Focusing on profitability from professional fees

By Nick Atkins, co-director, Proven Track Record

As a follow-up to last year’s successful Independents Day (iDay), this year we’ve decided to focus on making a profit – or at least not making a loss – from the professional services independent practices provide. With business slowing down post the pandemic pent-up demand, and the so-called ‘cost of living crisis’, there is no better time to focus on the additional revenue to be had from clinical services. Therefore, at iDay 2023 on Monday 3 July we will focus on strategies to create the solid financial base of ongoing revenue a business needs to make it more robust in more challenging economic times.

STELLAR SPEAKER LINE-UP

As always, iDay is all about the business of being in independent practice and we have the usual rosta of thought leaders and experienced A-list speakers. Our keynote speaker is Professor Nick Rumney. In 'Industrialising optometric practice', Nick will share his personal perspective having ‘walked the talk’ and ‘blazed the trail’ for upweighting optometric clinical services and charging appropriately for them, for most of his distinguished career.

Dr Trusit Dave is an optometrist, researcher and inventor. He is the owner of an independent practice in Coventry, specialising in dry eye and keratoconus. Core to his business model is charging appropriately for his clinical services. In 'Commercialising clinical services', Trusit will share how he does this, encourage delegates to do the same and predict what he sees as the future of optometric clinical service provision.

US optometrist Dr Samantha Hornberger graduated from Indiana University School of Optometry in 2005. She owns a private practice in Dearborn County, Indiana, that she opened cold in 2013 and recently expanded to be able to serve more of her hometown community. The title of Samantha’s talk – 'I grew my revenue by 23 per cent without any more patients' – does the heavy lifting as to its focus. However, she will also share her views on wellness and how striving for practice success needn’t mean losing the essential work-life balance.

THOUGHT ABOUT GOING PRIVATE?

know many independents regularly juggle with this conundrum, so we have some speakers who have taken the plunge. They will share their experiences, in order to help move you forward in your thinking.

Our lead speaker on this subject is Dr Martin Smith, an award-winning doctor of optometry and the founder of Martin Smith Optometrists. He is an IP optometrist and glaucoma specialist, certified in laser and minor procedures. He now practises outside of the NHS as a private patient only practice. Martin will share with iDay delegates how he has made this work, and why he believes he now has a more honest relationship with his patients.

Chaired by Optix managing director, Trevor Rowley, our panel Q&A session will bring in more independent practitioners who have ‘walked the talk’ including Anthony Josephson of Maskell & Josephson, and Keyur Patel of TK&S Optometrists. The day will conclude with a debate on this motion, 'Ditching the NHS is the future for optometry', sure to be informative and entertaining.

Make A Weekend Of It

While iDay is unapologetically all about the business of optometry, we have joined forces with the Specialist Club which is running a Myopia CPD Day on Sunday 2 July at the same venue. There is a special price for both events – so please check the website for details.

Why not bring the team? With much of the programme being multidisciplinary, we’re sure it will inspire and motivate your team – and we have a special price for group bookings of three or more delegates. This year’s event will, once again, utilise the excellent facilities of the National Conference Centre (next to the National Motorcycle Museum) near the NEC in Birmingham. It is just off junction six of the M42 and only 10 minutes from Birmingham International railway station. As always, the iShow will be integral in bringing independent supporting suppliers together with their customer base. We will have a vast array of contact lenses, spectacle lenses and equipment, plus a whole lot more all under one roof.

I hope you can join us again this year to meet up with friends and colleagues and celebrate all that’s great about being independent. ■

Price per person (excl. VAT)

By 16 April

From 17 April iDay delegate Fee £129.00 £159.00 iDay practice team (min. three people) £99.00 £129.00 iDay + Specialist Club £149.00 £188.00 iDay + Specialist Club practice team (min. three people) £119.00 £158.00

Early-bird pricing extended to 16 April