New grad? Get the lowdown on the ins and outs of corporate optometry.

CORPORATE OPTOMETRY entails two parts—an optometrist and an optical chain.

The O.D. partners with a commercial setting (such as a LensCrafters, Sears, or Walmart) either as a separate business entity or as an employee. The O.D. can be an independent contractor, franchise owner, employee, or sublease O.D. in this setting.

Examples of corporate chains include National Vision, Walmart, LensCrafters, Sears Optical, Target Optical, Grand Vision, and U.S. Vision.

MODES OF PRACTICE

» Employed O.D. In several states, the O.D. can be employed by the corporate optical. Currently, there are 12 states where an O.D. can be employed by a non-licensed professional—Illinois, Maryland, Michigan, Minnesota, Missouri, Nebraska, New Mexico, New York, Pennsylvania, Vermont, Wisconsin, and Wyoming.

Employed O.D.s enjoy good salaries and benefits while focusing just on the patient care aspects of optometry.

» Independent O.D. Many times, O.D.s are employed by the corporation, but there are situations where they are employed as an independent contractor. There are many differences between employed vs. independent contractors under the employment model, but the major differences are the tax brackets that are higher for independent contractors and no benefits that the traditional employed O.D.s would be provided with.

Independent contractors are able to write off typical business expenses that employed O.D.s are not able to. State laws and company policies will determine which employment type is considered.

» Sublease O.D. A sublease O.D. is an independent business owner who leases space from an optical. This is typically a turnkey business. The business agreement between the independent O.D. and the optical includes the standard optometry lane, marketing, and practice management software.

Depending on the company, additional equipment and staff support is included. Typically, the sublease O.D. would provide eye exam services while the optical sells all the materials. Each individual corporate optical provides its own unique business proposition to have O.D.s partner with it.

Whether employed or independent sublease owner, corporate optometry provides many different career pathways that can attract O.D.s to an optometry career that is right for them. COT! —Maria Sampalis, O.D.