The last year presented unexpected challenges to the field of optometry, but with the New Year comes an opportunity for a fresh start in 2021. As the first quarter of 2021 progresses, take this time to re-evaluate your career and practice goals and check these items off of your OD Checklist to put yourself in the best position to succeed in 2021.
- Ensure You’re Covered – Review your malpractice insurance policy to check for common exclusions and ensure you’re protected. If your employer provides malpractice insurance coverage, do you know what is included in the policy? If you have your own policy, does your policy include full-scope coverage that automatically updates to reflect any changes in your state’s scope of practice?
- Find Your Dream Position – Whether you are a recent graduate or you have some experience under your belt, the New Year is a great time to assess your career goals. Freshen up your resume and check out current career opportunities on a career center like the AOAExcel Career Center to find the ideal fit for your career goals.
- Maximize Retirement Savings – Are you saving enough for the retirement lifestyle you’ve been planning for? Take some time to review your retirement savings strategy to make sure you are on track for the retirement you’ve been planning for.
- Manage Your Student Loan Debt – Don’t let student loan debt weigh you down for another year. Learn more about your student loan refinancing options to see if you qualify to save thousands of dollars on your loans. Right now, AOA members are eligible for an additional rate discount on top of the exclusive AOA member rate with Laurel Road.
- Build Your Financial Safety Net – Is your paycheck secure in the case that you become disabled and are unable to work? Would your family be financially secure? Learn how to build your financial safety net and provide your family with the financial security they deserve, so you can practice with peace of mind.
Are you a practice owner?
If so, there are a few more steps you can take to maximize savings within your practice and set your practice up for success in 2021.
- Safeguard Your Practice – Make sure your practice is fully covered by reviewing your insurance policies. Do you offer malpractice coverage to your employees? Does your policy guarantee full-scope coverage? Could your practice benefit from a cyber liability or business owners policy?
- Review Your Payment Processing Contract – Choosing the right payment processor is one of the easiest ways to save your practice money while ensuring your patients’ payments are secure. Have your contract evaluated to ensure you are receiving the best value for your payment processor.
- Bring New Talent into Your Practice – New Year means New Career for many young ODs. Make sure your job listing has these five essential components to make your post stands out on a career center and help you connect with the perfect fit for your practice.
- Refresh Your Compliance Strategy – Implementing a comprehensive HIPAA compliance program within your practice can help you feel confident that your practice and your patients are protected. Protect your practice and reinforce your patients’ trust by ensuring your practice maintains its HIPAA compliance.
- Evaluate Your Retirement Savings Offerings – Are you offering your employees the correct Retirement Savings Plan? Choosing the right fit for your practice can help you attract and retain high-quality employees and even potentially improve your personal retirement savings strategy. Secure your financial future by reviewing your options.
Taking these steps early in the year can help give you a head start for 2021. Position yourself for success by starting on your OD Checklist today.
Resources for AOA Members
As an AOA member, you have access to several resources to help you check items off of your New Year To-Do List.
- Receive a complimentary review of your malpractice, cyber liability, and business owners policies from Lockton Affinity.
- Craft your AOAExcel Career Center post. AOA members are eligible for up to 50% off of posting packages.
- AOA members can receive a complimentary review from a retirement savings plan specialist from Equitable Financial to help ensure they’re on track for their retirement goals.
- Chase offers complimentary contract reviews to AOA members to help them assess whether they’re receiving a good deal on their payment processor.
AOA members can now gain access to three new financial products aimed at doctors of optometry.
The AOA Business Card’s latest feature gives optometry practice owners even more flexibility and provides independence for colleagues and partners.