Maximize Impact and Income: Professional Development for Today’s ODs

Optometry has always been a profession rooted in patient care. Yet today’s most successful optometrists know that expanding beyond core competencies is key to maximizing both impact and income. The path to better career satisfaction (and higher earnings) often lies in pursuing additional skills, certifications and expertise. Doing so can expand influence and diversify revenue opportunities.

Read on for a closer look at some pathways of advanced clinical credentials that can boost an optometrist’s career trajectory and income.

GLAUCOMA AND LASER TRAINING

Legislative changes are redefining what optometrists can do. In over a dozen states, ODs can perform laser procedures such as YAG capsulotomies, selective laser trabeculoplasty and laser peripheral iridotomy. Some ODs even perform minor surgical procedures like chalazion removal. Keeping these procedures in-house gives patients continuity of care and captures reimbursements that would otherwise leave the office.

Laser and surgical education enhance these competencies and provide ODs with training that distinguish them as advanced care providers. While these pathways require an investment in training and finances, they are among the most impactful avenues for increasing revenue potential in a medical eye care practice.

SPECIALTY CONTACT LENSES

Skills in fitting scleral and custom soft contact lenses remain one of the most financially rewarding optometry niches. Specialty lens patients require advanced care, and optometrists who master this craft command premium fitting fees and create a loyal referral base.

Fellowship credentials, such as the Fellow of the Scleral Lens Education Society or recognition through the American Academy of Orthokeratology and Myopia Control, signal expertise to both patients and referring doctors.

Read how one OD built a profitable niche in specialty contact lenses for myopia management here.

THE MBA ADVANTAGE

An MBA may seem far removed from the exam room, but it’s valuable for optometrists looking to explore business-oriented career opportunities.

An MBA equips ODs with skills in finance, marketing and operations. A good business program can help optometrists better understand profitability, cash flow and debt service. Additionally, MBAs may teach strategies for patient acquisition and retention, which directly impact revenue growth. Moreover, training in protocol design and supply chain optimization can help improve office efficiency and reduce overhead.

Beyond private practice, MBAs also appeal to industry roles in pharmaceuticals, medical devices and corporate optometry. While the cost and time commitment of an MBA are significant, the return on investment is often substantial and fulfilling.

INDUSTRY PATHWAYS

Beyond private practice, many optometrists thrive in industry roles with contact lens companies, pharmaceutical firms and device manufacturers. These positions usually provide competitive salaries, bonuses and benefits. In fact, industry jobs are often more competitive than clinical practice gigs.

Sought-after skills for industry roles include clinical credibility, education and communication. Companies value ODs who can speak the language of everyday practitioners. Strong public speaking and writing skills are critical for professional affairs and medical science liaison positions. Industry thrives on relationships. ODs who build wide professional networks gain influence, visibility and opportunity.

Optometrists with both clinical expertise and business acumen are well-positioned to excel in these high-demand roles.

RESIDENCIES

Completing a residency in optometry can provide invaluable clinical training in areas such as ocular disease, pediatrics or low vision. However, a common misconception persists that a residency automatically leads to higher pay. After conducting hundreds of career consulting sessions through ODs on Finance, most employers that I’ve had conversations with say they would not pay an OD more for having completed a residency.

Furthermore, ODs entering residency start with significantly lower initial salaries compared to non-residency graduates. Over time, the residency experience may open doors to specialized roles or industry opportunities, but the direct financial return is less immediate than other credentials.

FELLOWSHIP CREDENTIALS BEYOND GENERAL PRACTICE

The majority of ODs do not obtain fellowship status. Those who do often aim for more expertise while others enjoy professional camaraderie. Keep in mind that fellowships do not necessarily guarantee higher salaries in traditional employment. However, they may create leverage for referrals, niche practice development, consulting, lecturing and academic recognition.

Note that some fellowship organizations charge substantial association dues. Furthermore, fellowship status does not equate to smarter ODs or wider scope. A vast number of intelligent and clinically exceptional ODs opt not to pursue a fellowship because they feel that the juice is not worth the squeeze. 

BILLING, CODING AND REVENUE OPTIMIZATION

Underbilling and unfamiliarity with medical coding cost practices thousands each year. Optometrists who master coding for medical eye care, procedures and vision discount plans can maximize reimbursements. The most successful practice owners I know prioritize billing and coding to grow office revenue.

This matters not just to owners but to associates, too. Employed ODs who demonstrate proficiency in coding are often indispensable, which typically leads to higher pay. Billing and coding mastery may not carry the prestige of a fellowship, but its financial impact is immediate and measurable.

CONSULTING, LECTURING AND THOUGHT LEADERSHIP

Consulting and education can become a respectable side hustle for ODs. Opportunities include:

• Industry consulting: Product feedback, advising on medical devices, pharmaceutical launches, etc.
• Practice consulting: Helping colleagues with cold starts, practice management, sales training, etc.
• Legal consulting: Serving as expert witnesses in medico-legal cases.
• Lecturing: Speaking at continuing education (CE) events or for company-sponsored programs.

The common thread is being recognized as a trusted voice in the profession. However, keep in mind that not all consulting gigs pay handsomely. In fact, some CE events only pay speakers around $350 per lecture hour and offer a measly travel stipend. That’s $350 for the many hours it takes to research clinical insight, create content and design a presentation, not to mention taking time out of the office.

FINAL WORDS

An optometrist’s career and income potential is not determined solely by clinical skill. It is shaped by how broadly an OD chooses to develop their professional profile. By strategically investing in the right mix of clinical training, business knowledge and human connection, today’s optometrists can build careers that are not only financially robust but also deeply fulfilling.

For more on professional development, read “The Silent Struggles of Opticians—and Why Empathetic Leadership Matters” here.