Get Health Access| Looking at the Future of Independent Optometrist and Optometry |It is noticed that several trends are converging now in the field of independent optometry for which the independent optometrists are put on professional pressure. If an independent optometrist is to sustain and survive today, then it is important to look at the future of independent optometry, which, experts say, should not be what it looks like apparently.
Due to the rising pressure on the independent optometrists, several of them have adopted the ‘medical model’ of this practice. This has enabled to expand their service offers much beyond vision care and include diagnosis and treatment of several ocular diseases.
With this extension of the scope of independent optometry, the independent optometrist has now been able to increase their revenue in spite of the growing pressure and competition from:
- Third-party payers
- Chains
- Online retailers and
- Big-box stores..
Therefore, apparently it can be said that it is good that the independent optometrists have adopted the medical model. However, when you think about it deeply, this adoption has a lot at stake, and it is long way to go for the independent optometrists before they are accepted as a family eye doctor by the mass.
Adding to that, demographic trends such as oversupply of independent optometrists and graduating with huge student debt makes the future more unstable and blurred for these professional however, situation is changing.
Corporate or Independent Optometry
Therefore, to an optometrist, two options are available: corporate optometry and independent optometry. While both these have their pros and cons, your choice will depend on the type optometry you wish to follow. If you choose to be an independent optometrist, here are a few things to consider:
- You need to do all the administrative work such as fill out forms, pay bills, and conduct EHR till you can afford to hire someone else for these jobs. In corporate optometry, there are other staff to do these backend jobs.
- Your entire income and revenue will depend on the number of patients you see. You will get paid only when everything go well and gets paid. However, in corporate optometry, your salary is determined by the headquarter.
As far as the type of patients are concerned, there is no discrimination whether you work as a corporate optometrist or an independent optometrist. You will have patients suffering with glaucoma to treat and sometimes you may also have to see patients with higher IOP. Your services will be limited by the state laws only.
The Major Challenges
An independent optometrist designs and manages different vision care plans. Independent optometry professional has some significant challenges to overcome to remain stable in the industry. Currently, it stands at roughly 50% of the market share for vision care including the treatments and optical materials. However, with disruptions from other industries like consumer electronics, books and independent pharmacies, things are poised for a significant change in the future.
These challenges and pressures faced by the independent optometrists are similar to those faced by most of the industries and include:
- The rise of bigger national chains
- Introduction of mass players who use innovative and aggressive marketing strategies to get more customers
- Online stores that provide more consumer comfort while buying products.
As for vision and eye care, testing plays an important role in its business and growth of the independent optometrist. According to a survey, the testing preferences are identified in three specific consumer segments. These are:
- Independent Loyalists
- Hybrid Spenders and
- Chain Loyalists.
With all these challenges in independent optometry, the market seems to grow in the future. However, the independent optometrists are to meet the competition from the more sophisticated retailers and chain stores in terms of cost, types and quality of services provided.
