The equation you are quoting gives the power of a lens in terms of its geometry and refractive index. Simply rearranging the terms (dividing by $n$) gives you an expression for $\frac{1}{f}$ which is known as the power of the lens and is expressed in diopters. For the usual situation of a lens in air, we can put $n=1$ which leaves you with an even simpler expression for $\frac{1}{f}$.
The nice thing about diopters is that they are additive. If you put a lens with a power of 1 next to a lens with a power of 2, you end up with a composite lens with a power of 3 (as long as the distance between them is small compared to their focal length).