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Associate Optometry Contract Negotiation

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waxis

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Hi all,

I am a recent grad from Optometry now working in Canada. Is there anybody out there who would be willing to share their thoughts on what a reasonable Associate Salary should be?

I have one offer on the table which pretty much pays me a percentage of what the patient pays...and I'm not sure if it is reasonable.

For example. Eye exam I get 40% - ie. patient pays $100, i get 40% of that = $40

I am just trying to figure out if this is reasonable or if I should try to negotiate some other contract.

Thanks for your help!

Wax
 

eyestrain

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Just exam fees or materials too? If it's both, that's a hell of a deal and you should take it.
 

waxis

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Just exam fees or materials too? If it's both, that's a hell of a deal and you should take it.

Exam fees is 40%

I get 25% of Contact lens and Spectacle sales also.

There are also some ancillary services/products which all fall between 25-40% compensation.

So based on just 40% of exam fees, this is a worthwhile contract?

Thanks again,
 

eyestrain

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Exam fees is 40%

I get 25% of Contact lens and Spectacle sales also.

There are also some ancillary services/products which all fall between 25-40% compensation.

So based on just 40% of exam fees, this is a worthwhile contract?

Thanks again,

If you're getting 40% exam fees AND 25% materials, you should sign up yesterday. Seriously. The average practice nets 30ish% for the doc. From what I can tell, the owner is basically handing all the profit that you generate right over to you. Maybe i'm missing something here.
 

aspherix

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Who's offering this contract? An optical? or OMD? Corporate?

I practice in Canada and the common ratio is 40% goes to your partner and 60% goes to you. You'd be taken advantage of if you go any lower.
 

stonegoat

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40% of exam fees and 25% of glasses is awesome. You cannot expect more.
 

eyestrain

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Who's offering this contract? An optical? or OMD? Corporate?

I practice in Canada and the common ratio is 40% goes to your partner and 60% goes to you. You'd be taken advantage of if you go any lower.

Yeah, most likely 40% of the NET. This poster appears to be talking about 40% GROSS on exams and 25% on materials.
 

UWOpt2009

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I am a recent grad from Optometry now working in Canada. Is there anybody out there who would be willing to share their thoughts on what a reasonable Associate Salary should be?

Eye exam I get 40%... materials I get 25%

We need to know what province you are in to answer this question. The regulations around patient billing and how much we can charge for material sales varies considerably from province to province.

For example, in Ontario we cannot bill overtop of what OHIP reimburses, and for material sales we are locked into a "cost plus" system. Here you should be looking for something like a 50/50 split on both exams and materials.

In other provinces (eg. Manitoba) you are able to bill overtop of the provincial insurance plan, and you can mark up materials like a retail business. If you take away ~25% of what you generate, I heard it's about equivalent to the 50% in Ontario.
 
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