Practice Management

How to Find the Right OD Alliance–One that Offers 2:1 ROI Through Vendor Rebates

Sponsored Content

By Dave Brown
President and CEO,
IDOC

Sept. 25, 2019

In competitive times for independent practices, any advantage could make the difference between poor results and profitability. An optometric alliance can be that advantage if you choose the right one.

New Partnership, New Opportunities
To paraphrase Simon Sinek from his excellent Ted Talk and book “Start with Why” – people can very easily tell you what they do. And they can readily say how they do it…but people struggle mightily to articulate why they do what they do.

When I first came across Sinek’s video I was struck by the power of that message, and immediately set about determining how IDOC could use this principal to further set us apart in the world of alliances and buying groups for independent optometrists.

Finding the Right Alliance

Why IDOC? The numbers tell the story.

• Average annual IDOC vendor discount: $4,200 per member*

• Average IDOC member ROI: 2:1 through vendor rebates*

• Average IDOC Select Member return on annual dues: 300%+*

*Amongst rebates issued to IDOC members who earned a rebate in 2016.

The timing was perfect as we were embarking on an update to the IDOC Strategic Plan to keep us on a strong growth trajectory, post IDOC’s partnership with Investors Management Corporation (IMC) in late 2016.

IMC is a “forever investor” that seeks to partner with companies and business leaders that share this forever mindset. This means investment decisions, strategies and innovative ideas are given the time and energy to allow for success.

Rarely are opportunities not pursued because the time frame for return on the investment is not fast enough. IMC and IDOC share a foundational belief that “business is a force for good,” and that is what led us to our partnership in the first place—the great work that independent optometrists do every day for their patients and local communities across the U.S.

Identifying the “Why” Behind Our Mission
As the strategic plan process proceeded, we involved all our employees at IDOC to articulate our “Why.” In the end, it was not as hard as I thought it might be. We rapidly aligned on why we go to work every day—TO EMPOWER INDEPENDENT OWNERS TO LIVE THE PRACTICE OF THEIR DREAMS.

Every member of IDOC chose to be an independent optometrist, years ago or maybe just recently. They made that choice because they have a dream—a dream about where to practice, who to serve, areas of care to pursue and even their hours, their colleagues and their vacation time too!

With our “why” energizing us every day, we go to work at IDOC to empower those dreams. Each dream is unique, and we strive to provide the products and services to make it come true. We do so via a dedicated single point of contact for your practice, consulting expertise, vendor partner programs, data and insights programs, new innovative services and countless peer-to-peer education and learning opportunities.

Dream it. Do it.
We at IDOC like to say “Dream it. Do it.” We are here to help you do it and make your dream a reality today, tomorrow and for many years to come.

Here are a few IDOC members in their own words:

On Joining IDOC
“From day one, I utilized every aspect of [IDOC]” – Cindy Seeman, practice owner

On IDOC’s Differentiation
“The differentiator is the practice management consulting. You can get a discount from a lot of people, but IDOC’s practice management consulting is what separates it.” – Howard Day, OD

On Defining the Practice of My Dreams
“It looks like my practice today. I’m very fortunate. Nathan [Hayes, IDOC Finance Consultant ] helped me get there. I’m doing what I want to do.” – David Kisiolek, OD

Finding the Partner You Need to Succeed
There are many optometric alliances you could join. The question is which will help get you to the ideal practice you envision. IDOC is the partner that can help you do that.

 

Dave Brown is the president and CEO of IDOC. To contact him: dbrown@idoc.net

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