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5 Essential Business Planning Tips That Can Help Optometrists Survive a Recession.

Various small businesses could be severely hit by a recession. Proper planning is the key to long-term business success. And it becomes all the more important in the face of uncertain circumstances such as the ones we are facing currently.

Here are five essential business planning tips that every optometrist must follow if they wish to power through a recession and ensure sustained growth in the coming year.

1. Think Strategically

There are several strategic approaches that optometrists can benefit from. Strategic thinking is what helps you succeed in a competitive market. Businesses that don’t have a strategic plan in place are bound to have a hard time in fulfilling their short term as well as long term goals.

Take time to think about your business’s vision and mission. What is your unique selling proposition? How do your products and services differ from those of your competitors? Do you do any specialty care?

Focus on aspects that will prompt customers to choose your services over the alternative options.

2. Don’t Skip Marketing

Your revenues may be down these days, but that’s no reason to skip marketing. Marketing plays a key role in keeping your business in the public eye. You can cut down on the marketing budget if you want. But don’t forgo it altogether.

Identify the channels that can bring in the maximum customers and run your marketing campaigns on those platforms only. Staying active on social media is a great way to connect with your audience, so don’t forget to leverage that.

3. Form Alliances

One of the most strategic business planning tips in today’s economy is to form alliances. Collaborating with other optometry businesses operating both locally and other medical professionals can help you gain access to new streams of income. It can enable you to identify and exploit opportunities that still exist in an otherwise halted economy.

4. Sort Out Your Finances

Finances are the core element that determine the viability of your business plan. Make sure that you always have sufficient capital at hand for debt servicing, asset acquisition, business expansion, and the likes.

In addition to the current expenses, think about other costs you may incur down the lane.

5. Structure Your Workforce

You need to think about the future implications on your business in regards to your staff.

Will those employees be willing to rejoin when your business gains momentum again if you cut their hours? Do you want them to rejoin or wish to hire new workers instead? What are the skills you will need to keep your business running in a changing economy?

If you plan to hire new employees, make sure you have capital available for any training that may be required.

End Note

No one plans to fail; they fail to plan. So, follow these business planning tips to help your optometry business not just survive, but thrive regardless of how the economy may be performing.

Recipe for Success in Optometry: Grit and Resilience

Grit and resilience are key ingredients in the recipe of success. Humans possess a remarkable ability to work hard towards their goals and keep recovering from setbacks in the way.

You can succeed in your life and career as an optometrist once you understand the growth mindset and discover the power of grit and resilience. Keep reading to know how you can boost your resolve and keep setting and achieving high targets.

What is the Growth Mindset?

The Growth Mindset is a belief that you can achieve something once you acquire the skill to do so. Carol Dweck, an American psychologist, has identified two kinds of mindsets: fixed and growth.

A person with a fixed mindset believes that basic qualities are inherent and different ones cannot be developed. Growth mindset, on the other hand, dictates that you can enhance your qualities through efforts.

An individual may have a fixed mindset about some abilities and a growth mindset about others. For instance, a person may firmly believe that sketching well is a built-in talent that they cannot acquire. On the other hand, they may feel that they can improve in sports with enough practice.

It is imperative to approach your life and career with a growth mindset in order to succeed in your life and career as an optometrist. You may not have scored a high grade after studying optometry, but that doesn’t mean you cannot become a successful optometrist after gaining experience in the industry.

Developing Grit and Resilience

Grit implies resolve, and resilience refers to your ability to bounce back from a stressful situation. People who are able to grow are those who learn to overcome obstacles and setbacks. Here is how you can develop grit and resilience in your life and career as an optometrist:

1. Asses Yourself

Want to figure out how resilient you are? Take a quiz online to evaluate the extent to which you adhere to a growth mindset. Gauging you abilities will help you determine whether you are on the right track. If the results show that you have a growth mindset, work on enhancing it. In case you discover that you have a relatively rigid frame of mind, it is time to start taking corrective measures.

2. Stay Around Positive People

Your mindset helps define your life. Likewise, the thoughts and behavior of the people around you also influence your reality. You cannot always opt to be around the people of your choice, but you can selective about who you wish to spend most of your time with. Engage in productive discussions with fellow optometrists and keep in touch with your mentor in the field to stay motivated.

3. Set Goals

Grit involves maintaining interest and effort towards long-term goals. It can get difficult to make a lasting commitment, especially if you face several hurdles in the way. Nevertheless, it is important to remember that success comes to those who stay strong, even through times of crisis. Don’t shy away from ambitious targets. Work hard and persevere to make your mark in the field of optometry.

4. Celebrate Milestones

Success doesn’t always have to be measured in the form of outcomes. Sometimes, you make painstaking efforts, but victory gets delayed. Pat yourself on the back for the hard work and know that setbacks are always a possibility. Making efforts in the right direction will always be fruitful, even if it takes some time.

It takes time and effort to reach your goals and to stay strong in the face of obstacles. Once you adopt grit and resilience, you will understand that hard work always pays off. A positive and driven mindset will eventually bring success in your life and career as an optometrist.

5 Questions to Consider Before Buying Equipment

If you want to ensure your practice is a success, you’ll have to equip it with the best and the latest tools. If you don’t get the right tools to do the job, you may not be able to provide the value your patients expect. So, investing in the right tools is a part of ensuring success for your practice.

However, you’ll have to be careful when buying such equipment. If you aren’t as vigilant as you should be, you might get faulty equipment on your hands, which will affect the quality of patient care you provide. So, it’s better to ask yourself the following questions before buying any equipment for your practice.

1. How Will it Set My Practice Apart?

If you want the edge over other practices, you need to equip it with the modern tools that help you differentiate your practice. So, before purchasing any equipment, you need to ask yourself whether it will promote your practice and get you more patients? If you get a positive answer, by all means, purchase that equipment right away. As an optometrist, you need to offer your patients the best treatments that would require the appropriate tools.

2. Will My Patients be Appeased?

Most people these days have become super tech-friendly. They also hold those places that are pretty tech-savvy in high regard. So, will the equipment you’re about to invest in impress your patients? Will your entire practice make your patients feel comfortable? If yes, you should undoubtedly equip your practice with such tools. Whatever it takes to make your patients see the modernistic approach you’re taking with medicine, do it. As long as your patients are satisfied, you shouldn’t have a problem.

3. What More Do I Need?

You’re mistaken if you think your practice has all the necessary equipment and couldn’t need anything more. You might be forgetting something, whether it’s your firm’s digital presence, good word-of-mouth, or what matters the most – patients. You can always benefit from doing more. So, it’s better not to sustain by doing the bare minimum. Recognize what your practice needs, and give it to them to flourish and succeed even more. Develop a robust digital presence, employ software that helps with patient management, whatever it takes!

4. Return on Investment: Is It Enough?

When you’re setting up your practice, you’re investing in equipment you can only hope will provide you with long-term growth. It’s all hoping that you might get more significant returns by using modern technology on patients. So, they’ll know your practice is a class apart. However, are returns enough? Are you barely breaking even? You’ll have to make severe calculations to understand how much you will make in the upcoming months by investing in certain pieces of equipment.

5. How Can I Maximize the Equipment’s Full Potential?

When you’ve got the best equipment to boost your practice, it’s also necessary you use them in the right way. You’ll have to ensure you have the right staff who knows what they’re doing. You might have to provide training in the beginning to make them aware of how a specific piece of equipment is used. The more trained your staff is, the better they’ll be able to use the equipment.

How to Manage Entitled Employees

Entitled employees can be a pain for your office, mostly because they have this “we’re better than the
rest” attitude. Entitled employees can be from all stages of the career path. It’s one thing to be self-confident, but completely another to be entitled. These
employees expect to be treated much better than others, and that’s when the problem begins. It doesn’t matter if they work in a private practice, corporate practice or have completed a residency entitled employees need to be dealt with right away.


One thing to know about these entitled employees is their psychology works differently. Each must’ve
gone through something in their lives that triggered their superiority complex. Every employee’s reason
to be entitled varies according to the events in their lives.
Let’s go through what psychological entitlement is and how it can be dealt with.


What is Psychological Entitlement?
Psychological entitlement stems from an employee’s background and achievements. Some young ODs come out of

optometry school and feel like they can just walk into a practice and take over. The mindset that they are a Doctor

can provide that entailment factor. Many will have achieved great goals whether it be grades, residency or a family

member in the optical industry.

They start believing they’re better than everyone else and should be
treated differently, much better. Some things entitled employees ask for are more income right away, seeing less patients per hour, not working nights and weekends and making demands.


The mechanics behind psychological entitlement is rather complex yet simple. Anyone you meet exhibits
signs of entitlement would easily tell you how they’re raised. Yes, it has a lot to do with one’s brought
up. As stated earlier as well, the reasons behind entitlement vary. However, entitlement in the
workplace stirs a pot of politics, employee rivalry, and eventually, misconduct, which can become a pain
for the practice manager or owner.


Provide Constant Feedback

The first thing you need to realize as a manger is that you can’t change an entitled employee’s mindset. However, you can manage their behavior and even curb their entitlement.

You can do so by providing them constant feedback in a neutral manner that doesn’t set
them off. For example, you can call them and tell them about their good performance. Also, at the same
inform them about their shortcomings. This will balance your review, and you won’t come off as a bad.

Research states that employees tend to respond more rationally when they’re given a negative
review along with a positive one.

Monitor Their Behavior
Entitled employees need to be managed by checking their overall performance and their behavior
towards other employees. If an employee is entitled, chances are they’re going to flaunt their “I’m
better than you” attitude to others as well, and that’s not right.

All employees need to feel accepted,welcome, and most importantly, equal. If they feel that other employees are supposedly getting
preferential treatment, even if they’re not, it can negatively affect their productivity. Hence, as a
manager, you need to ensure such behavior is not enforced. It’s a big responsibility to manage all of
your employees and an even bigger responsibility to provide all employees with a sense of belonging.

Final Points
Entitlement is an issue that can make things worse for other people. When someone’s full of superiority
complex, they make others feel much less about them, and this doesn’t fare well for them. Hence, as a
manager, it’s up to you to ensure entitled employees keep such behaviors to themselves and not spread
them around the workplace. Entitled employees cause many issues in the practice, stop the issues before they get bigger!

Attracting Quality Talent in Optometry with Greater Transparency

Attracting quality talent entails optimizing your optometry practice in several ways. A focus on transparency and staff well-being will enable you to improve the profitability of your business in the long run.

Employees are more attracted towards practices that have a clear mission and adhere to their values. Here are 3 aspects that are of the utmost importance in hiring and retaining better talent.

1.      Develop good work culture

Work culture is an important part of an employee’s experience. Optometry practices usually focus on providing quality eye care, but their values and culture are hardly ever communicated.

Potential employees often research about a business before applying, making it a good idea to let them know what your practice values the most. For example, if teamwork is a key aspect for your practice, make that clear while you are hiring.

You can easily showcase the work culture of your optometry business on social media or within a job description. Doing so will help you attract employees who are more in line with your work objectives.

An important factor in attracting quality talent is building trust. It helps develop an open and transparent company culture to hire suitable people and retain suitable employees. Make sure you improve communication within your organization so that employees can easily connect with each other to share valuable information.

Prevent toxicity by openly discussing current challenges with employees and coming up with solutions as a team. Moreover, keep employees motivated by sharing and recognizing their achievements.

2.      Offer thorough training

No matter how experienced your employees are, it is crucial to provide them with training relevant to your optometry practice. Optometry is a specialized field where employees should have sufficient knowledge about different equipment and vision-related issues.

When your hire employees, make sure you offer on-the-job training to get them acclimatized to their new work environment. Provide systematic training for each job role in your organization. Untrained staff is likely to soon feel disinterested and demotivated.

You on-boarding program should ideally begin with an introduction of your practice’s basic mission, followed by specific training for staff members. You can introduce job shadowing and role-play exercises to get new recruits familiar with the ins and outs of your practice.  Also fine tune their people skills, so that they are able to deal with patients more effectively.

3.      Compensate suitably

Remuneration is one of the prime motivating factors for employees. Allocate a budget for staff compensation to help manage finances more effectively.

Recruiting and retaining quality employees requires providing employees with a satisfactory package. Compensation generally includes salaries, bonuses, commissions, and other benefits. Experienced workers and practitioners are aware of their value in the market and seek a salary that is worth their services.

Make sure you offer a suitable amount to potential employees in order to hire the best candidates for your optometry practice. Recruiting efficiently will lower hiring costs and spare time and money for other important tasks.

Attract quality talent towards your business by ensuring employee satisfaction. With a good work culture, proper training, and worthwhile compensation, you are sure to draw in and retain competent employees.

ABB Analyze, powered by Glimpse

April 19, 2021

Every practice’s data tells a story. Not just of where they’ve been, but where they’re going. That data can serve as the North Star, guiding the strategic direction of the practice. The planning that follows most often begins with evaluating previous performance, setting a goal, determining the activities in which to execute to achieve that goal, implementing those activities and adjusting along the way based on the results – rinse, repeat.

All the intricacies that make up the plan can be complex and of course, ever-changing. But those complications shouldn’t apply to the collecting, storing and organization of that data. That’s where ABB Analyze, powered by Glimpse comes in.

At ABB Analyze, our sole purpose is to help practices succeed by making business analytics simple. Created by private business owners looking to maximize their performance, ABB Analyze understands first-hand, the challenges of successfully managing a business.

The system is designed to be intuitive, customizable and readily available. We show you opportunities, areas of improvement and how you compare to your colleagues. Most importantly, we save practices time so you can focus on what should be your number one priority, your patients.

To get the most out of your practice, you need to get the most out of your data. ABB Analyze will provide a clearer pathway toward increasing revenues and practice success.

To learn more watch this 2 minute video

Now Available! ABB Analyze Lite – FREE Access to 9 Key Practice Metrics – Get Started Here!

Jeremy Bono – Sr. Technology Product Marketing Manager, ABB Optical Group

4 Ways to differentiate yourself in Optometry

Optometry school may have equipped you with all the technical knowledge and expertise you need, but did you know that this alone does not a great optometrist make?

Read on as we take a look at some of the things they should be teaching you in optometry school, but don’t.

Listening to patients

This may seem like an obvious one, but you’d be surprised to know that some medical professionals don’t truly listen to what patients are trying to tell them.

Each patient is different. Rushing through appointments isn’t going to do anyone any good. As an optometrist, you owe it to patients to give them your time and respect.

After all, hearing out a patient is integral to determining what is troubling them, and coming through with the correct diagnosis.

A good place to start the conversation would be finding out what the patient in question does for a living. This can help you gather basic insights into the kind of lifestyle they lead, and reach a more informed place before treating them.

Managing inventory

The importance of this simply can not be stressed enough, especially considering current pandemic times.

You can be almost certain that the equipment you need, or the medicine you require is either in short supply, or is not going to be delivered on time.

It would thus be prudent to be proactive and take out the time to figure out all that you might be needing to ensure the smooth running of your practice.

Dealing with numbers

No matter what your profession, it would serve you well to follow these words of wisdom to a tee.

It’s important to understand that at the end of the day, you’re running a business. While it’s understandable that as an optometrist, you may want to focus on treating patients while hiring someone else to deal with the monetary side of things, you must set aside a bit of time poring over orders, receipts, and invoices.

No one’s asking you to do a deep-dive, but it will only benefit you and your practice if you’re aware of some basics: service rates by the hour, supply pricing, and how to avail the benefits of loyalty programs offered by various companies.

Managing staff

People management is not as simple as it’s deemed to be. It is, in fact, one of the more challenging aspects to running a practice.

Any practice that is running like a well-oiled machine is sure to have an efficient, meticulous team working behind the scenes.

Maintain employee motivation by empowering them, trusting them, and granting them due recognition for their efforts.

A good way to go about this is by first trying to gauge how good they are at making decisions. To do this, you don’t necessarily have to entrust them with a task; you can start by having routine discussions at the clinic to see where everyone stands.

The tactics mentioned above will help add value to your practice, and even guarantee long-term success.

3 Important KPIs to Improve Your Optometry Practice

If you run an optometry practice, you have to worry about your patients’ eye health and, on top of that, manage resources, improve productivity, and ensure profitability. Key performance indicators (KPIs) are essential factors to consider when analyzing your practice.

By monitoring KPIs, one can assess where their practice is lacking, what needs to be improved, and what redundancies need to be addressed. This leads towards a more growth-oriented optometry practice and ensures a patient-centric model of operation.

Patient Wait Time

When it comes to sight, patients get very anxious, as it is the sense we most rely on. Longer waiting times can exacerbate a patient’s anxiety and make them frustrated, leading to an unsatisfactory visit to their practice. More importantly, it hinders patients from getting the care they need, especially those requiring emergency treatment.

Reducing patient wait times is perhaps the simplest way to improve patient experience. Additionally, it helps to improve another KPI, patient satisfaction, improving patient retention. An excellent strategy to reduce patient wait times would be to adopt a patient portal where an optometrist can gather information on their patients, in turn, reducing wait times before their appointment.

Patient Follow-up Rate

This performance metric deals with patient care after a prescribed treatment by the optometrist. These can include simple procedures like examining patients, prescribing glasses or medication, or complicated procedures like performing tests to diagnose rare eye diseases and post-surgical care.

An optometrist may have to perform multiple procedures if a prescribed treatment doesn’t work or if a disease progresses. By analyzing the cases with an increased follow-up rate, treatment becomes streamlined for similar cases, whereby the patient’s needs are met promptly.

From a business point of view, a patient is more likely to revisit if their needs are met proactively. Hence, using multiple communication channels such as emails, texts, and surveys may determine the best course of action for a patient’s ailments.

Missed Appointments

A patient can miss their appointment for many reasons such as financial troubles, transportation issues, or just plain old forgetfulness. However, they do not know the impact of their missed appointment. Other than a practice missing out on opportunity costs, resources can be diverted to taking care of patients in their stead.

The onus falls on an optometrist to check in with their patients before their appointments and confirm their availability. This can also be an excellent opportunity to gain valuable feedback from the patient to seek a reason for their missed appointment. It can point out deficiencies in your practice that may need improvement.

There are many more KPIs one can analyze in their optometry practice to make it grow even further, but the ones mentioned above are perhaps a good starting point that provides value to both patients and doctors.

4 Tips for Young ODs

Since the pandemic hit last year, the world is still trying to adapt to some major changes.

Professionalism is the art of conducting yourself in a manner that lets others know they’re in good hands. It’s a guarantor to the people you’re dealing with that they can trust you and rely on you. An individual who embraces a code of ethics, values time, and stays true to their word is generally considered a thorough professional. The case is no different when it comes to your optometry practice.

The importance of professionalism

According to a survey conducted by The College of Optometrists, it has come to light that the clearest definition of professionalism embraces a number of factors.

Among them, building and maintaining relationships with patients, as well as staying on good terms with colleagues, takes precedence. Furthermore, looking to other professionals for guidance and mentorship, while making valuable contributions through research adds value to the profession as a whole.

Also talked about was the fact that routinely analyzing one’s practice, and suggesting and implementing ways to improve can do wonders for patients.

Here are some ways that are sure to make you stand out:

Look and dress the part

It’s true what they say about first impressions.

While every profession requires individuals to maintain their appearance, you need to be even more mindful of personal hygiene when dealing with patients.

Stick to your personal code of ethics

A solid set of ethics can take you very far. If you’re an honest person outside the workplace, chances are, you bring the same values to the clinic.

On an even more serious level, ethics include compliance with state and federal laws, which are ultimately meant to protect you, your family, and your patients.

Stay calm under pressure

Maintaining your calm when everything is falling apart is what will set you apart as a true professional. Everyone has days that are especially taxing, but it doesn’t help to lash out at colleagues or start whining.

Instead, take a deep breath, temporarily detach yourself from the situation, and try to look at it objectively. The next time a similar situation arises, you’ll know what to do.

Find a mentor

Even if you’re the best in the business, there will be days when you find yourself stumped.

Mentors can be sources of great support in such cases, and can include anyone from past professors to people you’ve met at training workshops.

Now that you’ve got these handy pointers under your belt, you’re ready to take your personal brand of professionalism up a notch or two, especially in these trying times.

Implementing an Optometry Compensation Plan

Optometry compensation plans need to be executed carefully since they are highly controlled expenses for an optometry clinic. You need to do is the right way to ensure that you don’t end up costing the clinic too much money. Here is how you can implement a proper action plan that will make the entire process more efficient.

1. Determining the Right Market Pay Rate for Every Position

Each position at the clinic will require a different compensation amount. You will need to use a salary survey to establish bands for salaries. These bands are basic groupings of existing salary rates based on

the experience of the candidate or the employee. You will need to determine the amounts for senior, mid-career, and entry-level positions. This can help you make decisions about hiring and raises.

2. Creating Comprehensive Job Descriptions for Every Position

You should think carefully about the responsibilities and duties of every position. Having a detailed and proper job description that includes duties, required skills, educational levels, and working hours can help the candidates and employees understand their position in a better way. The description should also have a summary of expected employee behavior.

The more accurate you are, the more realistically the employees can approach the task. The optometrists should make sure that the employees do their tasks well, and the job description can help with that.

3. Explain the Entire Process to the Team

Making sure you are transparent is the most important thing. You should answer any questions and make sure the employees know everything they can about the job. You can also meet with every employee individually to make sure they have a clear understanding of the expectations and compensation plan. This process will pay off in the long run.

4. Ensuring Team Accountability

The performance standards and responsibilities need to be met, but don’t wait till the end of the year to update the employees on their standing. You should give regular and clear feedback throughout the year to ensure that they are able to improve their performance. Frequent evaluations and reviews will help them, and they will definitely appreciate it too.

5. Reviewing Team Performance, Revenue, and Potential Raises

Evaluate who are the top performers for the year and reward them before anyone else. Then, you should look at the employees who may not have met your expectations and consider other options. For example, you can look for new hires or provide a chance for them to develop further. Offering formal reviews for all the team members can help.

Optometry compensation plans may not always be easy to execute, but only if you don’t follow the right steps. It doesn’t have to be such a complicated procedure if you have an action plan in place.