Community > Blog > Operations/Practice Management > Owning A Private Optometry Practice At Any Stage In Your Career
Owning an independent eye care practice can be rewarding at any stage of an optometric professional’s career. Whether you are an optometry student eager to put your new clinical knowledge to work, you’ve been practicing for some time and are considering stepping out on your own, or you are a current practice owner who has decided it’s time to shape your legacy — where ever you are, you’re ready to maximize the entrepreneurial experience. You may be wondering where to start and which resources to lean on. This article provides key elements for all areas of running an eye care practice — use them to begin planning a roadmap to create your future optometry practice.
Being part of a supportive peer community can make all the difference on your private practice journey. When it comes to the nuances of running a practice, having the opportunity to connect and share ideas with like-minded people from your 'tribe' can provide invaluable comfort and guidance.
Build your professional network both locally and virtually by attending events where you can share best practices, strategize and problem-solve with those who have been in your shoes. Chances are you will connect with a peer who has ‘been there, done that,’ and you can learn from their experience!
As an optometrist, you graduated from school confident in your clinical knowledge but may have taken only a course or two that focused on business management — for even seasoned professionals, this can leave you feeling uncertain about practice management. Take advantage of at-the-ready business advisory services for all critical practice areas, such as: operations and finance, optical management, billing and coding and marketing; attend webinars on timely topics; and even get human resources support.
Stay competitive by offering in-demand services that can also increase practice revenue. For example, with the increasing prevalence of dry eye disease, solutions that help practices build and sustain a dry eye specialty can fill that niche.
Extensive specialty services and programs can be cost or time prohibitive to independent practices with minimal budgets and free time outside of practice hours — when evaluating potential program partners, look closely at cost and contractual terms that may lock you in for a defined time period.
For private practices, every little bit helps in terms of saving on cost of goods, equipment and services, which in turn boosts profits. Joining an organization that leverages the collective purchasing power of its members with competitive vendor programs can provide immediate savings for practices of all sizes and life cycles.
Position yourself with the ability to offer sought-after brands, equipment that helps you better serve your patient base and services that give you the edge, all while saving money!
Professional Eye Care Associates of America (PECAA) is the nation’s most connected community of independent eye care professionals and offers a variety of practice management programs and services available through PECAA Max membership. Benefit from a customizable suite of business advisory services, industry-leading certifications and trainings and camaraderie with growth-minded peers.
In addition to support for current practitioners, PECAA also offers a membership specifically designed to smooth the transition to practice leadership for students and early career professionals, PECAA Propel. This new, free membership provides optometry students and first-year graduates who want to lead a practice access to invaluable business resources and opportunities to interact with experienced professionals, arming young ODs with the tools needed to run a private eye care practice.
Opening cold? PECAA also offers a Cold Start Program, which provides free, then reduced membership fees, allowing you to utilize PECAA’s exclusive vendor programs to reduce costs for capital expenses. Cold Start members also have access to member business advisors, including a dedicated Cold Start Advisor who will help support your throughout the process of opening your new practice.
Discover all that PECAA has to offer to help you thrive in your private practice journey so that you can spend time doing what you love — helping your patients. Contact us to learn more about becoming a PECAA member. If you’re a student ready to get started today, join PECAA Propel. Looking to open a cold start, let us know here. If you’d like to see maximum results and value, sign up for PECAA Max here.