Issue Management Management Issue - Illinois College of Optometry

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Z6768_01:Layout 1 3/25/08 3:48 PM Page 6 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.
Z6768_01:Layout 1 3/25/08 3:48 PM Page 7 E Y E O N T R U S T E E S Renaissance Man: STEPHEN PUGH JOINS THE BOARD OF TRUSTEES Attorney Stephen H. Pugh sees a renaissance underway in Chicago, and he’s determined that the Illinois College of Optometry will be a key part of it. Pugh joined the College’s Board of Trustees on January 1, 2008. As ICO’s “public trustee,” he represents a constituency outside the alumni, optometrist or individual otherwise involved in eye care. “We’re in the midst of a renaissance in Chicago, especially on the near South Side,” says Pugh. “I think ICO is in a strategic place [to benefit from and contribute to this revitalization] — geographically, educationally, and in terms of the services ICO offers.” In many ways, Pugh considers ICO a hidden jewel; it provides outstanding services, yet is not widely known beyond its patients, students, faculty and local neighbors. He is working with his colleagues on the Board of Trustees to promote ICO’s public image as a leading healthcare provider, educational institution and business. Pugh brings legal expertise, professional relationships throughout Chicago, and a commitment to this city’s successful growth to his role as an ICO trustee. He grew up in Chicago and attended both college and law school at Loyola University. As an attorney and founding partner of Pugh, Jones, Johnson & Quandt, P.C., he specializes in real estate litigation, public finance and local government representation. In addition to his recent election to the ICO Board of Trustees, Pugh sits on other prominent boards in Chicago, including Columbia College, the Alliance of Business Leaders and Entrepreneurs (ABLE), the Legal Assistance Foundation, and the Emergency Fund, to name a few. He also is a member of the legal advisory committee working to bring the 2016 Olympics to Chicago. “I believe ICO can be very valuable helping athletes who come from all over the world who may need eye care,” he says. From its location on south Michigan Avenue, “ICO will be in the midst of everything” proposed for the 2016 Olympics. The pending selection of a 2016 Olympic host city notwithstanding, Pugh believes ICO is in the right position for this time in Chicago’s history. In addition to raising awareness about the advanced eyecare services IEI provides, he sees potential to raise ICO/IEI’s visibility within Chicago’s business, political and legal communities. He also sees potential for elevating ICO’s recognition as a resource for higher education, particularly among young adults in Chicago’s minority populations. “Hispanics, African-Americans, Asians, Indians and other minority groups are vibrant parts of Chicago,” he says. “We need doctors of optometry to represent and serve these populations.” Part of what drew Pugh to ICO was its leadership. “ICO has a dynamic leader in Dr. Arol Augsburger,” he says of the ICO President, who invited Pugh to consider election to the ICO board. Pugh and Augsburger met through their mutual involvement in Chicago-based organizations and activities. Now, Pugh says he’s happy to be involved with the College. “ICO is beginning to grow its reputation. It’s exciting for me to be part of that growth.” — Michelle Rapaport ICO MATTERS SPRING 2008 / 6
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Issue Management Management Issue - Illinois College of Optometry

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