Episode #182

20/20 Money Episode # 182 – The 3 basic variables that influence the revenue (and thus profitability) of an optometry practice

May 2, 2022

Sometimes we can lose focus of just how simple business can be, and an optometric practice isn’t any different. In this episode I’ll break down the three factors that, when multiplied together, will give you the top line, gross revenue of your practice. I’ll then walk you through the mindset and logistics of how you can use this number to start thinking about intentionally creating the practice that ultimately serves you and your personal goals.

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.

Resources:

Start Planning Today

Don’t miss out on exclusive access to financial tips, strategies, and expert-led webinars. Subscribe to the “Planning Life, On Purpose” newsletter today and stay ahead of the planning curve!

Register for “Looking back to look ahead” tax planning webinar

Do you have an “intentional” practice? – Review of Optometric Business

Plan your year: an introduction to free, focus, and buffer days (episode 114 of 20/20 Money)

Episode Transcript

Enjoy our content? Subscribe for regular updates!

Related Podcasts

  • Financial Planning
Building the perfect portfolio when you own a practice

The investments you own may be perfectly reasonable—and still be completely wrong for you. In this episode of 20/20 Money:…

When success quietly creates too much risk

You may feel diversified while quietly becoming more dependent on the exact same sources of wealth. In this episode of…

Does your optometry practice even need a front desk anymore?

What if one of the most familiar parts of your optometry practice is also one of the things most overdue…

  • Financial Planning
The 401(k) rules have changed. Has your retirement plan?

If your practice has been using the same retirement plan for years simply because “it works,” you may be leaving…

  • Practice Management
Why your optometry marketing isn’t working with Jeremy Bono from IDOC Marketing

Your next patient may already be looking for an optometrist—and choosing someone else before you ever know they existed. On…

Is optometry too focused on specialty services? A discussion with Dr. Kyle Klute

What if the pressure to add specialty services is distracting you from the value already sitting inside your practice? In…