Page 18 – Eye Care Business Canada

Episode 29: Meeting the Recruitment Challenge at FYidoctors

In his current role as VP, Optometric Partnerships, Dr. Michael Naugle oversees the growth and development of the FYidoctors banner in Canada and is a key figure in recruiting new optometrists. From the company’s inception in 2008 up until 2015, he served as Vice-Chairman of the Board of Directors and Vice Chairman of the Advisory Committee.

About the Guest

Dr. Naugle has held many leadership positions throughout his career. Since 2011 until 2016, he served as the Optometry Chairperson of the Canadian Coalition of Eyecare Professionals (CCEPro), a grass roots coalition of ophthalmologists, optometrists, and opticians.

He is the a past President of the New Brunswick Association of Optometrists in 2000-2002, before which he served as the Registrar of the New Brunswick Association of the Optometrists from 1997-1998.

Dr. Naugle was part of a large group practice in Moncton, New Brunswick, that was one of one founding groups of FYidoctors. In 2017 he transitioned full time to the FYidoctors leadership team and is the executive sponsor for the Future Vision Leaders Program supporting the next generation of Canadian optometrists.

Episode Notes

EWO host, Dr. Roxanne Arnal talks with Dr. Michael Naugle about the challenges facing Optometry today, with a focus on those faced by the newest generation of ODs.

Dr. Naugle outlines how the Future Vision Leaders forgivable loan program is tiered by location providing an up-front loan of up to $100,000 which is forgiven by $20,000 for each year the recipient is with FYidoctors. He outlines eligibility and how the program is tiered based on geographic location.

Dr. Naugle breaks news regarding a new collaboration with New England College of Optometry (NECO) which supports 3rd and 4th year Canadian students with a full forgivable loan to cover 3rd and 4th year tuition.

He provides concrete examples of how the “doctor-owned – doctor-driven” DNA of the company has lead to providing superior patient care through the unusual acquisition of diagnostic tools for members.

Dr. Naugle explains how the traditional binary roles of owner/manager or clinician has been expanded at FYidoctors to accommodate different perspectives for ODs at all stages of career development by adding options that include leadership without ownership and ownership without the burden of management – an innovative and flexible approach.

Listen to the full 29 min. podcast for further insights into the FYidoctor story and evolution.

Resources

FYidoctors Career Page
Future Vision Leaders Program
Don’t Be Short Sighted About Practice Location (Optik Article featuring Dr. Naugle)

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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To really know a candidate, you need to rely on a good set of behavioral interview questions.

Human Resources, Talent Acquisition

Fact or Fiction? – To really know a candidate, you need to rely on a good set of behavioural interview questions. Past behavior is, after all, the best predictor of future performance.

Not really. The concept of asking behavioural questions was a tremendous innovation that improved the value of interviews almost immediately… a few decades ago.

Candidates are now acutely aware of this approach and are well prepared for these questions. Add to the fact that candidates have a natural tendency to answer questions from the perspective of what the interviewer wants to hear.

The best way to truly understand how a potential employee is going to behave in the real corporate setting is to ask a completely different kind of question – what we refer to as a tertiary-level question.

The objective is to ask questions that go beneath behaviour and have the candidate tell you stories about what worked for them and didn’t as it relates to other people, jobs and situations. This approach allows you to gain insight into their core – the attitudes, beliefs and values that drive them.

These are the things that will predict the behaviours that are exhibited when nobody is looking, and that will give you a clear and reliable indication of how the candidate will fit in your business, in the job, and with co-workers and clients.

The most valuable competitive advantage for any business is to staff with star employees who perform better and stay longer.

That’s the Fit First philosophy.

To really know a candidate, you need to rely on a good set of behavioural interview questions. Past behavior is, after all, the best predictor of future performance. FICTION – Mostly!

Fit First Philosophy starts with this premise. Hire for Fit, and then train as needed. Save yourself time and money.
This post is sponsored by EyePloyment.com and Fit First Technologies

Learn more.

TIM BRENNAN

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

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5 Ways to Reduce Optical Staff Errors when Collecting Fees for Sublease ODs

Human Resources, NextGenOD

Being an optometrist isn’t easy as there are so many things to look after, primarily when you are subleasing and don’t have control of the optical staff. Subleasing has plenty of benefits to offer, including having trained staff who work under your wing and assist you in your daily operations via your contract.

So, what happens when your staff makes errors and makes it difficult for you to run your practice? Such errors include not collecting payments on time from patients.

This isn’t beneficial for your practice and can result in significant losses. So, what should an optometrist do in such a situation? Let’s find out:

Collect Payment Before Treatment
This practice may not be allowed in some jurisdications, which is why it’s crucial to check before implementing . When you collect payments from your patients first, it can help you have clarity whether the patient has paid or not.

If your optical staff fails to collect payment from the patients after the treatment, you’ll be looking at a loss. You would have provided quality treatment to the patient and would note even get paid for it. See if you can collect payment first.

Hire Your Staff
When you sublease space to run your practice, you will likely have to work with the existing staff. However, it can become problematic once the optical staff makes enormous mistakes. I

In such a situation, you should hire your staff. You can interview yourself to see their potential. When you have the right people for the job working under you, you’ll experience fewer errors and more ease. Interview potential candidates thoroughly before appointing them, and have a much smoother experience at work.

Set Up Online Payment
If your staff forgets to collect payment from the patients, one thing you can do is ask them to call those patients, apologize for the oversight, and ask for the payment.

Since your staff made the mistake of collecting payment, they should be the ones who make the call. Also, another suitable way to collect payment would be to set up an online payment option where patients can pay before getting the treatment. This way, you’ll receive the amounts, and your staff wouldn’t have to go after the patients regarding payments.

The Paper Trail
There should be paperwork for everything, including collecting payments from patients. You should have access to the invoices stating that the patient has paid a certain amount of money to receive a particular treatment.

Once you have all the documents, you’ll have proof that the patient has paid, and your staff didn’t forget to ask for the required money. Also, if there’s an invoice missing, you’ll immediately know that your employees failed to fetch the payment.

Do it Yourself?
This isn’t your job as an OD, but if your staff is not on top of things, you’ll have to step in. If you want to ensure your patients pay you the money you’re entitled to receive, you should collect it yourself at the end of the treatment. This way, you won’t have to run after optical staff to do so, and you’ll have your dues as well.

MARIA SAMPALIS

is the founder of Corporate Optometry, a peer-to-peer web resource for ODs interested to learn more about opportunities in corporate optometry. Canadian ODs and optometry students can visit www.corporateoptometry.com to learn more.

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The End of Time

Independent SightLines, NextGenOD, Perspectives

By Dr. Trevor Miranda.

Dr. Miranda will be regularly contributing his thoughts and perspectives on the topic of Independent Eye Care Practice in Eye Care Business Canada.

Time may be our most precious resource. Time has a finite and infinite horizon depending on the reference point. We all know and understand the saying “time flies when you’re having fun!” When you can’t wait until the end of the day rolls around, time seems to go slow, punishing you for watching it, agonizingly; seemingly consciously slowing the seconds down.

When it comes to time at work, most of us spend half our waking day “making a living”. It is estimated most people spend one third of their life at work.

There are those that dread these work hours. They work to have time off. They don’t enjoy work and their time at work brings them stress, anxiety and lack of fulfillment.

Then there are those of us that enjoy working. We choose an attitude and a mindset by embracing the day at work with excitement and anticipation. In this way, work is not so much about time as it is about the individual interactions and experiences that every day brings.

Slow Down Doc!
In my early career as an optometrist, I would fret about being late for my next patient. I was worried about the emergency “fit -in” that would distract my mind from the patient right in front of me.

One patient told me to slow down. It made me realize I was doing it all wrong. I still really like running on time but now I give 100% attention to my current patient.

I started using a chair-side assistant that scribes my notes so I can give full time eye contact to my patient, engaging with them on a deeper level. Rather than having to turn my side to them and type notes (I use the hunt and peck typing method), I can now pick up general body language and nuances to ensure my patient understands and can comfortably ask all their clarification questions.

I won’t leave until all questions are answered. I use videos to send information about disease conditions and invite follow-up dialogue if required. I page my optical experts to be present in my exam lane to enable a seamless hand off resulting in increased confidence in my recommendations that are reviewed by the opticians. This in-lane hand off produces greater optical capture rates and improved compliance to treatment plans.

Saving Time
Being time efficient or “lean” is something that can pay off both financially and in providing more time for other options. I calculated that saving two minutes per patient would equate to 16 days of time off or extra patient slots (based on 16 full exams over 48 weeks).

This can be done by delegating contact lens trials, utilizing a scribe, in lane handoffs, using multiple exam rooms, having scans and phoropter prepared for the patient in advance and many other ways to improve patient flow and efficiency.

Once you have saved the time you can decide if you want to use it to buy more time off or to see more patients.

So next time you are thinking why is the day dragging on, change your perspective and enjoy and be thankful for every minute of your day!

Quality Versus Quantity
It is not the amount of time that you spend with the patient that matters; it is the quality of that time.

Important to ensure you maintain as much eye contact as possible while the patient is speaking. It is challenging to look away and make notes and still have that patient know you are listening.

Delegate data gathering to techs and use the doctor’s time to listen, recommend and customize solutions for your unique patient.

Creating an amazing experience requires the team to be able to flex around each individual patient’s needs. I don’t like to see patients “waiting”.

I would rather the patient’s perception be of a new experience. Techs let the patient know that the exam is starting with some testing before they see the doctor. Perceived wait times are minimized by “pre-shopping” for glasses and education via videos on conditions and solutions which are chosen based on the patient’s profile.

The Acceleration of Time
As we get more mature in our work lives and the years pass by, we often lament that the years are going quickly.

This usually comes with the realization that time is precious and we don’t have an infinite amount of time left on this earth.

I find myself full of gratitude for each day; it’s a blessing to have the privilege to go to work, walk the dog and learn new things.

After 27 years as an optometrist, I am hoping for 27 more but thankful for each one!

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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Starting to Practice? Celebrate and then Prepare.

Finance|Wealth, NextGenOD, Resources, Sponsors

You have likely been a student for over 19 years of your life. You have had summer jobs and after school employment. You might have even taken a gap year to travel or work and save up some money. But now it’s time to “adult up”.

Without a doubt, this is both an exciting and scary time of your life. This September, you won’t be returning to school. When it seems like everyone else is rushing around in “Back to School” mode, you’ll be performing a ream of eye exams on children and teens.

So what does this next chapter look like? What are some of the new expenses you can now expect?

First …Celebrate!
You truly deserve to celebrate your accomplishment. But keep your celebration within reason, because the money isn’t free flowing yet, and likely won’t be for some time as real world expenses are about to begin.

Licensing Fees
In Canada, you will need to make application and pay the provincial licensing fee. In most provinces, there is a College of Optometry, the self-regulating authority that ensures that practicing members are fit to practice.

Separate from the mandatory College registration, there may also be a voluntary Association membership in some regions. Although these fees are voluntary, they do go to support the profession at a provincial level by negotiating with provincial health and other third party payers of eye exams and some eyewear.

In addition, your association is your voice in the advancement of the profession and is responsible for the delivery of continuing education. I encourage you to make your association part of your annual involvement, both in financial support and for it’s professional value.

Liability Insurance
Part of filing your College registration is proof of malpractice insurance. Unfortunately our world has become more litigious and the premium cost of liability insurance has increased. Ensure that your insurer provides broad coverage and has a good history of practitioner support.

Financial Aid Repayment
All that education has likely created a significant financial obligation that we call “Good Debt”. That is, debt that evolves from building an asset – in this case – your professional education.

It may even be “Best Debt” if it is government student debt where the interest is tax deductible. This doesn’t mean that repayment should be delayed however.

Significant debt can impact your ability to get a mortgage and it keeps following you around. If you are able to maintain your frugal student lifestyle for a bit longer, you’ll be surprised how quickly you can chunk away your debt and start saving for your first home.

Income Replacement Insurance
You’ve worked hard to earn that degree and you are, without a doubt, your greatest asset. It is therefore critical that you insure your ability to earn an income in the event of disability.

Disability income replacement plans come with many different features. Understanding what best meets your needs today and for the future is critical.

Keep in mind that medical underwriting is typically most favourable while you are still young, so it is best to get this conversation started as soon as possible.

Why is it more favourable when you are still young? As optometrists, we encourage regular eye exams to stay on top of changing medical conditions- the same is true when it comes to your own medical history. The longer you live, the longer the opportunity for your medical history (or your family – parents, siblings, grandparents, etc.) to change, which can affect YOUR insurance premiums!

Legal Services
The vast majority of your new opportunities will come with contracts. Before you sign on the dotted line it is worth your time and money to sit with a lawyer and ensure you understand the benefits and limitations of any contracts you are entering into.

You don’t know what you don’t know, and trust me- getting proper advise is imperative to your satisfaction in your career and personal wealth.

Taxes
Income taxes are a significant part of your new reality. If you are an employee, a portion of each renumeration will be withheld and sent to the CRA on your behalf. Although the withheld amount is calculated as per government tables, it is not always accurate, so you should set aside some additional funds each pay period to avoid a surprise on tax filing next spring.

If you are self employed, your first year of income will arrive without any withholdings. When you file your taxes in the spring you will be on the hook for both the employee and employer portion of Canada Pension Plan contributions, as well as, your income taxes.

You’ll also have the opportunity for some business deductions, so it’s important to establish some sort of organization to ensure you’re not losing that important paper trail!

As a general rule, I recommend you set aside 25-30% of every dollar you earn. As the year starts to wind up, we should have a conversation around some tax planning for the current year and to prepare for the following year, when you will have, hopefully, a full 12 months of income.

Advisory
As your Chief Financial Officer, I’m here to help you understand your money and assist you in making smart decisions about your debt repayment, insurance protection, tax management and wealth creation.

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 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.