Issue Management Management Issue - Illinois College of Optometry

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C H A I R M A N ’ S L E T T E R
TO: ICO Alumni
From: Dr. Richard S. Kattouf
TOPIC: Practice Management
DATE: Spring 2008
Of all the health professions, optometry is the only one with three distinct practice settings: independent,
corporate and commercial. The independent OD owns his/her practice; the corporate and commercial ODs
are either private contractors or employees. All have the same training.
Q: HOW WOULD YOU OR A FAMILY MEMBER
CHOOSE A CARDIOLOGIST?
Certainly when it comes to our systemic health, we would not
seek a “bargain” cardiologist. ODs are classified by the federal
government as optometric physicians. But most of the medical
and specialty eye care ODs are trained for must be referred out
in the majority of corporate and commercial settings. This is
because these organizations want the OD to create optical
traffic, not treat eye disease or perform specialties.
Q: WHY DO WE GO TO COLLEGE FOR A
MINIMUM OF EIGHT YEARS?
In my opinion, years spent in college free an individual from
being anyone’s employee. Entrepreneurism and imagination are
the staples of private practice and practice management. The
employee simply practices general optometry. He/she owns
nothing and builds no equity. The independent owner sets the
mode of practice, not a “store” manager.
Q: AFTER EIGHT YEARS OF COLLEGE WHAT
TYPE OF IMAGE DO YOU DESIRE?
Are you a “real doctor,” or as many consumers say, “my
glasses doctor?” As an independent OD, you create the image
you desire through proper practice development. When you
are an employee in a department store or warehouse setting,
you are not in charge of shaping your image. The patient rarely
knows your name, only the name of the “store.”
5 / ICO MATTERS SPRING 2008
The independent doctor uses his/her imagination. There are no
limits. Through proper practice management and development,
you can achieve a $1-million-dollar gross income with a net
of $380,000.
Let me make one thing perfectly clear. Private practice, which
demands ongoing practice management, is not for the faint of
heart. Neither is succeeding through four years of rigorous
undergraduate courses and testing, followed by an even-more
demanding four years of professional school.
With independent optometry comes the challenge of owning
and operating two professional businesses; a clinic and a retail
optical department. Every OD is capable of practicing at the
highest level. If more of you would maximize your knowledge,
our beloved profession would benefit greatly.
Keep this in mind: Do not look for bargains in
brain surgery, parachutes and vision care.