Solo Private Practice

A career as a Solo Private Practice owner is the most sought after career path by new Optometrists today.  Over half of all practices today are in this format, however, this type of practice represent significantly less than half of sales in the optometric marketplace.  Entering private practice in any profession is challenging as a large variety of skills (both optometric and business operations) must be in place in order to build a successful business model.  For that reason, this mode of practice contains both the lowest and highest paid Optometrists.  Significant resources are available on the web describing the "Do's & Don'ts" of entering this mode of practice, and it is recommended that any Optometrist (in particular a new graduate) research this option well before pursuing that path.  For the right individual with the required skills and mind set, this can be a very lucrative practice mode, but is also a high-risk, high-debt option that should be entered with full knowledge of the business operations commitment that is required.

As a general statement, an Optometrist operating in this mode is a full business operator in all regards.  In some cases, no optical goods are sold, which simplifies the model, but reduces the lucrative draw of this mode of practice.  In a "full" scope practice, duties range from clinical care, hiring and training, bookkeeping, product selection, manufacturing, inventory management, managed care enrollment and processing, etc. In most cases, Optometrists who choose this mode do so after learning the ropes of the business environment by working in one of the other modes of practice.  Historically, practices built in this manner created an asset that could be sold to another Optometrist, and represented a retirement or "exit" strategy.  As the presence of Retail Optical has grown, the "exit" value of this type of practice has diminished.  For the right individual, this mode of practice brings tremendous benefit, but for most this is becoming a less attractive option. Back To Top)

Retail Optical practices are becoming increasingly popular for both new graduates and established Optometrists due to the level of income they provide, low risk, flexibility they can offer, and the ability to focus more on the clinical side of the practice rather than the business operations. Although as of 2006, Retail Optical stores represented 40% of the total Vision Care locations, they generate 60% of the total Vision business.  As the number of Retail Optical locations continues to grow at a high rate, practices of this type are available in almost every state.  As the trend of more women in optometry and two income professional families continues to increase, the flexibility offered via employment in a Retail Optical setting fits well with the needs of today.

Practices of this type are most often referred to as "Turn-Key" as all of the equipment, staff training, scheduling, charting, etc. has been taken care of in advance, and the optometrist is free to focus on the clinical aspects of the practice. In many cases, a successful business with adequate patient flow has been established.  In the National Vision setting, a full range of employee benefits including healthcare, vacations, retirement savings, disability, etc. are offered (this will vary by employer, but is typical of the benefit package offered as a part of employment).  As employees the Optometrist is covered by the same State and Federal labor laws and protections as any other employee.  Inclusion under the the Family Medical Leave Act (FMLA) can be of particular benefit for young families. Sometimes referred to as a great place to "Learn The Optometric Trade", in reality, long-term retention rates in the employment practice mode are quite high across Optometrists of all ages.  Due to the higher immediate income potential and stability associated with this mode of practice, it is considered by many new graduates as a great way to have activities outside of growing a practice while paying off significant student debt.

Clinical standards are an important component of any practice, and the association with a larger Professional Services organization adopted by most major Retail Optical companies helps to maintain those standards.  The position of Clinical Director exists to address any clinical issues, and to make sure that all Optometrists are kept abreast of any new or changing standards or technology.  In this environment, all of the non-clinical activities are handled by the retail side of the business.  This includes the sale of optical goods (Contact Lens sales may vary by state), the collection of payment for both goods and optometric services, as well as billing and collecting from the various managed care companies.  Regional and national relocation and transfer opportunities will vary by company, but are significantly more prevalent in the Retail Optical practice mode. (Back To Top)

Retail Optical Setting (Independent Practitioner)

In many ways, this mode is similar to practicing as an employee at a Retail Optical company, with the major exception being that you are responsible for all aspects of the clinical side of the business.  The business is still "Turn-Key" in that the optometrist typically leases from the Retail Optical company, and the location, equipment, patient flow, and retail sales components are taken care of without taking away from the Optometrists clinical activities.  For this reason, Independent Practitioners in this mode are often referred to as "Lease" or "Sub-Leasing" Optometrists.  This mode is basically a mix of the Solo Practice model and the employee model.  As an independent practitioner in a Retail Optical setting, you will not be an employee of the Retail Optical company, and will own your company.  There are many ways to set up the independent business with the most popular being a Professional Corporation or "PC". Whatever form of business you choose to set up, you will need to get some professional legal help.  This is not difficult, but there are options on how your business is structured, and you want to make sure that the structure is most beneficial to you as an individual. If you have employees, your company will be responsible for their hiring, training and pay (again, not as difficult as it might seem, but not a clinical activity).  At National Vision, one of the resources available to our Optometrists practicing in an independent mode is assistance in making these practice set-up decisions, and help with implementing those decisions.

HMO Setting (Employed Or Independent Practitioner)

Working in an HMO (Health Maintenance Organization) can be either as an independent or as an employee, but is most typically as an employee.  In either case, the Optometrist is a provider of services to the members of the HMO, and the business end of the transaction is handled by the HMO, not by the Optometrist.  As an employee, this will work almost identically to the Retail Optical Employee mode discussed above.  As an independent, benefits such as healthcare insurance will not be present.  In either case, the clinical activities will be somewhat dictated by the structure of the overall HMO.  In a full service HMO, certain clinical activities will be provided by another professional group within the HMO.  For the most part every patient will be a member or "collateral member" of the HMO.  On a clinical basis this does not impact the Optometrist, but on the business end, marketing or building the practice is really an activity taken on by the HMO in building its membership.

Ophthalmology Group

Typically based in a medical office setting, most Ophthalmology groups are owned by the Ophthalmologists who in turn employ the Optometrist to perform clinical testing and refractions prior to the patient visiting the Ophthalmologist.  This mode of practice is typically a turn-key operation without any financial outlay required by the Optometrist.  As is the Retail Optical Employment Model, almost all activity is clinical in nature without the distractions of operating the administrative components of the business.  The primary activity in most Ophthalmology Practices is the medical and surgical care of their patient base; for this reason an Ophthalmology setting may or may not include an dispensary, and other full service features.  This varies by practice, and the only way to find out about a particular practice is to research that setting. Optometrists who wish to specialize may find this mode of practice very beneficial to moving to the next stage in their career.  (Back To Top)