Booked out doesn't mean you're ready for an associate OD
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What is the core question about hiring an associate OD that the episode tackles?
Welcome back to another episode of the Optometry Success Podcast. As always, joined by Dr. Chad Fleming. Chad, what are we talking about
today, Chad? We are talking about how to put your stuff in place and be organized for a day. So we're going to talk about organizing your schedule. We're going to be talking about organization today.
I love it. So the the funny part about this dialogue is Chad jumped into the recording studio literally 15 seconds ago. Usually before we hit record, it's we we manage the show in Asana and we've got uh listener questions in there and ideas that both of us have put in there from our respective experiences since the last time that we've recorded. Literally, Chad gets on screen and he just says hit record. I'm like, oh dude. Dude, he's got this. Like there's gonna be a hand grenade just dropped into the show. Yeah. Whatever he has, I'm just gonna hit record, do the intro, and go. So organize. Take it away, Chad. What's on your mind?
What's on my mind is we were I was super excited getting into this uh talk because last time we recorded, we were on to at least a three, four, five-part series about uh associate ODs, about building your practice, about um various things that we wanted to consider um when bringing in an associate. And so I thought we would just continue on. That same path. I hit hit record because that is our listeners. I'm having the kind of day that you are out there as you're listening and you're going from clinic to kids to significant other to this. This commitment, that commitment, that's just how I'm rolling today. So awesome. Let's talk about the uh associate OD. Okay. I think as our listeners, I think we have a lot of listeners that are also on the side of not owning the practice, or if they do own the practice, it's maybe just a sliver of ownership.
And there's relationships here that owner O Ds and Associate O Ds are gonna focus on differently. So first thing I wanna talk about is why does why do you not this is a question for for all listeners, why do you not have an associate? And if you do, why are you not in the process and vision of hiring your next associate? So I think that we're in a day and age that if you have a private practice and you want margin and a life, you've got to have an associate OD that is a part of your practice. And so Adam, are you seeing that um in your space as an advisor, interacting with many optometry practices? Are you seeing that an associate O D is just a given? in the mindset of ownership, or is that something that is talked about as a great idea?
But really it's it's n doesn't go farther than that because there's always a reason not to hire one now. Um, I'll just keep in my current schedule. Nobody's gonna see the note new associate. Kinda talk to me about that.
So it's an interesting quagmire that happens because to your point, it is the easiest lever to pull in which a practice owner can give themselves margin in a couple of different ways back into the practice. But the reason that us that that owners are hesitant to do it and dare I say get in their own way a little bit is I think twofold. And and the and it and and both of those are related. Number one, they get intimidated by the dollars. Associated with that associate, the compensation structure, which I know we alluded to and talked about on a previous episode. And then number two, it's asking themselves, well. When am I actually ready for an associate? Like I think I'm ready for an associate, but when am I actually ready for an associate?
And then compounded on top of that is this hesitation related to the financial aspect of yeah, but I kind of like keeping all the profits in the practice. I I mean I get paid in two ways, being the only owner of the practice. In uh I'm provider, so I'm getting all of the OD compensation. For the work that I'm doing in the practice. And I get the income for the profitability of the practice, the return on investment. But it is, to kind of come back full circle in the conversation, it is the easiest way in which to give yourself margin in the practice.
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