- Optometrists believe that practice
management and business management are the same thing. Practice management
focuses on the processes that support the delivery of eye care. Business
management provides the platform by which practice management succeeds.
- Optometrists believe that office
managers, accountants, or bookkeepers are responsible for managing the
practice so that the optometrist can focus on testing eyes. Delegation is
the act of representing the interests of others. Abdication is the act of
relinquishing responsibility to others with no intention of resuming it.
Optometrists prefer to abdicate from financial management and
administrative responsibilities.
- Optometrists believe that great clinical
skills are enough to open a practice. It is not enough without
understanding how to run a business. Many practices are at a disadvantage
because the location is poor, and the rent too high relative to the market
size. This points to a void in business acumen at the outset.
- Optometrists believe they earn income only when they see patients. What is not understood is that research, planning, and accountability, contribute to practice income. This requires dedicated time from the optometrist.
Some optometrists fall within the top ten percent of earners in South Africa. Yet, many others can only be disappointed with the lifestyle optometry affords them. Where do you fit in? Having the right information available at the right time, but in a format that you, the optometrist can comfortably relate to, is the key to taking charge of the financial management of your business. An optometric practice is a business in every sense of the word. No business owner can expect to have a thriving business without being involved in controls that will measure performance. Huminthas an integrated accounting package that can generate concise reports, providing the right information at the right time, but in a format, you can relate to. This will empower you to grow your practice into a high-performance business.