Episode #252

20/20 Money Episode #252 – Overrated and Underrated Practice Management Metrics in the Business of 0ptometry with Dr. Matt Mitchell

September 4, 2023

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Matt Mitchell, OD. Matt joins me back on the show to put a light-hearted spin on some of the traditional practice benchmarks that are used in the profession. He talks about benchmarks that he feels are a bit over-rated in their use and dependency and which complementary benchmark that could be used that is under-rated, but still very impactful in helping you know the KPIs (key performance indicators) of your practice that can help you run a smooth and profitable practice.

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 monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!

And with that introduction, I hope you enjoy my conversation with Dr. Matt Michell, OD.

Resources:

20/20 Money Community Information

Episode 182 (Three Variables that influence revenue)

Episode 178 (Scheduling to profitability with Dr. Gina Wesley)

SolutionReach (Software for recalls)

Buying and growing a rural optometry practice

Adding an associate by understanding marginal chair cost

Episode Transcript

Enjoy our content? Subscribe for regular updates!

Related Podcasts

  • Financial Organization, Financial Planning, Practice Management
20/20 Money Episode #268 – 20/20 Rewind: Forget goal-setting and focus on purpose: a mindset conversation with Stephanie Bogan

Welcome to this episode rewind of 20/20 Money! I think I’m starting a bit of a tradition, because I felt…

  • Financial Organization, Financial Planning, Practice Management
20/20 Money Episode #267 – Year end planning with Bethany Fishbein, OD

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Bethany Fishbein, CEO of The Power…

  • Financial Organization, Financial Planning, Practice Management
20/20 Money Episode #266 – Selling or buying an optometry practice? An update on practice transitions nationwide with Erik Ferjentsik, MBA

Welcome to this episode of 20/20 Money! My guest on today’s show is Erik Ferjentsik, MBA, founder of Visionary Practice Group.…

  • Financial Organization, Financial Planning, Practice Management
20/20 Money Episode #265 – Being intentional with cash flow around year-end planing with Jackson Pace, CPA

Welcome to this episode of 20/20 Money! My guest on today’s show is Jackson Pace, founder of the Refractional CFO.…

  • Financial Organization, Financial Planning
20/20 Money Episode #264 – Year-end planning considerations (guest appearance on Power Hour podcast with Dr. Bethany Fishbein, OD)

Welcome to this episode of 20/20 Money! This is my guest appearance on The Power Hour podcast hosted by Dr.…

  • Financial Organization, Financial Planning
20/20 Money Episode #263 – Is owner-financing right for my practice? Guest appearance with Erich Mattei on Akrinos Access Live

Welcome to this episode of 20/20 Money! This episode is my guest appearance on Akrinos Access Live, a livestream hosted by…