relationships aren’t what they used to be with the consolidation of branches and employee turnover. Likewise, should something go south, you don’t want to be stuck with just one lender holding all the cards, ultimately tying up your business success. It’s worth your time to shop around and ensure that any lender isn’t locking you into tied selling – it’s illegal BTW.

Advisory

As your Chief Financial Officer, I am here to help you make smart financial decisions that align with your business growth, personal wealth creation strategy and long term interests. Helping you understand your money and assisting you in making smart decisions about your debt repayment, insurance protection, tax management and wealth creation, are just some of 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 excel in. 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 to Empower 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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Workplace Conflict (Part 2): Causes and Resolution Tips

Human Resources, Managing Others, Sponsored Posts

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Worklace Conflict

Let’s talk about the key reasons why addressing clinic conflicts is essential:

  • Workplace Morale and Productivity: Unresolved conflicts can create tense and aggressive work settings, negatively impacting employee morale and productivity. By addressing conflicts promptly, organizations can maintain a positive work environment and ensure optimal productivity.
  • Staff Turnover and Absenteeism: Prolonged conflicts among employees can lead to increased staff turnover and absenteeism. When employees face constant conflicts, they may seek employment elsewhere, resulting in talent loss for the clinic. Resolving conflicts can help retain valuable employees and reduce absenteeism.
  • Legal Implications: Office conflicts left unaddressed can escalate and lead to legal problems for the practice. Harassment or discrimination claims can arise from unresolved conflicts, resulting in costly legal battles. Proactively resolving conflicts can help prevent such legal implications.

  • Work Performance: Workplace conflicts can significantly impact work performance. Employees experiencing conflicts may feel stressed, anxious, and unmotivated, leading to poor work performance. By addressing conflicts and fostering a supportive work environment, organizations can enhance employee well-being and productivity.
  • Toxic Clinic Culture: Frequent conflicts among employees can contribute to a toxic Clinic culture. Disagreements and unresolved conflicts can create a negative work environment, affecting employee satisfaction and overall clinic culture. Addressing conflicts promotes a positive and inclusive clinic culture.
  • Negligence and Patient Experience: When employees spend excessive time and energy on arguments and conflicts, their focus on their duties may diminish. This negligence can result in decreased patient satisfaction and a negative impact on the clinic’s reputation. Resolving conflicts allows employees to focus on delivering exceptional patient experiences.
Identifying the Causes of Clinic Conflicts

To effectively address and prevent clinic conflicts, it is crucial to understand their underlying causes. Let’s explore some common causes of clinic conflicts:

  1. Unclarified Job Roles and Poor Responsibility Distribution

Unclear job roles and responsibilities can lead to confusion and conflicts within the practice. When employees do not have a clear understanding of their roles, misunderstandings and disputes can arise. Additionally, when unofficial supervisory roles are assigned without proper communication, jealousy and resentment can increase.

  1. Lack of Opportunities

A lack of growth opportunities within a clinic can contribute to clinic conflicts. When employees perceive a stagnant work environment or observe colleagues receiving promotions while they feel left out, tensions can arise. It is crucial for clinic to provide equal growth opportunities and communicate transparently about career advancement.

  1. Unhappy Employees and Poor Work Environment 

Unhappy employees and a negative work environment can be significant contributors to clinic conflicts. Poor communication, assumptions about personalities, and a lack of trust among colleagues can lead to conflicts. Practice’s should prioritize fostering a positive work environment and encourage employees to resolve their differences in a timely manner.

  1. Personality Differences

Personality clashes can be a common cause of workplace conflicts. When individuals respond to challenging situations in unproductive ways, disagreements can escalate. It is essential for employees to develop emotional intelligence and respect each other’s differences to minimize conflicts.

  1. Unrealistic Expectations

Overloading employees with excessive workloads or setting unrealistic expectations can contribute to clinic conflicts. When employees feel overwhelmed or unable to fulfill their responsibilities, conflicts may arise. Practices should strive to strike a balance between workload and employee capacity to prevent conflicts.

  1. Unclear Company Policies

Clear and transparent company policies are essential for avoiding conflicts. When employees are uncertain about procedures or perceive a lack of fairness in policy implementation, conflicts can arise. Practices should ensure that policies are well-communicated, understood, and consistently enforced to minimize conflicts.

  1. Unresolved Harassment Issues

Unresolved harassment issues can lead to clinic conflicts. If employees are experiencing conflicts with colleagues and the root cause is not addressed, aggression and tensions can escalate. Practices should have proper channels for reporting and addressing harassment issues promptly.

  1. Lack of Promotions

Perceived biases in promotions can contribute to clinic conflicts. When employees feel that they are not being appreciated or that promotion decisions are unfair, resentment can arise. Practices should implement fair and transparent performance evaluation systems to minimize conflicts related to promotions.

 

 

Solutions for Resolving Workplace Conflicts

Resolving workplace conflicts requires proactive intervention and effective communication. Here are some solutions that can help address and resolve conflicts in your clinic:

  1. Focus on the Future

When resolving conflicts, emphasize the importance of moving forward and finding solutions rather than dwelling on past grievances. Encourage employees to develop a proactive mindset and work towards a positive future.

  1. Establish Strong Company Guidelines

Establish clear guidelines on how employees should handle conflicts and seek resolution before involving management. Encourage employees to address conflicts among themselves, promoting a culture of personal responsibility and accountability.

  1. Provide Conflict Resolution Training

Invest in conflict resolution training for employees and leaders. Equipping them with the necessary skills to navigate conflicts effectively can significantly reduce clinic conflicts.

The overall key to creating a supportive and conflict-free clinic culture depends on the level of emotional intelligence your team has to properly implement these solutions.

To create a supportive and conflict-free workplace culture, clinics must prioritize increasing the emotional intelligence amongst the entire team to build stronger relationships that can weather challenges. By providing your team with training, you will reap the benefits of a team that can self manage their own conflicts and arguments without turning them into something bigger.

Remember, workplace conflicts are inevitable, but they can be effectively managed and resolved with the right solutions in place. By understanding the causes of conflicts and implementing the appropriate resolution techniques, clinics can create a positive and productive work environment for their employees.

For resources on Conflict and Argument Management visit www.emotionalintelligenceconsultinginc.com

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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Enhancing Vision and Changing Lives Through a Partnership-based Business Model

Differentiation | Business Strategy, NextGenOD, Perspectives, Practice, Sponsors

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Dr. Stephanie Kwan, optometry partner, and Rachel Perez, retail partner, reflect on their partnership and experiences in changing lives through better sight with Specsavers.

Q: What are you hearing from patients and customers at your location?

Dr. Kwan: We’ve had some incredibly meaningful interactions with our patients. One had come in with her daughter and was looking for help with her sight to do her hobbies like crosswords. She had already experienced some vision loss due to age-related macular degeneration. I gave her high plus readers to help her do what she enjoyed most, and she grabbed my hand in thanks and told me how much I changed her life.

Rachel: I had a woman who came in during my first week at Specsavers who hadn’t had new glasses in 12 years because she wasn’t able to afford them. She was so thankful that she was now able to buy not only one, but two pairs at Specsavers. When she thanked me for helping her with tears in her eyes, I nearly started to cry myself. This is the Specsavers difference.

Q: What has inspired your journey within the optical industry?

Dr. Kwan: A part-time job at a local clinic during university sparked my interest in optometry. Coincidently, my great-aunt and great-uncle were patients, and I thought to myself, ‘how great would it be to be the one examining their eyes?’ After a few months, I took steps to pursue a career in optometry. Today, I am a graduate of the Illinois College of Optometry.

Rachel: After graduating with a degree in human resources, I felt uninspired and disheartened in the job market. I discovered my passion for opticianry through a friend’s enthusiasm of her own career in the industry. I decided at that point that I would pursue it wholeheartedly and took the necessary steps to become an optician.

Q: Tell us a bit about yourself outside of the clinic or business.

Dr. Kwan: I am passionate about continued education and self-learning. As a Fellow of the American Academy of Optometry, I stay up to date with the latest advancements in the field. I have also participated in two clinic mission trips to Belize and Colombia in the outskirts of the cities where we provided care for those who do not have easy access to eyecare.

Rachel: Working with food banks has always been very near and dear to my heart, so I have always loved supporting local food drives. I have also volunteered with the Canadian National Institute of the Blind and their Special Olympics. Outside of work, my 8-year-old daughter is really my world.

Q: Since opening Specsavers CF Lime Ridge, how would you describe how business is going?

Rachel: Being the second store in Ontario, the volume of eager shoppers exceeded our expectations. We take pride in our high-quality service score (NPS) of 86.6%. Specsavers strives to meet a platinum standard of service by delivering an enhanced experience, personal gestures and happy moments. Our team is dedicated to meeting this standard, and our customers are recognizing it.

Dr. Kwan: The first few weeks after opening my independent clinic at Specsavers CF Lime Ridge happened so fast. It felt like starting a new job with feelings of nervousness, excitement, joy and adrenaline – but multiplied. I was thrilled at how fast the schedules were being booked up and how many patients wanted to give us a try. Soon, marketing was kicking in and the word of mouth was spreading. There are so many people who were eager to come try us out. It’s been a fantastic journey so far.

Q: Is there anything about partnering with Specsavers that you didn’t expect?

Dr. Kwan: What has surprised me since partnering with Specsavers was the level of camaraderie amongst all the retail and optometry partners, the support staff, and the team who helped with commissioning week. Everyone is here to help, and there is always someone to turn to when needed. I am seeing this first-hand given my position on the Optometry Steering Group committee, where we collaborate as a network of independent doctors. Specsavers has been actively listening to support the direction we want to take eyecare.

Rachel: For me, it was the amazing team at support office, who is always willing to step in to provide guidance. I’m also so pleased with how my partnership turned out, as well. My relationship with my partner, Dr. Kwan, is so strong and we enjoy working together.

Q: Did you always want to be a business owner? What inspired you to feel ready to make this change?

Rachel: Ever since I became an optician, I was interested in owning my own business, but after working alongside the owner of a private optometric practice in a previous role, my desire for ownership increased. When I heard about Specsavers, I instantly knew ownership with them was the right move for me.

Dr. Kwan: I was initially inspired by a coworker of mine who introduced me to Specsavers and shared more about the partnership model and the support available. I didn’t think much about ownership before that, but my coworker gave me the little push I needed. After looking further into Specsavers, I was motivated by their unique offering, particularly access to advanced clinical equipment, such as OCT, for all patients.

Q: What, if any, barriers stopped you from starting your own business sooner?

Dr. Kwan: At Specsavers, I know there will always be help and support when I need it. Before joining as a partner and clinic owner, I was most concerned about not having help or given guidance when opening my own business. The thought alone was quite daunting and learning about the business side while trying to give quality care to my patients at the same time seemed overwhelming. Specsavers makes it easy to do both seamlessly.

Q: What words of encouragement do you have for someone considering joining Specsavers CF Lime Ridge or elsewhere in the Specsavers network?

Rachel: Specsavers is an amazing company that recognizes the importance of treating their teams and customers the right way. There are so many opportunities within the organization, not just partnership, and they have the best training and encouragement. I always say, “My hardest day at Specsavers is still better than my best day anywhere else I have worked”.

Dr. Kwan: If you are looking for camaraderie in a professional setting where there is always someone to turn to for assistance or direction when you need it, this is the place to be.

Q: Is there anything we haven’t asked you that you would like to add? 

Rachel: The future looks greener on this side. I’m so excited to be part of the change in our industry and the help to all patients, regardless of their financial position.

 

Learn more about new and upcoming ownership opportunities with Specsavers by reaching out to the Partnerships Team. 

Other Posts About Specsavers: 

 

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Workplace Conflict (Part 1): Understanding Types of Conflict

Human Resources, Managing Others, Sponsored Posts

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Worklace Conflict

This is the first of two articles addressing Workplace Conflict
by Jade Bodzasy, Founder of Emotional Intelligence Consulting Inc.

If your practice has never experienced workplace conflict, Congratulations! BUT… it is likely that you are not looking deeply enough. Festering workplace conflict can toxify a practice, and is more visible to your patients than you may think.  

 

In any practice, conflicts and arguments are bound to arise. These disputes can stem from various factors such as personality clashes, differences in work styles, and discrimination. Resolving these conflicts is crucial for maintaining a harmonious work environment and fostering productive relationships among employees. In this article, we will explore the causes of workplace arguments and solutions you can use to transform your practice.

Understanding the Types of Workplace Conflicts

Clinic conflicts can manifest in different forms, each with its own set of challenges. By understanding the various types of conflicts, practices can proactively address and prevent them. Let’s explore some common types of conflicts that may arise in your practice:

  1. Personality-based Conflicts

Personality-based conflicts occur when individuals have contrasting personalities or values. These conflicts can arise when one employee dislikes another’s behavior or communication style.

  1. Task-based Conflicts

Task-based conflicts arise when employees work together on interdependent projects. If one team member fails to deliver their tasks on time or exhibits poor performance, it can lead to conflicts within the team.

  1. Leadership Conflicts

Differences in leadership styles can also contribute to clinic conflicts. When a leader’s management approach does not align with the preferences and personalities of their team members, arguments can start to surface.

  1. Workstyle Conflicts

Employees often have diverse work styles, with some preferring to work independently and others thriving in collaborative environments. Conflicts may arise when individuals with contrasting work styles are required to collaborate on projects.

  1. Conflicts from Discrimination

Discrimination based on factors such as age, ethnicity, race, or gender can lead to significant conflicts in the practice.

  1. Creative Idea-based Conflicts

Employees bring their unique perspectives and ideas to the practice, which can sometimes lead to creative idea conflicts. When individuals strongly believe in their own ideas, disagreements can start to develop.

The Importance of Resolving Conflicts in your practice

Resolving clinic conflicts is vital for several reasons. Ignoring conflicts can lead to a hostile work environment, adversely affecting morale and productivity. You can start to see why it’s important to work through and manage conflicts and arguments when they show up. However, It’s vital to know and understand what it could mean for your practice if you choose to ignore these issues.

Part 2 of Workplace Conflict will address why it is essential to mitigate conflict and strategies to do so. 

For resources on Conflict and Argument Management visit www.emotionalintelligenceconsultinginc.com

 

 

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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Academy New Orleans: The New Grad Experience

NextGenOD, PathFinders, Perspectives

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Academy 2023 New Orleans

Jenny Lee, OD 2023, shares her experience at Academy New Orleans, the largest annual optometry conference in North America.

This year, the American Academy of Optometry (AAO) hosted its annual conference, Academy, in the heart of New Orleans, Louisiana. Held from October 11th to 15th, Academy is one of the most anticipated optometry conferences of the year, hosting over 7,000 attendees!

What makes Academy such a distinguished event? Every year, this meeting attracts optometry students, exhibitors, clinicians, and academics alike to come together for a few short but intensive days of learning, celebration, and networking.

Each year, Academy boasts thousands of attendees, featuring optometrists from all around the world.

First, there is a niche for everyone – from students looking to be exposed to knowledge and ongoing technology beyond the scope of what they’ve learned in optometry school and develop a sense of community with fellow students across the continent, to distinguished key opinion leaders (KOLs) in the field looking to share their knowledge and challenge the current established standard, Academy provides a rich environment for connection and growth.

From workshops that actively boost your techniques (perhaps some that haven’t been practiced since optometry school) to rapid-fire sessions that allow for engagement and multiple perspectives on key hot topics, learning opportunities are abundant.

Particularly as a resident in pediatrics and vision therapy, I felt that I was able to actively tackle areas I was lacking in experience, such as glaucoma and ocular trauma.

AAO provides a seamless experience for students – by simply attending lectures, visiting the exhibit hall and poster program, and network at the residency fair and various other functions, I left Academy last year feeling strongly inspired to seek a Fellowship with the AAO.

New graduate Jenny Lee presenting her poster for Academy’s Residents Day Poster Program.

Academy caters excellently to students, with extensive events designed to help students meet fellow students and network with optometrists for prospective job opportunities. As a fourth year student in 2022, I had the opportunity to attend Academy in San Diego, California where I also obtained a student fellowship through the AAO.

Every year Academy also hosts Alumni receptions for each optometry school – this is one of the few events where alumni and students from the University of Waterloo and Université de Montréal come together to share mutual successes and foster connection between the two Canadian schools.

Second, as a new graduate or resident, registration fees are reduced substantially. The cost of attending a conference can be financially intensive, which can make the decision to attend a difficult one.

But being able to obtain an entire cycle’s worth of CE credits within one conference is not something to scoff at, and Academy certainly fits the bill. On top of this, travel fellowships and awards are constantly being offered to residents and optometrists alike to attend Academy!

I had the privilege this year of receiving Allergan’s travel fellowship offered to Residents, which not only allowed me to subsidize some of my costs as a Canadian but also allowed me to network with fellow residents during Allergan’s awards reception and Resident-Practitioner Reception.

Finally, Academy fosters a sense of community and lifelong learning through its’ Fellowship program. The FAAO is an internationally recognized title designating an optometrist as a Fellow of the American Academy of Optometry. Adding letters to your professional title aside, this designation is an opportunity for new graduates to set personal goals to further develop their career.

Particularly in light of the pandemic, a sense of community was certainly lacking throughout my time in optometry school as lockdowns had hit hardest during my second and third year.

Visiting Academy both as a student and now-resident reinvigorated this sense of community which I had so desperately needed during the isolation of studying for board examinations and staying at home, connecting me with optometrists and students all around the nation.

With a 50-point program involving poster presentations and case reports, optometrists can become a Fellow within the span of one to three years. This allows clinicians to not only get a foot in the door in contributing to optometry as an ever-growing profession, but also allows for valuable feedback and communication with other optometrists.

Existing Fellows help to mentor and support upcoming Fellows (or Candidates) and inspire further intraprofessional collaboration. For instance, this year alone my mentor, Dr. Emily Gottschalk (a 2022 UW OD graduate) obtained her Fellowship, as well as my former clinic supervisor, Dr. Jonathan Niavis (a 2019 UW OD graduate).

Their journey as well as those of other Fellows at the University of Waterloo have inspired me to become a Candidate and seek Fellowship!

Emily Gottschalk, OD, FAAO (UWaterloo 2022) obtained her Fellowship with the American Academy of Optometry this year. Fellowship requires completion of various poster presentations, case reports, and successful sitting of the Oral Exam held at Academy.

For those who may be daunted by the idea of poster presentations and case reports, keep in mind these submissions are not something that requires years of experience as an optometrist. Both novel and well-established cases alike have a place in Academy’s scientific and poster programs, and can also lead to further publications in Journals such as Clinical and Refractive Optometry.

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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New, Optometrist-led Steering Groups Drive Clinical Direction at Specsavers

Human Resources, Leadership, NextGenOD, Sponsors

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OSG at Specsavers

In order to develop the clinical strategies to support better patient care, Specsavers draws upon the clinical expertise and experience of their network of independent optometrists. That’s where their Optometry Steering Groups (OSG) comes in – committees in each province made up of a clinically-diverse mix of optometry partners who collaborate to trial, refine, and implement initiatives.

When optometrists within the Specsavers network raised an interest in making myopia management available to their patients, Specsavers engaged the OSG to develop a training program for interested independent optometrists in the network to introduce it to their practice.

The program was designed alongside industry leaders to provide optometrists, opticians and their teams with comprehensive training in myopia management care and products.

We interviewed Dr. Ramandeep Toor about her involvement on the OSG and the implementation of myopia management.

Why was introducing myopia management into your clinic important?

After the pandemic, with work-from-home and more screen time, I was noticing that there was a significant increase in myopia. I grew up very myopic and I don’t want my patients to have that struggle. That’s why it was very important for me to have myopia management care. I want my patients to be able to experience the little things with clearer vision and I want parents to be able to have options for their children. By implementing these kinds of strategies early on, you can make a big difference for your patients.

Can you describe the purpose of the Optometry Steering Group?

We’re a group of optometrists who specialize in constantly evolving the scope of practice. The group shares best practices and discusses developments, how we can make further advances in our clinics, and the trajectory of optometry. This group allows me to have a voice and be part of the advancement we can create in our practice collectively for our patients.

What have the Optometry Steering Group doctors done so far?

Since we’ve started, we’ve been able to discuss and implement clinical care strategies, pilot new programs and explore new technologies. Specsavers has been very supportive of our vision – listening and hearing ideas that we bring to the table, so we can create a more positive and comprehensive clinical practice for our patients. There’s a lot more to come.

Learn more about the Specsavers optometrist-led steering groups at join.specsavers.com/ca/inside-specsavers/meet-the-specsavers-osg/

 

 

 

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The Landemic™ (Trademark Pending)

Buying-Selling A Practice, Finance|Wealth, Practice, Real Estate, Tax & Legal Matters

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Lease Agreements

I have some terribly unwelcome news for many business owners in Canada.

There has been a steady and strategic squeeze on commercial leases over the last number of years, which has left many exceptional practices in a less-than-exceptional tenant security scenario. It feels like I have been screaming into a void these last few years; but again;

PLEASE LISTEN – Holding such a lease will severely undermine an otherwise highly saleable asset!

Operationally, if you have a lease, it may contain severe impairment and derogatory clauses which could prevent continued operation on short notice. The demolition clause is typically the one to watch for, but there are many other stipulations in premise leases that could impair your ability to operate, and severely impact the value of your business. A relocation clause is a comparable situation that could cause crippling business disruption.

The clients who are unfortunate enough to be in this situation are best served to address this issue head-on, and not bury their heads in the sand. Unfortunately, many do not, and they eliminate their best options in an end-of-career sale situation.

At ROI Corporation, we specialize in healthcare practice valuations. We are professionals. Come talk to us. The clients that engage us long before a sale have the best outcomes.

New policies are being initiated by banks, accounting firms and appraisers (like our firm) and it is not good news. The market has shifted.

This Shift will Impact Your Retirement

Impairment charges are immediately affecting the value of practices. Classification of leases into satisfactory, poor, and absolute derogatory will severely impact values for leasehold improvements and general operational values, such as goodwill.

This will impact retirement plans. Banks never liked distressed leases, but now, I have it on good authority that they will no longer offer long-term financing, even with mitigating terms on distressed leases.  They are likely to start restricting the financing term to the remaining unfettered term of the premise lease.

Purchasers will be asked to put up substantial down payments or cross-collateralize their own assets to the tune of many hundreds of thousands of dollars. Most of the purchasers in the market do not have the stomach for that, nor do they have that kind of liquidity available.

The result? The dissolution of the demand side of the equation, which has currently been persistent for well over a decade.

The fundamental law of supply and demand has kept values high all along.

Low interest rates helped, but they are not what caused values to skyrocket in the last decade. That was demand. Demand to own an asset where one could build equity and make an extraordinary living.

Interest rates are higher lately, but that is all part of the business cycle. Current interest rates is merely one input into a larger equation. The purposely hyperbolic title of this piece is a descriptor for a fundamental shift in capital access to the single largest buying group. It has the potential to hollow out the market and have a radical impact on the practice values of those who do not plan. Inversely and furthermore, it could increase the value of the practices that own their building or have secure tenure.

When the volume of purchasers is severely reduced due to a lack of access to capital caused by a fundamental shift in lender policy, a portion of the market will suffer from deflated valuations. It could be very substantial for many on the sell side. I am not involved in policy, but I am aware of a broad tightening of our Schedule A lenders and a desire to see buyers share the risk in practice purchases that are deemed a little less safe. These are great practices and there are strategies to deploy that can rectify any situation.

I strongly encourage any practice owner to immediately obtain a full and complete assessment of their premise lease. Our firm can help. If you’d like a private conversation about this very pressing and urgent matter, I can be reached by text at 416.520.7420.

Timothy A. Brown

Timothy A. Brown is the CEO and Broker of Record for ROI Corporation and has served the professions since 1979.  He can be reached at timothy@roicorp.com or 416.520.7420.

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