What is the most important development within optometry?

This particular question created an interesting repsonse from one of our members which I thought might be of interest. Answers are as follows:

1. Eligibility to participate in 3rd party billing for medical problems
2. Technology which has elevated optometry prowess in diagnosing and managing eye diesease
3. Flight from routine and even minor medical eye care by ophthalmology. Optometry has filled that void in many cases
4. 4 new optometry schools to open in the next 4 yrs.
Whilst answers one and four only relate to the USA market (and we would welcome more input from our American readers), does anybody else have some thoughts on what the most important development within Optometry is?

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Please note: This is an article written by a resident of the USA and is intended only for that market. If you are a resident of another country, please seek advice from an appropriate source.

I took some time yesterday to talk a little bit about different types of retirement plans to set up for your business and which ones are most beneficial. I’d first like to talk about a SEP, or a Simplified Employee Pension. A SEP allows you to set up an IRA (a “SEP-IRA”) for yourself and each of your eligible employees. You contribute a uniform percentage of pay for each employee, although you don’t have to make contributions every year, offering you some flexibility when business conditions vary. For the newer small businesses and practices of Indianapolis, this is a great plan to get started with in the beginning.

For 2008, your contributions for each employee are limited to the lesser of 25% of pay or $46,000. Most employers, including those who are self-employed, can establish a SEP.

SEPs have low start-up and operating costs and can be established using an easy two-page form. The plan must cover any employee aged 21 or older who has worked for you for three of the last five years and who earns $500 or more.

Next time, we’ll talk about the SIMPLE IRA plan. Til next time…
Adam Cmejla is a financial planner located in Indianapolis, IN.  He can be reached via email at acmejla@wradvisors.comor (800) 878-4517.  Readers of the above post should not act based solely on the information provided.  Since the details of your situation are fact dependent, you should not proceed without first seeking appropriate advice from a tax professional, financial planner, lawyer or other professional. 

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Please note: This is an article written by a resident of the USA and is intended only for that market. If you are a resident of another country, please seek advice from an appropriate source.

If you’re an optometrist who owns their own practice or is a partner in a practice and you haven’t established a retirement savings plan, what are you waiting for? A retirement plan can help you and your employees save for the future. And you’ll be in good company–over 1 million small businesses with 100 or fewer employees currently offer workplace retirement savings plans.
Let’s first take a look at a number of the tax advantages that are advantageous for a business with a retirement plan.  A retirement plan can have significant tax advantages:
• Your contributions are deductible when made
• Your contributions aren’t taxed to an employee until distributed from the plan
• Money in the retirement program grows tax deferred (or, in the case of Roth accounts, potentially tax free)
• You may be able to claim a tax credit equal to 50% of the cost to set up and administer a retirement plan, up to a maximum of $500 per year for each of the first three years of the plan
• Certain low- and moderate-income employees may be entitled to a tax credit (”saver’s tax credit”) for a portion of their contributions to the plan
Currently, there are many different types of plans to choose from. Finding out which plan is going to be best-suited for your practice is very important.  Retirement plans are usually either IRA-based (like SEPs and SIMPLE IRAs) or “qualified” (like 401(k)s, profit-sharing plans, and defined benefit plans). Qualified plans are generally more complicated and expensive to maintain than IRA-based plans because they have to comply with specific Internal Revenue Code and ERISA (the Employee Retirement Income Security Act of 1974) requirements in order to qualify for their tax benefits. Also, qualified plan assets must be held either in trust or by an insurance company. With IRA-based plans, your employees own (i.e., “vest” in) your contributions immediately. With qualified plans, you can generally require that your employees work a certain numbers of years before they vest.
So, which plan is right for you and your practice?  With a dizzying array of retirement plans to choose from, each with unique advantages and disadvantages, you’ll need to clearly define your goals before attempting to choose a plan.
For example, do you want:
• To maximize the amount you can save for your own retirement?
• A plan funded by employer contributions? By employee contributions? Both?
• A plan that allows you and your employees to make pretax and/or Roth contributions?
• The flexibility to skip employer contributions in some years?
• A plan with the lowest cost? Easiest administration?
The answers to these questions can help guide you and your retirement professional to the plan (or combination of plans) most appropriate for you.  In the next couple of posts, we’ll discuss IRA-based and qualified plans and take a look at some of the requirements and details of each one.

Adam Cmejla is a financial planner located in Indianapolis, IN.  He can be reached via email at acmejla@wradvisors.com or (800) 878-4517.  Readers of the above post should not act based solely on the information provided.  Since the details of your situation are fact dependent, you should not proceed without first seeking appropriate advice from a tax professional, financial planner, lawyer or other professional. 

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Please check back regularly as this page will be continuously updated.

Last updated: 8th November 2008

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Essilor hosts a free CET article open to all UK registered Optometrists and Dispensing Opticians.

This article is written by Professor Mo Jalie SMSA, FBDO (Hons), Hon FCGI, Hon FCOptom, MIMgt. Professor Jalie is visiting Professor in Optometry at the University of Ulster, Coleraine. He taught ophthalmic lenses and dispensing in the Department of Applied Optics, City & East London College for thirty years and was Head of Department from 1985 to 1995.

This article takes a detailed look at the impact of moving the progressive surface from the front to the rear of a lens. The article covers an overview of the Minkwitz theorem, which highlights the affect of progression length on unwanted astigmatism. Professor Jalie given a detailed explanation along with field of view calculations through a progressive lens with the progression on both the rear and front lens surfaces. An overview of the latest “free-form” surfacing generators is also given.

Learning Objectives:

Following this article delegates will have a much greater understanding of,

• How the length of the progression affects the amount of unwanted surface astigmatis
• How the field of view is specified for a spectacle lens
• How the position of a progressive surface affects field of view, and
• How the latest surfacing technology allows for the location of the progressive surface to be placed on the rear or front surface of the lens

This article has been accredited for 1 General CET point.

The deadline for responses is 30th June 2009

Download a copy of CET article C9375

Take the test online now

Download a copy of the MCQs for article C9375 for later to post or fax to us.

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he College of Optometrists has issued calls for Nomination to Council for 2009. There are vacancies in seven regions, and practising members in each of these regions are encouraged to stand.

The vacancies exist in Northern Ireland, Scotland, London, Wales, Eastern, London and the South West.

Council Members are elected in a total of twelve regions: nine regions in England plus Northern Ireland, Scotland and Wales. Members are eligible to stand as a candidate in the region where they live or work and are elected by other College Members living or working in that region. Council Members serve a term of 3 years up to a maximum period of twelve years.

Key areas of the College’s activity include developing and promoting standards for the profession, developing the professionals of the future, identifying research priorities and providing funding to ensure that research is carried out, promoting understanding of the profession with the public and providing professional support to Members. The College Council plays a pivotal role in determining policy and strategy for the College and in ensuring its responsiveness to the needs and views of the membership. Council Members are the College’s representatives in the region for which they have been elected and are volunteers who:

• Act as the conscience of the College, monitoring the performance of the Board of Trustees and ensuring that the College remains true to its principles and fully accountable to its membership.
• Elect the President, Vice President, Treasurer and Trustees.
• Bring Members’ views directly to the College’s attention and share the College’s thinking, direction and activity within his/her region.
• May be asked to act as the College’s spokesperson in their region in response to local media enquiries.
• Attend Council meetings three times each year - one is held in London, one is an overnight meeting held outside of London, and one is a brief election meeting during the College’s Annual Conference.
• Have the opportunity to join one of the College’s Standing Committees, sub-committees or working groups. Any Council member may attend any Standing Committee meeting as an observer.
• Provide regional input for the College’s communications.
• Support College or other events in their region.

President of the College, Dr Rob Hogan said

“The College of Optometrists belongs to and works for and on behalf of its Members. Our governance structure is designed to ensure that the College’s direction and strategy are informed by the needs and views of an elected and representative cross section of our membership. The College Council sets the strategic and professional direction of the organisation. I would encourage any Member who wishes to be involved in the development of our profession to stand for election.”
Council members are volunteers, but all reasonable expenses will be reimbursed, including childcare expenses incurred as a result of attending College meetings.

For further information please contact Ellen Colquhoun, Head of Marketing & Communications on 020 7766 4342 or email:ellen.colquhoun@college-optometrists.org

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The Optometry Blog is fast becoming a destination for Optical professionals to get upto date Optical information and sector news and we would like to invite our members to write a blog on any subject (within Optometry!) which interests them. The posts can be about anything within Optometry and we would welcome any aspects or perpsectives.

You will keep all rights and be named as the author of the article and In addition to this we will also put reciprocal web links into the article so your site/business/profile will benefit from increased traffic.

All interested parties can contact me directly on david@ukoptometry.co.uk

Thank you.

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A note from the College of Optometrists:

Eye experts advise on how to stay safe this Bonfire night:

Remember remember the fifth of November, gun powder, treason and plot.

But take care of your eyes as the fireworks fly, it’s something that shouldn’t be forgot.

CET C 10082 Visual Recognition and Interpretation of Clinical Signs – Optical Low Vision Aids.

This online VRICS quiz, developed by Jane Macnaughton, consists of a series of high resolution images of optical low vision aids. This presentation encourages the practitioner to discuss with peers or use other means of investigation available to interpret the pictures and come to a conclusion on diagnosis or onward management.
To receive your CET points for this article, complete the Multiple Choice Questions. A pass mark of 66% (8 out of 12 correct answers) must be achieved. Only one attempt is allowed.

The deadline for responses is 31st October 2009

Learning Objectives

The aim of this quiz is to:

1. Encourage understanding of optical low vision devices: hand magnifiers, stand magnifiers, spectacle magnifiers and telescopic magnification.
2. Encourage understanding of the application of CCTV and video magnifiers.
3. Understand the use of and limitations of optical low vision devices.