Hiring solutions for optometric employers
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The 4 Forces Changing OD Employment
Proactive businesses that understand how to use these 4 forces to their advantage will hire smoothly and experience significant practice growth over the next 10 years.Get The Free Hiring eBook
Supply and Demand
There is a shortage of 9,000 FTE ODs and supply cannot meet a growing patient demand. The number of new optometrists is growing extremely slowly with numbers of ophthalmologists staying flat. This increases demand for ODs and therefore makes hiring more difficult.(AOA & ASCO 2014 Workforce Survey)
More patients to treat
The population of individuals over 55 years of age will increase by 28% between 2010 and 2020. This means a larger patient demographic who will require medical eyecare for age-related diseases as well as diabetes, cataracts, and macular degeneration. More patients to treat increases demand for ODs and therefore makes hiring more difficult.(Review of Optometric Business - State of the Optometric Profession, 2013)
Increasing number of practices
From 2014 to 2017, we see that the top 50 retailers grew their number of practices by 9.51%. This puts additional pressure on all optometry businesses to compete for talent and small practices in rural areas face the most difficulty.(Vision Monday - Top Optical Retailers Report)
There are roughly 1,500 ODs who enter the workforce yearly and 750 ODs retiring. This ratio cannot support the subsequent increase in demand for eyecare services. This creates additional demand for ODs and practice transitions, making hiring more difficult.(Review of Optometric Business - State of the Optometric Profession, 2013)
What this means for your optometry practice
These 4 forces make finding and hiring an optometrist a long and challenging process. The longer it takes you to find an associate, the more money your business leaves on the table while your competition grows.