2015 - 2016 Annual Report

TRANSITION

A MESSAGE FROM DR. BARRY THIENES Building on last year’s initiatives, the Canadian Association of Optometrists (CAO) continues to ensure optometry’s voice is heard loud and clear on Canada’s healthcare stage. Our Strategic Plan called for change, and CAO delivered just that. Through building connections, continuing to implement our GR strategy, and supplying optometrists with the resources to thrive in an era marked by significant change, CAO has positioned optometrists to meet the challenges faced by the profession head-on.

As I enter my second year as president, I am pleased to see the enormous progress we have made on our strategic goals. We have become better at leveraging our existing assets and strengths in order to deliver on objectives. We are also better positioned to serve members. 2016 marks the end of the current strategic plan and we will take the time required to reflect on what has been accomplished and determine what more needs to be done. As always, we will seek the counsel of our members in determining the way forward and we will work hard to share with members the information we gather along the way. The goals set out in 2014-2016 Strategic Plan are now in view. The progress made in the 2015-2016 year has solidified optometry’s voice and put us on the map as a necessary part of primary healthcare. Things are looking up. Sincerely,

Dr. Barry Thienes President

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WE HEAR YOU

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The voice of doctors of optometry – Achievements

• Advocacy efforts in the 2015-2016

year effectively positioned CAO as an influential voice on health policy and legislative initiatives. We held our second Hill Day in May, during National Vision Health Month.

• The inaugural Vision Champion Award went to Pat Davidson, MP for her tireless commitment to Private Member’s Bill, C-313 An Act to Amend the Food and Drugs Act (non-corrective contact lenses).

• I represented CAO at the Canadian Medical Association general delegates meeting held in Halifax. Participation in this invitation-only activity marks a huge step towards recognizing optometrists in Canada as primary healthcare providers.

• CAO also met with ophthalmology in December for dialogue about shared frequency guidelines and potential future partnerships, and continues to engage with all eye health stakeholders in pushing forward a National Framework for Action to Promote Vision Health and Prevent Avoidable Blindness.

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WE SUPPORT YOU

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Support doctors of optometry nationwide – Achievements

• A new liability insurance offering which provided increased value and improved services, including an online renewal process and extended coverage.

• The Biennial Congress in Fredericton, New Brunswick was a great success bringing together optometrists from across the country to share in future focussed continuing education.

• Congress also gave CAO the opportunity to touch base with members and get their feedback on the future’s biggest challenges and opportunities. We then used that feedback to increase our focus in certain areas and make adjustments in course where necessary.

• CAO released a glaucoma screening tool for family physicians. A collaboratively developed document created with our partners at the Canadian Ophthalmological Society (COS), Canadian Glaucoma Society and the College of Family Physicians.

• We also shared information on the effects of smoking on the eyes, AMD and nutrition for your eyes with the public. Members received legal tips, new case studies and an update on incident reporting.

• Improvements were made to the Canadian Certified Optometric Assistant’s Program that led to a 15-percent increase in participation rates. We launched a new subsite for Optometric Assistants and extended the Assistant’s View newsletter to all OAs.

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WE PLAN FOR YOUR FUTURE

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The Future of the Profession – Achievements

At our annual gathering of optometric leaders for the Optometric Leadership Forum (OLF), CAO explored the opportunities and best practice options available to the profession from both a retail and clinical perspective.

We recognize that we have some challenging obstacles to overcome. The world is changing quickly in regards to e-commerce. CAO is collaborating to develop ethical and successful e-commerce models while educating the public on the importance of comprehensive eye exams.

• In the meantime, CAO has enabled optometrists to capitalize on the opportunities presented by the digital age with its new offering “MyOptoSite”, a tool that helps ODs to create professional, easy to understand websites. This was a natural next step after the “Find a Doc” tool, and effectively increases connectivity between optometrists and patients.

• As the profession continues to expand its scope of practice, we need to ensure that relevant research and practice information is available to our members. Today’s research is tomorrow’s practice.

Based on the overwhelming response to 2014’s Dry Eye supplement, the CJO released two supplements, one on cataracts and the other on contact lenses.

Support to Student Members CAO increased its focus on student members in keeping with strategic objective number four. We have increased our engagement with CAOS which has led to better discussions and a keener understanding of students’ needs. Among other things, CAO supported the delivery of the practice management course at Waterloo, student lab coats at Waterloo and Montreal as well as, awards presentations. From t-shirts to the annual yearbook, CAO continuously seeks to

support the youth of our profession. In addition to our regular activities we also introduced:

• Complimentary business cards • A joint application form with CAO and

CAOS and • The development of a student member

subsite.

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WE ARE EFFECTIVE AND EFFICIENT

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Effective and efficient, enabling high performance – Achievements CAO continued to make a number of changes to process in 2015/16 reflecting our commitment to continuous improvement.

• CAO Council went through a governance renewal process and put in place a more contemporary and effective governance structure.

• Council also undertook a complete review of the by-laws and policies of the organization.

• We enhanced the accounting function, including the use of new software.

• We reviewed and improved financial processes and implemented stronger internal controls and financial management reporting.

• CAO reinvested in our property to ensure ongoing market appreciation.

• One of our key investments was in the development of a new data-base due to launch in the fall of 2016.

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STRATEGIC OBJECTIVES 2014-2016

1. To be the voice of doctors of optometry on federal vision care issues

1.1 Define a national vision strategy for CAO

1.2 Build relationships with select vision care stakeholders ( e.g., Colleges, Canadian Ophthalmological Society, Opticians Association of Canada, Family Physicians, CNIB, patient advocacy groups) around the role of eye care providers in primary health care

1.3 Build/strengthen relationships with federal government bureaucrats and elected officials in Health Canada, Public Health Agency of Canada, House of Commons and Senate, and advocate for the role of the doctor of optometry in primary health care.

1.4 Build relationships with insurance companies and advocate for patient choice and safety as well as change in policies regarding unregulated reimbursements.

1.5 Develop national position statements to inform public policy, endorsing and extending where possible, the work of the provincial associations

1.6 Gather evidence to support the advancement of optometry

2. To support doctors of optometry nationwide in practicing successfully through working in conjunction with the provincial associations

2.1 Strengthen and deepen relations with the provincial associations through sharing information and consulting about CAO priorities and national initiatives

2.2 Work with the provincial associations to identify gaps in services to help individual ODs be more successful in their practices.

2.3 Provide support to the provincial associations in their advocacy efforts

2.4 Provide support in increasing the public’s awareness of the role of doctors of optometry as independent primary health care providers and increasing routine and emergency visits to their office

2.5 Provide support through making available evidence-informed clinical practice guidelines developed by others (e.g. American Optometric Association, Eye Health Council of Ontario) or by establishing expert task forces to fill prioritized gaps

3. To facilitate dialogue about the future of the profession

3.1 Establish an infrastructure for environmental scanning and reporting

3.2 Establish and support an Optometry’s Futures Panel to advise on creating the future for the profession

3.3 Develop a response to the Optometry’s Futures Panel recommendations and take action

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3.4 Reach out to patient groups to understand needs and perceptions

4. To provide support for students as they prepare to enter the workforce

4.1 Develop an engagement strategy for students.

4.2 Strengthen the connection with Canadian students in the US

4.3 Strengthen the practice management education offering

4.4 Develop residency and externship opportunities for students

5. To manage an effective and efficient organization that enables high performance

5.1 Align the governance structure, policies and practices of Council and its Committees

5.2 Review current CAO programs to ensure alignment with the goals

5.3 Increase internal capacity and ensure appropriate checks and balances

5.4 Expand CAO’s revenue opportunities including CAO’s relationship with industry partners

5.5 Increase utilization of the DOC brand to advance CAO’s goals

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FINANCIAL REPORT CAO has made significant improvements in its financial management function during the 2015-2016 fiscal year. Along with the implementation of new accounting software, enhanced internal and external financial reporting and internal control measures were put in place. One key area of focus was budget management where we more closely aligned expenses with our five strategic goals as illustrated below.

Overall fiscal year results were better than anticipated. CAO yielded an excess of revenue over expenses of $9,707. The positive results are indicative of the tight controls on spending that have been implemented.

Total revenues for the year were $2.8M. Of this total $1.16M was derived from membership dues, $653,000 from Congress and Canadian Certified Optometric Assistant (CCOA) workshop registrations, $391,000 from Vision at Work and $600,000 from non-dues, sponsorship and other revenues.

Total expenses for the year were $2.7M. Of this total $901,000 was attributed to salaries and benefits, $319,000 to Council and meeting expenses, $510,000 to Congress and CCOA workshop expenses, $100,000 to NPEC and $960,000 to CAO operating expenses.

Overall, there was a 3.8% decline in CAO’s investment portfolio. Market value losses were largely offset by foreign exchange gains in the US dollar component of the portfolio.

10%

11%

2%

51%

9%

18%

2015-16 EXPENSES BY STRATEGIC GOALSNational Voice of theProfession - Advocacy &PolicyGovernance

Support & Services toStudents

Support & Services to ODs

Research & Preparing for theFuture

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Investment in CAO’s future has been made through the purchase of key capital assets. In particular, software technology has been purchased and is currently being implemented to manage CAO’s membership and CCOA databases.

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STATEMENT OF FINANCIAL POSITION

March 31, 2016 March 31, 2015

Current AssetsCash 773,362$ 410,198$ Receivables & Prepaid Expenses 459,114 236,234

Long-Term AssetsCapital Assets 469,736 2,463,832

Investments 1,975,950 335,613

Total Assets 3,678,162$ 3,445,877$

Current LiabilitiesPayables & Accrued Liabilities 417,570$ 83,254$ Deferred Revenue 340,668 602,195

Long-Term LiabilitiesNPEC Restricted Fund 773,042 623,253

Total Liabilities 1,531,280 1,308,702

Net AssetsInvested in Capital Assets 469,736 335,613 Unrestricted Net Assets 1,677,146 1,801,562

Total Equity 2,146,882 2,137,175

Total Liabilities & Equity 3,678,162$ 3,445,877$

STATEMENT OF OPERATIONS

March 31, 2016 March 31, 2015

RevenueMembership Dues 1,166,150$ 281,820$ Event & Registration Revenue 905,255 132,744Non-Dues Revenue 728,457 292,082

Total Income 2,799,862$ 706,646$

ExpensesOperating Expenses 959,475$ 250,630$ Council & Meeting Expenses 319,159 48,058Event & Workshop Expenses 510,371 161,767NPEC Contribution 100,000 25,000Salaries & Benefits 901,154 232,058

Total Expenses 2,790,159$ 717,513$ 9,707$ $(10,863)Excess (Deficiency) of Revenue Over Expenses