After reading these forums, it seems that there is a large oversupply of optometrists. However, wouldn't that mean many optometrists are unemployed and looking for work? Correct me if I'm wrong, but I hardly think that's the case. There always seem to be tons of job opportunities and fill-ins available for optometrists. Does "oversupply" in these forums just mean that "there are a lot"?
Is it really an "oversupply" of optometrists?
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This is a good question, and it brings up a point that is very much worth addressing.
You are right....we probably do not have a "true" oversupply of optometrists. At the very least, we don't have an oversupply in the sense that an economist would use that term because we don't have ODs on the breadlines or defaulting on their student loans with regularity.
However, my perception that we have an oversupply comes from the following observations and experiences:
1: In order to get an examination for a non-urgent routine matter with virtually every type of specialist out there requires a significant waiting time in virtually every corner of the country. Contrast that with optometry and you will find that you can get a non-emergent appointment in 95% of the country within two days and within a 1/2 hour drive from where you live. Many ODs have large yellow page ads proudly declaring "WALK INS WELCOME."
2: The AOAs own manpower study has shown TWICE that the current supply of optometrists is outpacing demand for optometric services and is projected to do so for the next 30 years. This is AOAs OWN DATA. This isn't something made up by disgruntled ODs. This is something that the AOA itself has declared through it's own studies. Supply is outpacing demand....and yet we are going to add three more schools to the OD production lines within the next 3 years.
3: The simple fact that you have people with 4 year post graduate degrees clamoring over themselves to get that coveted "lease" so that they can work evenings and weekends at the mall or in Walmart pretty much says something. Some of the ODs in these situations are content, and make decent money. The vast majority of them aren't, and it's not too hard to see why. Some of these arrangements can be lucrative but most of them net in the low six figures and I can't speak for you or anyone else but I would imagine that the majority of you students out there aren't sitting in your first and second year classes eagerly awaiting graduation so you can get out there at hit that mall or Walmart.
4: During the past 6 years in my area, there have been approximately a dozen different medical specialists that opened practices cold. All of these practices were booked out weeks in advanced before they even opened the DOOR. Contrast that with trying to start an optometric practice from scratch and you will find that the majority of them are scrounging for patients and aren't even profitable for the first 5 years. That doesn't mean that they ultimately fail....but it is a lot harder to make a go of it in optometry than virtually every other speciality out there. Want to hazard a guess at why? "Walk ins welcome."
5: As technology advances, more and more patient care can be delegated to "non-doctor" providers which means that fewer and fewer doctors will be able to handle more and more patients. This is only going to exacerbate the oversupply problem.
I am a partner in a successful private practice. I make fantastic money. But it was INCREDIBLY difficult to find a situation like mine and I wish I could say that I got it through some sort of shrewdness or brilliance on my part but the fact is I pretty much fell into it. The only thing that I can give myself credit for was that I took a sabbatical from optometry for a while and I know that there were many doctors who looked at purchasing the practice that I am now a partner in. They were all scared off by the high asking price and my time away from optometry allowed me to see that opportunity for what was......a good one. So I took it and it's worked out great. But again.....tremendous difficulty finding it and tremendously lucky to be in the right place at the right time.
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Excellent post Ken.
I agree completely.To sum it up I think you could say that it is much more difficult to make a comfortable living as an OD than it should be.
Could we sticky this post as a reason why many of us KNOW there is oversupply? This question gets asked over and over again.
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I believe that that is not only possible, but more and more likely as time goes forward.
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It is a sad state of affairs indeed. Over-saturation of optometrists leads to all sorts of negative things.
Unfortunately, the competition for patients leads many docs to devalue their services and materials because they think this will help keep their practice alive. I saw a commercial on TV this morning while I was at the YMCA. It was an optometry practice advertising for 2 complete pairs of glasses plus an "eye exam" for $69.99. They could buy a pair of un-coated CR-39 SV lenses from me for that money! They are located in an area that is thoroughly saturated with optometrists and feel they have to devalue their exams and glasses to drive people to their door. I saw a sign in front of an OD's office in my hometown advertising a $48 "eye exam." Optometrists need to get it through their skulls that devaluing their services does nothing but hurt them and the profession as a whole. They should be setting themselves apart from the rest of the pack by offering the most comprehensive exams and the best service, not by undercutting their exam fees like some sort of walmart price rollback.
Another fatal error brought on by competition from over-saturation is the tendency for some docs to sign up for every crap insurance plan (of which there are many) on the market. They figure that getting reimbursed $35 for a comprehensive exam is better than not seeing a patient at all. Heck, their chair cost is probably more than that. Next thing you know, your schedule is full of crap insurance and all of your decent reimbursement and cash patients are going to the competition.
Are there still some under-served areas of the country that could use an optometrist? Sure, but the existing schools can cover any rural shortages. There is no reason to start pumping out an extra 3 classes of optometrists every year. Why not shorten the program to 3 years so you can crank out even more at every school.
Unfortunately, the competition for patients leads many docs to devalue their services and materials because they think this will help keep their practice alive. I saw a commercial on TV this morning while I was at the YMCA. It was an optometry practice advertising for 2 complete pairs of glasses plus an "eye exam" for $69.99. They could buy a pair of un-coated CR-39 SV lenses from me for that money! They are located in an area that is thoroughly saturated with optometrists and feel they have to devalue their exams and glasses to drive people to their door. I saw a sign in front of an OD's office in my hometown advertising a $48 "eye exam." Optometrists need to get it through their skulls that devaluing their services does nothing but hurt them and the profession as a whole. They should be setting themselves apart from the rest of the pack by offering the most comprehensive exams and the best service, not by undercutting their exam fees like some sort of walmart price rollback.
Another fatal error brought on by competition from over-saturation is the tendency for some docs to sign up for every crap insurance plan (of which there are many) on the market. They figure that getting reimbursed $35 for a comprehensive exam is better than not seeing a patient at all. Heck, their chair cost is probably more than that. Next thing you know, your schedule is full of crap insurance and all of your decent reimbursement and cash patients are going to the competition.
Are there still some under-served areas of the country that could use an optometrist? Sure, but the existing schools can cover any rural shortages. There is no reason to start pumping out an extra 3 classes of optometrists every year. Why not shorten the program to 3 years so you can crank out even more at every school.
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Are there still some under-served areas of the country that could use an optometrist? Sure, but the existing schools can cover any rural shortages. There is no reason to start pumping out an extra 3 classes of optometrists every year. Why not shorten the program to 3 years so you can crank out even more at every school.
What areas of the country would you say are underserved?
Perhaps Louisiana ?
The places where you don't want to live.
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yes, i have a friend in louisiana... even though there are many available jobs there, she got suckered to work for Americas Best (the worst possible place to work!)
But because it's a low demand area, they pay her what a high demand area would pay + 1000 a year (which in my opinion is S**T, but oh well).
That doesn't seem right...they should pay her way more if not many OD's are willing to work there...
Was Louisiana always a high demand area or is it now a high demand area due to recent events ?
Why is America's Best the worst corporate place to work at ?
Oh...also Alaska I think.
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Two pairs of glasses AND an exam for $69.95... what do you think about that? I hate that place. You have to join their little membership club to get that price.
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When you work for America's Best, they advertise that if you purchase 2 pairs of glasses, you get a "FREE EYE EXAM". Patients start treating the eye exam portion as if it's suppose to be free or worth very little.
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Elaborate a bit more. I'll be the judge of that.
Places like the middle of nowhere. I guess if you don't mind living in the middle of nowhere, you could probably find some underserved areas.
But don't other corporate places do that as well or something less extreme ?
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Under-served areas are often rural, but that doesn't mean you have to live in the middle of nowhere. There are a lot of small towns out there with 5-10k people and no optometrist. A few may not have a WalMart! They may be 30-40 minutes from a metropolitan area and would welcome an ECP in their hometown.
I practice in a small town and it definitely has its advantages. We have a LOT more cash patients than insurance patients. Word travels quickly by mouth if you are doing a good job (or a bad job) so we spend very little on advertising. While the town may be fairly small, we draw from about 25k people across the county. I live <10 minutes from the office and there is no traffic. Small town people love and support their small town docs because they feel blessed to have them there. You can become somewhat of a local celebrity, rub elbows with the mayor, and get invited to all the swinging parties too. So don't count out small town, rural practices.
I practice in a small town and it definitely has its advantages. We have a LOT more cash patients than insurance patients. Word travels quickly by mouth if you are doing a good job (or a bad job) so we spend very little on advertising. While the town may be fairly small, we draw from about 25k people across the county. I live <10 minutes from the office and there is no traffic. Small town people love and support their small town docs because they feel blessed to have them there. You can become somewhat of a local celebrity, rub elbows with the mayor, and get invited to all the swinging parties too.
So don't count out small town, rural practices.Under-served areas are often rural, but that doesn't mean you have to live in the middle of nowhere. There are a lot of small towns out there with 5-10k people and no optometrist. A few may not have a WalMart! They may be 30-40 minutes from a metropolitan area and would welcome an ECP in their hometown.
I practice in a small town and it definitely has its advantages. We have a LOT more cash patients than insurance patients. Word travels quickly by mouth if you are doing a good job (or a bad job) so we spend very little on advertising. While the town may be fairly small, we draw from about 25k people across the county. I live <10 minutes from the office and there is no traffic. Small town people love and support their small town docs because they feel blessed to have them there. You can become somewhat of a local celebrity, rub elbows with the mayor, and get invited to all the swinging parties too.
I agree with you on the small town practice. It's a good gig if you can get it and you don't mind living a ways away from the "city". I do wonder how many 5-10K towns have no optometrists. My guess is not many. The town I grew up in has a stagnant population of just under 5,000 with at least four full time ODs. Although somehow they seem to make it work.
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Well, maybe I shouldn't have said "a lot" of towns. There are definitely some out there though. I have looked at the small towns in the area around me in VA and there are still some without an OD. I am amazed that your hometown had 4 OD's with only 5k people, but like here, I guess they draw from a much larger area. I have 1 other OD here, an OMD at the hospital and an p/t OMD at WalMart (yes, an OMD).
They draw from a lot of surrounding 1k-3k towns with no ODs. There's also no Walmart Vision Center, or any other corporate place, within 45 miles or so.
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Sounds like paradise!
Well, again, if you like small town life away from any decent sized city, it's great.
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This is to the rural small town O.D. Do you have children ? If yes, do they
attend the local public school in that small town ? How do you feel about
that ? I personally grew up in a large city, went to public school in a decent
suburb middle income class neighborhood so I want the same "suburbia" for my kids too. If you do have kids, would you say that a small town of 5 to 10K
really isn't that small and great to raise kids in ? I want my kids to attend
ivy league colleges just like me and my spouse did. I am considering the move outta downtown and urbanites. Thanks,
attend the local public school in that small town ? How do you feel about
that ? I personally grew up in a large city, went to public school in a decent
suburb middle income class neighborhood so I want the same "suburbia" for my kids too. If you do have kids, would you say that a small town of 5 to 10K
really isn't that small and great to raise kids in ? I want my kids to attend
ivy league colleges just like me and my spouse did. I am considering the move outta downtown and urbanites. Thanks,
I practice in a small town, but it's close to a large city. The small town I grew up in had a great school system, both private and public. I'd say it was a FANTASTIC place to raise kids. Very safe. Great schools. Great summer rec programs. For raising kids, I'd say you can't beat it. But I can really only speak for the one town I grew up in.
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Optometry is great, so many people singing the praises of med/dent/pharm instead of their own.
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I do have a son, but he's not school age yet. There are some very new and nice county schools close by and some nice, but pricey private schools. It is a very safe town and a good place to raise a family. I really like small town life for the most part and wouldn't trade it for the "big city."
