Coronavirus (Covid-19) has had an unprecedented impact on the way optical practices are operating and how decisions are being made by practice owners. Imran Hakim, CEO of the Hakim Group, explained during a webinar on March 19 that it is essential these decisions are made correctly in the interest of the health of families and businesses. ‘Small business owners are attempting to navigate an overload of information to continue business as usual against a backdrop that is anything but usual,’ he said.
The webinar was arranged for the entire industry at the last minute by Hakim after he hosted one for the group’s independent practices. He recognised a desire to share information and advice so the industry could pull through this situation together.
Speaking to Optician, Hakim shared: ‘There was such an overwhelming feeling of positivity, goodwill and hope that we’re not on our own and we’re doing this together. These are decisions you can’t make without some frame of reference and without discussing with people so that you’ve got some context and support. I felt sorry for the independents out there that are trying to navigate this by themselves.’
The result is a network ‘in the loosest sense’ whereby ideas and advice can be shared in order to inform decision makers in an unprecedented situation. Hakim explained: ‘We are in a situation of relative chaos. This is me trying to pull together the most important details so that people can digest and make sensible decisions. I don’t have an agenda or a plan other than an idea that if we work together we will get through this a lot faster and with greater probability than if everyone is trying to scurry around in rabbit holes figuring out what to do.’
Around 1,000 people from across the industry took part in the webinar with just 12 hours’ notice. It was designed to provide guidance and advice for practices on how to form a plan that is agile and can flex depending on how the situation evolves.
Highlighting the importance of the industry working together, Hakim said: ‘This virus knows no industry, no country and no colour. It is having a universal impact. It is an evolving situation that we’re watching and planning for on an hour by hour basis.’
Imran Hakim
Filling the gap
At the time of interview, Hakim Group practices were still operational in the UK apart from in practices where staff have had to self-isolate and in Ireland where the situation is more developed. Speaking of the situation in Ireland, Hakim said: ‘There is considerable worry for the health of their loved ones first and foremost and, secondly, concerns around how they ensure that they’ve got a business to go back to.’
During the webinar, Hakim said that closure would be a last resort as dictated by the government or a significant outbreak in a particular location. He shared that in the week prior, cancellations increased and signs of sales being impacted were evident. Hakim expects a soft second quarter but that any period of weaker trading will be followed by a stronger one.
The role of optometrists could change at any point as the NHS looks to cope with an increasing demand of coronavirus patients. Optometrists could be called upon to alleviate this stress by providing care in the community, although this remains uncertain.
Hakim said: ‘We are waiting patiently to see what news we get so that we can take appropriate action but I wouldn’t rule out periods of practice closure just as much as I wouldn’t rule out us having to stay open as key workers. We’re in no man’s land waiting for the information to come through. As optometrists we are very well placed to do our bit when the country most needs us to support frontline NHS staff in hospitals. It is essential that we take all necessary precautions and provide our teams with the correct protection and guidance.’
He predicted that if optometrists are called upon, then it will be to support the gap left behind by colleagues in eye departments who are dealing with an influx of coronavirus patients.
‘We have to be very careful that while our focus is on Covid-19, what doesn’t happen is other vulnerable people who require treatment at hospital, potentially with sight or life-threatening conditions that can be detected in an optical practice, are missed,’ Hakim explained.
Strategic steps
Hakim’s strategy focuses on four key areas including communication, strategy, action and interpretation, and leadership.
During the webinar, Hakim explained what steps practice owners should take to ensure that staff are prepared for any eventuality. He shared that open channels of communication should be utilised because information is changing and becoming outdated quickly. To support this, a dedicated website has been set up for optometrists to access a coronavirus strategy pack and future webinars. Resources such as cashflow spreadsheets and letter templates have also been made available.
When discussing strategy, Hakim said that ‘cash is king, queen and everything else’ in order to have a business once normality has been restored. Steps such as devising a continuity plan, maximising revenue opportunities and managing costs should be taken. He shared that all non-essential spending has been stopped at the Hakim Group in order to keep money in the bank in case trading has to stop. Hakim advised speaking to landlords to ask for a rental holiday as well as cancelling direct debits for business rates.
‘In this situation, the two main elements that a strategy should cover are what your finances are or what your cost management looks like,’ Hakim shared, noting the importance of making use of government support, managing discretionary spend and having conversations with creditors, landlords and banks.
Hakim shared that as optical businesses pay rent and rates on the high street, they fall into the category of retail and are therefore eligible for the small business rates relief announced by the government. ‘We view ourselves as healthcare, which we are, but we are also retailers,’ he said.
‘The second part is you’ve got to have a good people strategy,’ Hakim continued. ‘Your people strategy has got to be flexible depending on whether we come under the broad umbrella of being a key worker or forced into isolation,’ he said.
‘We have to react by making the right decisions at the right time so that when this is done, business as usual can resume and the people who rely on us as business owners are available because we’ve managed and led the business through this turbulence. As business owners we have to be leaders,’ Hakim added.
Richard Whittington, chief executive of the Local Optical Committee Support Unit (Locsu), provided an update on what optical bodies are doing to help optical practices during the webinar.
He explained that the Optometric Fees Negotiating Committee, which is made up of members from the Association of Optometrists, the Association of British Dispensing Opticians, the Federation of Ophthalmic and Dispensing Opticians and British Medical Association, are negotiating with NHS England on four areas.
These areas include supporting practices to navigate through any downturn in general ophthalmic services, ensuring that practices and staff are seen as delivering essential care, simplifying the regulatory process and formulating a national approach in order to take pressure off GP and hospital colleagues.
Whittington noted that Locsu is encouraging practices to form a close relationship with their local optical committee in order to stay up to date.
Successfully navigating through this situation is reliant on considering the right information and applying it correctly, Hakim said. ‘Our guiding principle has always been that we will never put any of our people, our patients and ourselves in harm’s way. The health and wellbeing of our people comes first,’ he shared.
Hakim highlighted that practices should follow the guidance provided by government, NHS England and Public Health England. ‘Safeguard your people at home and at work, as well as yourself, for what hopefully is a short period that we can confine to history,’ he concluded.