At the Illinois College of Optometry's Annual
Practice Opportunities Symposium, four recent graduates answered the question:
"What surprising things did you need to know to succeed in your first years
of practice?" Their answers revealed five tactics that will help you and
your career to thrive.
1. Get your goals in sight
You've studied for years, talked to
practicing O.D.s, and perhaps gained residency experience. Now, it's time for
some big decisions.
"When you finish school, you need to
decide what you'd like to accomplish in your career," says Dominick Opitz,
O.D., a 1996 graduate who works for Midwest Eye Physicians. "Optometry has
so many different avenues. Take advantage of that and look at different
specialties like ocular disease."
Jill Ingelse, O.D., agrees. "I looked at
my lifestyle goals -- career and financial. It was easy, I just had to think
about what I wanted out of life. Did I want to work 40 hours a week and go home
and start a family right away? Or did I want to pour myself into a job? Did I
want to keep renting an apartment or buy a house?"
The soul-searching paid off. "During my
residency, I decided to start a practice," says Dr. Ingelse, who purchased
a practice shortly after graduating 2 years ago. "Was I a fool? Maybe. But
I asked around and found an older doctor with a fabulous practice to help me. He
took me under his wing. Then he set me off on my own, and now I'm starting to
fly a little bit."
Carla Adams, O.D., M.Ed., is a 1994 graduate
whose three optometry practices are associated with Wal-Mart. She tells
graduates, "Dream big. Optometry is a vast field with plenty of
opportunities for everyone. Don't ask, 'How will I find a job?' Ask 'How will I
find the opportunity of my lifetime?' With hard work and a well thought out
plan, your dreams can come true no matter how impossible they may seem
today."
2. Mind your business
Don't know a balance sheet from a bed sheet?
Most doctors don't when they start out, but you will.
"I needed to do budgets every year, and
I could barely balance my checkbook," says Jeffrey Varanelli, O.D.,
clinical director for TLC Laser Eye Centers � Detroit. Since graduating in
1998, he's managed to pick up a new set of business skills. "You have to
learn on the go. Pay attention to articles. Talk to people. Take a night class
at your community college."
The business of optometry took Dr. Opitz by
surprise. "I had no clue that optometry is a business. In corporate
optometry, you have to answer to a group of investors. I felt kind of slighted
by that." But he adds, "You learn a lot from corporate optometry. You
can't give care away. You put the time in, and it's worth more than you think.
Don't sell yourself short."
For Dr. Ingelse to purchase an existing
private practice, she needed a crash course in how to create a business plan.
She examined the practice's profits and losses, the competition and the market.
Then she faced the challenges of managing her new practice.
"I didn't take one accounting class in
school. I didn't know how to look at profit and loss statements. So I learned
all those things. Within 1 year, I learned five different computer programs and
how to do my own bookkeeping. It took a lot of long hours and hard work. I'd go
to bed at night exhausted, but I was so excited. Even with no business
background, you can do it."
Dr. Adams also needed a business plan for her
retail practices. "A retail practice has many of the same challenges as a
private practice," she says. "Invest the time, energy and money it
takes to grow it. A good business plan will help you focus your efforts."
Business skills are so important, in fact,
that all four panelists pointed to professional and personal finances as the
area that their education lacked. "I would have added some business
classes," says Dr. Varanelli, "just something to prepare me for doing
budgets, managing expenses and meeting goals and targets."
3. Do your finances a favor
Buying a practice, negotiating a compensation
package, loans, loans, loans. Intimidating, right? These O.D.s don't go it
alone.
"If you ask your friends and family,
somebody knows somebody who knows something about finances," says Dr.
Ingelse. "Just say, 'These are my student loans and this is my projected
income. How should I balance this?'" Dr. Ingelse needed to factor in time
for her practice's cash flow to begin. "It takes about 2 to 3 months before
the reimbursement checks start coming in, so you're really dying until those
checks come in to pay your bills."
Dr. Opitz sought financial help when he was
ready to negotiate with a prospective employer. "Consult an attorney before
you make any final decisions," he advises. "There are contracts,
salary negotiations, bonuses and the like to discuss. You need expert advice.
Ask an attorney, an accountant, financial advisors, consultants and your
colleagues."
Paying off student loans is a top goal for
all four doctors, but Dr. Adams says you should pay yourself first -- even
though it can seem especially difficult when you first graduate. "Establish
a retirement plan, pay off student loans as quickly as you can and live a frugal
life," she says. "By investing in yourself first, you stay happy and
well-balanced. You'll have more energy for your business."
For Dr. Varanelli, paying off loans is a
family project. "My wife is an optometrist also. We have twice the loans,
but we also have two incomes. Our goal is to have our loans paid off in 10
years."
Dr. Adams notes, "This topic is very
close to my heart. It took me 4-1/2 years to pay off my loan -- and it was a
very large loan." She learned a lot about balancing personal values and
money in that short time. "My husband and I have lived very frugally. The
best things are free. You really don't have to have a BMW. 'Things' just take
away from what life is really all about. And they make you work even harder than
you otherwise would have to."
Dr. Opitz also has a 10-year plan. "My
investment is in the practice itself. The financial reward will come."
Besides, he quips, "I'm still a bachelor, so hot dogs and beans are really
good."
Because Dr. Ingelse is buying her practice,
she's on a 25-year repayment plan for student loans. "I hope that once a
little more money comes in, I can start making double and triple payments to pay
off my loans in 15 years," she says. Despite her thick payment book, she's
quick to point out, "When I go to work every day, I love what I do. A lot
of people can't say that. Even if I made less money, I'd still love what I do.
That can bring you joy until the income comes in."
The panelists also agree that students should
separate financial goals from residency decisions. "I don't know how much
my residency cost me," says Dr. Ingelse, "but I didn't care. I knew in
my heart that I wanted to further myself and develop a specialty that could help
me in the future. It's been gold for me, and I enjoyed it."
Dr. Opitz adds, "I wouldn't be where I
am right now if I didn't do a residency. It's a big sacrifice initially, but it
will come back to you many times over. It opens doors by making you more
marketable and giving you the option to teach. It's also a great way to increase
your confidence."
4. Get involved
As an O.D., you're part of a proud profession
and a leader in your community's health care. Get out and mingle.
"Networking is a big asset, no matter
what mode of practice you're in," says Dr. Varanelli. "Building
relationships with other professionals can help build your practice. And they're
great resources when you have questions or want a second opinion."
Professional contacts broadened Dr. Adams'
options. "When I was looking for a job before graduation, no one asked me
for a r�sum�. A lot of my offers came from talking to other doctors and
visiting their practices."
Health care professionals aren't the only
people you should seek, says Dr. Varanelli. Groups like the Rotary, Kiwanis,
Lions Club and others can help you build your practice and your reputation in
the community.
Dr. Ingelse performs free school screenings,
teaches one day a week at ICO, and is a member of her local Chamber of Commerce.
"I've met a lot of business people. They'll say, 'Oh, you're the eye
doctor! I'm going to come to you,'" she says. "Through these
activities I learn the needs in the community."
But getting involved isn't just about
advancing your career. It's also about advancing your profession.
"Optometry is more than a job,"
says Dr. Opitz. "This is your profession. You have to think, 'What am I
doing to better it?'" The panelists recommend getting involved in local,
state and national associations. "You're giving back to the profession what
it's given to you," says Dr. Varanelli.
5. Be confident
You've spent years building knowledge and
honing your skills. When you take that leap into professional practice, leave
your self-doubt behind.
"You're the doctor," says Dr.
Adams. "Patients want someone who's competent, knowledgeable and
compassionate. A patient will always remember a warm smile, a competent exam and
a good chair-side manner."
"Trust your skills," advises Dr.
Varanelli. And Dr. Opitz adds, "You have to be confident of what you've
learned."
To venture into private practice, you need to
be bold. "When you have confidence and skill, patients will come back to
you," says Dr. Ingelse. "Study hard and do well, and don't be afraid
of anything no matter what your background is." *
The key isn't to succeed your first couple
of years out -- it's to survive. We all like to think we'll go into practice,
make a lot of money and pay off our loans rapidly. But it just doesn't happen.
Still, I've found rewards that aren't
monetary. The practice of optometry goes beyond clinical
expertise. It's how you care for and interact with your patients that makes you
a doctor.
Dominick Opitz, O.D., ICO '96
Midwest Eye Physicians, P.C.
Palos Heights, Ill.
Remember, from the moment you meet a
patient, you're being evaluated. If you get the best evaluation, you'll have
repeat business. Here are some tips to keep patients coming back:
�
Learn something new every day.
Optometry changes constantly. There's nothing worse than your patients knowing
more than you.
�
Always put the patient first.
Avoid the pressure to sell, sell, sell. If you find yourself in a situation
where you're encouraged to recommend products that won't benefit your patient.
Stand firm.
�
Praise your team. An
outstanding team can make or break your practice. Your staff should be a
well-trained, professional, courteous reflection of you. Let them know you
appreciate them.
Carla Adams, O.D., M.Ed., ICO '94
Wal-Mart Vision Centers
Chicago, Ill.
To build my pediatric patient base, I do
free vision screenings in the local schools. Sometimes my optician and I screen
as many as 100 kids a day, but it pays off in more ways than one.
At least one child from every screening is
rescued after having fallen through the cracks. I discovered a little girl in a
second-grade special education class with 12 diopters of uncorrected myopia. But
she had no glasses! I wanted to cry. She was in a special education class
because she couldn't see. Vision screenings are hard work, but they're rewarding
and I'll always try to do them.
Jill Ingelse, O.D., ICO '98
Private practice
Blue Island, Ill.
Don't be afraid to use all of the
resources available to you. Your state optometric association is a valuable
tool. So is networking with other professionals. It's important to make your
name more visible in the community.
Business skills are also a must for any
practice. And, perhaps most important, remember to stay focused on your core
skills. Don't forget the basics. Even in this age of technology, I still use my
retinoscope.
Jeffrey Varanelli, O.D., ICO '98
TLC Laser Eye Centers � Detroit
Farmington Hills, Mich.