It’s an undisputed fact that the future is indeed very bright for anyone choosing to pursue a career in corporate optometry.
But whether you are a fresh optometry graduate who is about to enter the corporate optometry world, or someone who has been practicing for quite some time but still cannot decide, the major issue for perhaps all optometrists is the tug of war they face between choosing to work in corporate optometry or pursue private practice instead.
Though the overall role of an optometrist is to care for a patient’s vision and health, the practice methods can vary from serving in a hospital or retail optical setting to working for the military or even privately. Of course, the end decision depends on your personal preferences, but before you make the final call, read this two-minute article to find out what the best practice option for you might be.
The thought of working in a private practice indeed seems great. You get to be your own boss and run it how you want but with any setting there will be pros and cons.
Here are a few benefits that corporate optometry has over private practice.
Administrative work is minimal. Many corporate optometry subleases are turn key. Many of the administrative tasks are completed by the optical staff. The basic drawback you may overlook when falling in love with the idea of private practice is the fact that you will have to manage everything. You have to wear multiple hats, where if you choose to take a sublease many of those tasks are provided by the corporate optical.
From fulfilling the legal requirements to handling all the paperwork once the clinic is up and running, administrative work can be very difficult to handle. Even if you think you will be able to hold it all together, know that this work is likely to take up a lot of your time and efforts. And if you hire someone else to look after these tasks, you will still need to supervise the overall operation of your business. This is likely to shift your focus away from your main job.
Many corporate opticals will credential you on insurance panels. Some will provide you with discount services on practice managment software and support for hiring staff and OD techs for your office, so that you are able to focus on patient care.
Working in corporate optometry allows you to concentrate all your energy on the clinical aspects of patient care and frees you from the hassle of management issues.
Financial aspects are brighter
Not every private practitioner succeeds and not every corporate OD succeeds. It is based on the individual.
While we aren’t discouraging and you should no doubt, definitely continue walking that path if that is what you are really passionate about, you must also remember it may not reap immediate benefits in every case.
With a corporate optometry sublease, however, your salary is predetermined to a certain extent ensuring a steady flow of income. Moreover, the brand recognition and optical sales can guide you to above average growth over the years. For putting in exceptional efforts in your sublease you can see advanced financial growth in your practice and multiple locations.
Helps you clear out your vision
For those graduates who are unsure about which path to pursue, corporate optometry is the best to begin with as a business owner. The cost to start a business is low cost and many have established patient base.
It gives you plentiful time to figure out things. For instance, how much effort you are willing to put in, how serious you are about your work, and what you really expect from your own self in the future fall into perspective when you start working.
Corporate optometry allows you to test the proverbial waters by saving you from investing a lot of time, money and other valuable resources into private practice only to realize you are not cut out for that work.
As the industry changes will we see a rise in corporate optometry. The difference between building a corporate office vs private is time. Typically starting a corporate practice cold can grow faster than a traditional private practice.
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