Doctors have different career options when it comes to optometry. They have the option to work in a corporate setting or private one, they can practice as an independent owner or work in academia. Optometrists usually practice their work in certain types of places to practice their work; which is why, it is important for an optometrist to know if a corporate practice is better or an independent one.
Although, both (corporate and independent practices) have their pros and cons, it is solely up to the individual to decide. Here are a few things to consider:
The Administrative Work
If you have an independent practice you will need to take care of the pay bills, fill out forms and do everything (until you can hire someone). In a corporative practice, the company will have someone that is taking care of all this work so you can focus on your patients. If the administrative work does not seem like a problem, then an independent practice can be the right option for you. On the other hand, if you are someone who cannot take the responsibility of doing the administrative work, go for a corporate practice.
The Income Potential
In an independent practice, the amount of money you make solely depends if the patient purchases materials and over head costs. Whereas in a corporate sublease, your expenses are fixed and don’t have to worry about high over costs. Corporate opticals tend to have more foot traffic and the income potential is much higher. The industry is changing and competition is more fierce. Corporate optometry has evolved.
On the job training.
In a corporate setting, everything is turn key. If you choose to practice in a corporate setting, you will have the opportunity to learn more about the business side of optometry. Corporate optometry can be a better option if you see the opportunity. However, if your aim is to have your own optometry business, learn more about the business behind this avenue of optometry. Many ODs have learned more practice management and medical optometry because of the wide diversity of patients and collaborating with different eye care professionals.
The better option for you would be to work at a corporate business first to understand how everything works so when you start your own, everything seems easier to understand and you have built up your patient base and income to start without high debt.
Whether you choose corporate or independent optometry, both can be a great option. Depending on what your goals are, you can choose which route you want to take.