To help practices with benchmarking and inform future policies, University of Auckland BOptom student Georgia Cheng is conducting a study into optometry practice charge-out rates and operating expenses in New Zealand.
To date, there has been no data published regarding the economics of running an optometry practice in New Zealand, said Auckland University teaching fellow Robert Ng, one of Cheng’s supervisors at the School of Optometry and Vision Science. “This makes it difficult for independent practices to know where they stand compared with other practices.”
It also makes it difficult for government agencies to set pricing for optometric services, for example the Ministry of Social Development’s $249 support package for eye tests and glasses for low-income New Zealanders.
Since practice management, accounting and finance don’t form part of the University’s optometry course, directors and shareholders often have limited knowledge in this area, said Ng, although optometry practice-member groups, such as the Independent Optometry Group (IOG) and Eyepro, collect some data to support their practices.
Cheng is seeking to enrol as many practice owners as possible in the study, who will be asked to share their operating expenses.
