Shows
20/20 MONEY: The Business of OptometryDesign tips to maximize the patient experience (and thus your profitability) with Bill GerberYou know optical design is important, but you also know it's complicated. Where do you begin? How much should you spend? What should you focus on? On this episode, my guest on today's show is Bill Gerber, founder and CEO of the Optical Marketing Group. Bill joins me to talk about the role practice design plays in patient experience and overall financial performance. We discuss how thoughtful design can influence capture rates, why understanding your ideal patient avatar matters, and how to recognize when your space needs a refresh. Bill also shares common design pitfalls, h...
2026-02-1656 min
20/20 MONEY: The Business of OptometryPREVIEW: The Optometry Success Podcast - Reducing business risk when adding associate ODs in an established practiceThe Optometry Success Podcast, hosted by Adam Cmejla, CFP and Chad Fleming, OD, FAAO helps private-practice optometrists build profitable, sustainable businesses with clarity and confidence. Hosted by Adam Cmejla, CFP—a financial planner and CFO to ODs nationwide—and Chad Fleming, OD, FAAO—a multi-location practice owner with decades of hands-on experience—each 20-minute episode delivers practical strategies and actionable insights you can apply right away. From leadership and financials to team culture, operations, and growth, this is your weekly dose of real-world advice for real-world practice owners. New episodes every Wednesday. Please be sure to subscr...
2026-02-1120 min20/20 MONEY: The Business of OptometryWhy value creation matters more than timing your exit: a conversation with Tom TurmellIf you wait until you're ready to sell to start planning, you're already late. My guest on today's show is Tom Turmell, founder of TMT Capital. Tom joins me to talk about practice ownership, succession planning, and what optometrists need to understand long before they ever think about selling their practice. We discuss why creating value ahead of a transition matters, the importance of having the right advisory team in place, and how personal goals should drive exit decisions—not the other way around. Tom also shares why checking out during the sale process can be...
2026-02-091h 0620/20 MONEY: The Business of OptometryHow one owner left his practice for 30 days—and why more owners should consider itIf you've ever felt chained to your practice and the thought of stepping away for an extended period of time felt impossible, I PROMISE you do not want to miss this inspiring and yet very pragmatic conversation. Dr. Jeremy Ciano joins me back on the show to share his journey of taking a recent sabbatical and what it taught him about business and life. We talk about the challenges of stepping away from a practice, the importance of intentional planning, and building a team that can operate without the owner being involved day to day...
2026-02-021h 0220/20 MONEY: The Business of OptometryFlippin' the script: What I've learned about ODs & the profession of optometry producing 300+ episodes of 20/20 MoneyIn this derivative of a show takeover, Dr. Brianna Rue interviews me to explore my journey in podcasting and the insights I've has gained about the optometry profession. We discuss the challenges optometrists face, the importance of financial literacy, and many other lessons I've learned through and because of the conversations I've had on this show. We cover a lot in this dialogue and—among many topics—our conversation emphasizes the need for clarity in goals, the significance of delegation, and the value of building relationships in practice ownership. Towards the end of the conversation , we also touch on the...
2026-01-261h 1420/20 MONEY: The Business of OptometryImproving your practice by tracking the right KPIs (and ignoring the wrong ones) with Nathan HayesMost practice owners know they should be tracking specific measurables in their practice that will help them understand their paths to profitability. But which metrics should you track, and which ones are more vanity metrics than they are useful and beneficial towards running a profitable and growing practice? In this conversation, Nathan Hayes and I explore the many different KPIs that we have heard practice owners track over the years and the ones we believe all practice owners should be tracking. Resources: Books & Benchmarks Profit Works: Unravel the Complexity of...
2026-01-1959 min20/20 MONEY: The Business of OptometryA blueprint to successfully recruit ODs to join small town practices with Dr. Andy Yaryan, ODArguably the biggest ongoing challenge practice owners face can be lumped into staff—both OD and non-OD alike. This challenge can be amplified for owners in small town/rural practices. Hear from successful practice owner Dr. Andy Yaryan on the approach he's taken to recruit and retain ODs in his small town practice, how he's making the intentional decisions to become a better leader and owner, and the significant results those decisions have had on his life—personally and professionally. Resources: Book a Triage call with Adam Download the Practice Owner's Finan...
2026-01-121h 0220/20 MONEY: The Business of OptometryRemembering my grandpa: 3 financial lessons learned from Grandpa and Grandma Scholz that can shape your relationship with moneyOn this episode, I wanted to share a bit of a personal story about 3 lessons that I learned from my grandparents that have in large part shaped the money story and lessons that have guided my financial journey and how I view and use money money in my life. I hope this conversations gives you a benchmark and different viewpoint to compare your own money values and purpose. If you feel like you don't have a grasp on your own money story and purpose, my hope is that it inspires you to start thinking intentionally about how you make...
2026-01-0536 min20/20 MONEY: The Business of OptometryThe how and why of taking time (literally) out of the practice to work ON your practice with Drs. Julie Helmus & Paul Mormon, ODAlmost every business owner knows they need to spend time working ON and not just IN their business. But what does it mean to take that concept to a whole new level by traveling and spending time outdoors with colleagues and strategic partners? Whether you choose to take time out of your business to work on your business and do it across town or across the country, this conversation with Drs. Julie Helmus, OD and Paul Mormon, OD talk about what it takes and means to truly invest in yourself by finding your tribe and community. This is also...
2025-12-151h 0520/20 MONEY: The Business of OptometryWhy failure can be your friend with Dr. Chris Wolfe, ODWhy failure can be your friend with Dr. Chris Wolfe, ODHow can failure be your friend, and why should you embrace failure? On this episode—which is actually me guest-hosting Dr. Chris Wolfe's podcast EyeCode Media—we discuss a journey Chris has been on for awhile, how he failed, and why he considers the failure a positive influence in his life. I share my perspective of the situation and the lessons practice owners should take away from Chris's experience. Links to grab: Book a Triage call with Adam Download the Practice Owner...
2025-12-0841 min20/20 MONEY: The Business of OptometryFailure and Risk (and why practice owners should embrace them) with Nathan HayesODs tend to be a pretty risk-averse group, which means failure and risk can be avoided or almost taboo topics. But risk is required for any type of return in life. So how should practice/business owners think about risk? If you're embarking on a new growth goals for your practice—like adding an associate doctor—how do you prepare for that investment into the practice and how long do you continue down that path if it's not working? How do you pivot and what are the financial decisions you can make to hedge the risk as best as poss...
2025-12-011h 0620/20 MONEY: The Business of OptometryFinding the right buyer: a PE sale built on trust, not just numbers, with Dr. Adam BryanDr. Adam Bryan shares his journey of transitioning his optometry practice through a private equity sale. He discusses the evolving landscape of optometry ownership, the challenges and opportunities presented by private equity, and the importance of maintaining practice culture during the transition. Dr. Bryan reflects on the decision-making process, the negotiation of the sale, and the communication strategies employed with his team. He emphasizes the need for thorough due diligence and the significance of protecting one's legacy while considering various exit strategies. As a reminder, you can get all the information discussed in today's conversation b...
2025-10-131h 1520/20 MONEY: The Business of OptometryEmbracing vision plans to profitably grow your practiceDr. Chris Smiley offers a contrarian—but experience-backed—perspective on one of the most divisive topics in optometry today: vision plans. While many private practice ODs are dropping them entirely, Dr. Smiley makes the case that with the right strategy, vision plans can actually be a powerful engine for growth, profitability, and sustainability. He challenges the myths around reimbursement, explains how to leverage Coordination of Benefits (COB), and breaks down how most high-volume practices still rely on vision plans to scale. This episode is for any OD who's felt bullied by plans—but still wants to build a thriving privat...
2025-10-0650 min20/20 MONEY: The Business of OptometryHidden financial compression squeezing optometry practices in 2025 (guest appearance on Power Hour)In this eye-opening episode of The Power Hour, host Eugene Shatsman welcomes back Adam Cmejla, Certified Financial Planner, Founder and Owner of Integrated Planning & Wealth Management, and Host of 20/20 Money Podcast — to pull back the curtain on the relentless "compression" squeezing optometry practices right now. 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 your...
2025-09-1559 min
Optometrists Building EmpiresBuilding Practices with Purpose - Adam Cmejla - Optometrists Building Empires - Episode # 011Ready to supercharge your financial strategies and build your optometry empire? Our guest today is Adam Cmejla, a powerhouse in financial advising dedicated to optometrists nationwide. He is the founder and president of Integrated Planning and Wealth Management. In this episode, we'll uncover the secrets behind his expertise, from planning life on purpose to intentional practice ownership. Get ready to take your financial planning to the next level and learn how to optimize your business for ultimate success. Welcome to another exciting episode of Optometrist Building Empires! Takeaways:Establish Clear Goals. Begin with the e...
2024-10-2449 min
20/20 MONEY: The Business of OptometryEvaluating VCPs in your practice to determine which ones to cut with Dr. Adam Ramsey, ODWelcome to this episode of 20/20 Money! My guest on today's show is Dr. Adam Ramsey, OD. Adam joins me back on the show to continue the conversation that we teased at the end of our first conversation which was how Adam evaluated the decision to go out of network with a variety of VCPs that he was taking in his practice. He shares how he came to the realization that he needed to do it, how he evaluated the different 3rd party payors to determine which ones to punt and which ones to keep, how...
2024-05-2056 min
20/20 MONEY: The Business of OptometryUsing Medical Virtual Assistants in your practice to increase efficiency (and profitability) with Dr. Adam Ramsey, ODWelcome to this episode of 20/20 Money! My guest on today's show is Dr. Adam Ramsey, OD, representing VA Healthcare. In this episode, we talk about the role that a virtual medical assistant can play in your practice's patient flow and how to think about the changes that you'd have to make in your practice for this to be a viable option. Adam provides a list of responsibilities that they're doing in his practice and how he thinks through capacity for this person while ultimately striving to deliver the best experience for his patients. As a r...
2024-04-0154 min
Bridge the Gap™ by Revenue ReimaginedEpisode #20 Power in Partnerships 🤝 ft. Daniel CmejlaToday Adam and Dale are joined by Daniel Cmejla, the VP of Community at Apollo.Daniel is a powerhouse when it comes to building partnerships, community, and brand loyalty around a product and company.Since joining Apollo, Daniel has helped fuel their LinkedIn page following from 800 new followers a month to now 6,000 a month! 😳Founders, marketers, and sales leaders will want to listen in as he shares the secrets that have propelled Apollo's evangelic following.Daniel dives DEEP into how they build relationships with customers, how they find their target audience onl...
2023-11-2936 min
20/20 MONEY: The Business of OptometryUnderstanding and setting pricing in your practice that are fair and profitable with Dr. Chris Wolfe, ODWelcome to this episode of 20/20 Money! My guest on today's show is Dr. Chris Wolfe, OD. Chris joins me on the show to share in a conversation about how ODs can think about pricing the different services provided in the practice and how to frame that conversation with your patients, how ODs can think about researching their pricing on medical procedures, how to think about scheduling in your practice to be as efficient with OD hours as possible, 4 questions to consider asking every pt as it relates to dry eye, the 5 steps needed to introduce change in your practice...
2023-06-1252 min
EyeCode MediaWhat Doing Hard Things Can Teach Us About Ourselves w/ Adam CmejlaThis is the first episode of The Chris Wolfe podcast that was recorded in flight! Our special guest is Adam Cmejla. Adam and I both have our pilot's license. Today we talked about what flying taught us about ourselves and our professions. Please enjoy our conversation and check out Adam's Podcast The 20/20 Money Podcast. His podcast aims to bring clarity to financial concepts and strategies that impact optometrists.
Adam Cmejla, CFP® is a CERTIFIED FINANCIAL PLANNERTM Practitioner and Founder of Integrated Planning & Wealth Management, LLC, an independent financial planning & investment management firm focused on working with optometrists to...
2023-05-2218 min
20/20 MONEY: The Business of OptometryPeace of Mind: Aligning business and personal goals (Adam's guest appearance on Eye Own a Business Podcast with Dr. Steve Vargo)Welcome to this episode of 20/20 Money! This week's episode is my guest appearance on IDOC's "Eye Own a Business" podcast hosted by Dr. Steve Vargo. Steve had me on the show to talk about the relationship between business and personal goal planning and how related they are to one another. We talk about the importance of asking "why" before asking "how," why it's important to be specific when visualizing your goals, the importance of being intentional with your time and why practice owners are reluctant to delegate various responsibilities in their personal and professional lives.
2023-02-2047 min
20/20 MONEY: The Business of Optometry5 books I recommend OD practice owners read in 2023Welcome to this episode of 20/20 Money! As we approach the end of the year, I thought it would be appropriate to share with you the 5 books I think all OD practice owners should read in 2023, and why I believe they will have a valuable impact on your business. 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 30min Triage conversation to learn a little bit m...
2022-12-1929 min
Can I Ask You One Question?23. In this Economy, How Should I Be Handling Money? | Adam Cmejla, cfpIn the current economic downturn marked by inflation and concerns over a looming recession, how should practice owners be handing money? Should they be reducing costs? Increasing revenues? Adam thinks one strategy is more financially beneficial than the other. Tune in to find out which one in this interview with Adam Cmejla, Founder & President of Integrated Planning and Wealth Management and host of 20/20 Money Podcast.
2022-07-1209 min
Elementality for Financial Advisors | Elements Financial Vitals System™Why You Shouldn't Fear Specialization With Adam CmejlaTrends show that the planning industry is going to look a lot different in the future. Here's why finding a good niche could be the way to go. On this episode of Elementality, Reese and Adam Cmejla talk about the success Adam has found focusing on a highly-specialized niche market. Find out why specializing increasingly makes sense in our evolving industry.
2022-06-1440 min
20/20 MONEY: The Business of OptometrySetting goals, asking the right questions, common mistakes made by young practice owners, risk management, and defining success: Adam's guest appearance on "Medical Millennial with Dr. Emilie SeitzWelcome to this episode of 20/20 Money! This episode is my guest appearance on Medical Millennial series with Dr. Emilie Seitz. Emilie was kind enough to have me on the channel to talk about a variety of topics that impact younger practitioners and practice owners, but I'll emphasize that the topics are relevant to all practice owners—regardless of experience. In this conversation we talk about when and how to hire an advisor, how to think about setting personal and financial goals, defining success for yourself, mistakes that young practice owners make, and the importance of "betting on yourself" for lo...
2022-03-1451 min
20/20 MONEY: The Business of OptometryThe Power of Planning (Adam's guest appearance on Power Hour Podcast)Welcome to this episode of 20/20 Money! This episode is my guest appearance on the Power Hour Optometry Podcast hosted by Dr. Bethany Fishbein, CEO of Power Hour. Bethany wanted to have me on the show to talk about the various different areas of a practice owner's life that they should be planning for in case of a disaster or emergency, and I enjoyed this conversation and tried to make it as fun as possible for an otherwise scary and not urgent topic. Our conversation starts on the personal side of planning and then we quickly shift over into the...
2022-03-0749 min
20/20 MONEY: The Business of OptometryBuilding a practice, on purpose (Adam's guest appearance on The Power Hour podcast)Welcome to this episode of 20/20 Money! My guest on today's show is…me! On this episode of 20/20 Money, I'm sharing with you the conversation I had with Dr. Bethany Fishbein that was originally recorded and released on the Power Hour Optometry podcast, which is the podcast hosted by The Power Practice. The Power Practice is a consultancy founded by Dr. Gary Gerber in 2003 that helps optometric practice owners achieve their most audacious business goals by creating their own definitions of success and building their practice with intention. We've put links to the Power Hour podcast and several of their re...
2021-12-2045 min
Top Advisor PodcastEp. #2: The Benefits of Narrow Target Markets for Financial Advisors with Adam Cmejla CFP®You’ve undoubtedly heard about the benefits of highly-focused target markets for financial advisors. But perhaps you have reservations and worry that if you go too narrow, you’ll be missing out on valuable opportunities.
If you’ve been considering a specific target market, then perhaps this interview will tip the scales in that direction for you.
In this episode, Referral Coach Bill Cates is joined by Adam Cmejla CFP®, president of Integrated Planning & Wealth Management. Adam discusses his decision to focus on a very specific target market, which has brought him to an extraordinarily high le...
2021-09-1336 min
HUM Curated PodcastsEpisode 21 – Focusing on The Problem, Not The Solution — with Guest Adam Cmejla, CFP® Podcast: Be Advised with Brad Swineheart (LS 25 · TOP 10% what is this?)Episode: Episode 21 – Focusing on The Problem, Not The Solution — with Guest Adam Cmejla, CFP®Pub date: 2021-04-14Get Podcast Transcript →powered by Listen411 - fast audio-to-text and summarizationAre you an advisor with an existing waiting list for new clients? If not, you’ll love this episode as Brad Swineheart and Adam Cmejla discuss tactics on how to achieve just that. Don’t let your action be no action! By defining your niche market, you can pinpoint the types of problems...
2021-04-2935 min
Be Advised - Leading with ValueEpisode 21 – Focusing on The Problem, Not The Solution — with Guest Adam Cmejla, CFP®Are you an advisor with an existing waiting list for new clients? If not, you’ll love this episode as Brad Swineheart and Adam Cmejla discuss tactics on how to achieve just that. Don’t let your action be no action! By defining your niche market, you can pinpoint the types of problems you need to help … Continue reading Episode 21 – Focusing on The Problem, Not The Solution — with Guest Adam Cmejla, CFP® →
2021-04-1435 min
Maximum AdvisorThe Math of Finding a Niche Market with Adam CmejlaJoin host Chip Munn in this episode of the Maximum Advisor podcast as he sits down with Adam Cmejla, founder of Integrated Planning & Wealth Management, to discuss his client waiting list and how he got there. Adam works almost exclusively with optometrists that are within five years of selling their practice to a private equity firm. Talk about a niche!
2021-03-3040 min20/20 MONEY: The Business of OptometryStudent Loan Planning in 2021On this episode of 20/20 Money! My guest on today’s show is Rob Bertman. Rob is one of the resident experts at Student Loan Planner, a business that was founded by Travis Hornsby that has now grown to a number of consultants that have collectively provided more than 5,000 consults on over $1.2B of student loan debt. Rob joins the show today to help optometrists answer one of the most common questions that we get from younger ODs: how should I start thinking about paying back my student loans? In this wide-ranging conversation, Rob shares the basic formula fo...
2021-03-011h 0720/20 MONEY: The Business of OptometryUnderstanding Different Types of Profit Sharing PlansUnderstanding the different types of profit-sharing plans that exist can help an optometrist determine which type of plan is going to be best for their practice. In this episode we talk about the different type of profit-sharing plans that exist and the advantages and disadvantages of each. We also share the different vesting schedules that exist and wrap up with some thoughts on how to use a profit-sharing plan to increase staff loyalty and employee retention in the practice. As a reminder, you can get all the information discussed in today's conversation by visiting our...
2020-09-0736 min20/20 MONEY: The Business of OptometryHow to Pay Less in Taxes the Year You Sell Your Practice with Karl WillmanOptometrists that own their own practice are always looking for strategic ways to reduce their tax liability. The tax bill that's generated when an optometrist sells their practice can have a big impact on how much money they keep as a result of the transaction. Retirement plans like the 401(k) profit sharing plan are usually go-to strategies, but there are limitations in how much one can contribute annually into these plans. Additionally, there's little that can be done with a 401k profit sharing plan to help offset and reduce the tax liability that's generated in the year...
2020-08-311h 0020/20 MONEY: The Business of OptometryA Powerful 401(k) Option You've Probably Never Heard OfUtilizing a retirement plan like a 401(k) profit sharing plan is a great tool to help optometrists save money for retirement. It's also a way for them to reduce taxes in higher earning years and deferring that tax liability until future years. While most optometrists may be familiar with Traditional 401k and profit sharing plans, a little known planning tool that exists is the ability to make after-tax contributions to a 401k plan. This strategy is often referred to as the "mega back-door Roth" strategy. In this episode, we talk about the history, details, benefits...
2020-08-2437 min20/20 MONEY: The Business of OptometryHow to Use Your Website to Drive New Patients to Your Practice with Dr. Rich ZimbalistHaving a website that stands out, drives new patient growth, and creates a great patient experience is a tall order for any optometrist that owns their own practice. Knowing where to begin or what areas of your website and digital marketing strategy to focus your time and dollars is another challenge. Thankfully, there's someone out there that can see the challenge from multiple different perspectives. Dr. Rich Zimbalist, OD is not only a practicing optometrist but also an experienced digital marketing professional who has served many ODs in helping them create an online brand and marketing strategy that not...
2020-08-1755 min20/20 MONEY: The Business of OptometryFive Reasons Why I Don't Like SIMPLE IRAs for Optometry Practice OwnersChoosing a retirement plan for your optometry practice is an important decision and it's one of those processes that can often be put on the back burner by ODs. It's common for us to see mature practices still utilizing a SIMPLE IRA in their practice and, when asked why they still use a SIMPLE IRA, a common answer we hear is "Because it's much cheaper than a 401(k)." This is also advice that we see being shared in online communities as well. In today's episode,, I want to share with you five reasons why the SIMPLE IRA...
2020-08-1043 min20/20 MONEY: The Business of OptometryThree CARES Strategies to RevisitAs optometrists continue to deal with the personal and professional financial implications of COVID-19, the CARES Act has been the focal point for those looking for relief and assistance. The PPP, EIDL, and other provisions of CARES captured our attention for the last couple of months, but, on this episode, we discuss three strategies and provisions of CARES that are still worth evaluating in your personal and professional lives. As a reminder, you can get all the information discussed in today's conversation by visiting our website at www.integratedpwm.com and clicking on the Learning Center. While t...
2020-08-0334 min20/20 MONEY: The Business of OptometryProactive, Mid-Year Tax Planning Strategies to ReviewHello, and welcome to this episode of 20/20 Money! On today's episode, I discuss 7 proactive strategies that you can consider as you evaluate your financials through the latter half of 2020. I discuss the importance of reviewing your list of itemized deductions even if you didn't itemize and whether a charitable lumping strategy would be beneficial to consider. I also talk about why partnerships should reevaluate how income is classified on their K-1 and why shifting income from guaranteed payments to net income should be evaluated by their legal, accounting, and financial team. I also explain why it's important to reevaluate...
2020-07-2733 min20/20 MONEY: The Business of Optometry7 Items to Review on Your Tax ReturnHello, and welcome to this episode of 20/20 Money! On this episode, I highlight seven line items on your tax return that optometrists should review to ensure you're not paying too much in taxes. Those seven items (along with the location of where to find them on your personal tax return) are listed below: Health insurance deduction for SE (Schedule 1, line 16) Taxable interest (1040 Line 2b) QBI deduction for SE (1040 Line 10) SS tax refund (Schedule 3, Line 11) 529 deduction for your state (State tax return) Maxing out your HSA (Schedule 1, Line 12 & Form 8889) Roth conversions being coded incorrectly & correct 8606 filing (1040 Line 4a and 4...
2020-07-2042 min20/20 MONEY: The Business of OptometryHow to Understand Practice Cash Flow to Help Grow Your Net Worth with Nathan HayesOn this episode of 20/20 Money, Nathan Hayes from IDOC and I discuss how optometrists should be thinking about cash flow in their practice. We discuss how much cash reserves ODs should have in their practice in the wake of COVID-19 as well as why it's important to get cash out of your practice instead of letting it sit in your business. Nathan also shares why leaving cash in your business might actually hurt your valuation from a buyer's perspective. We also talk about how to reduce your tax bill as a practice owner and why it's important to not "...
2020-07-111h 1020/20 MONEY: The Business of OptometryProfit First with Dr. Mick Kling, ODHello, and welcome to this episode of 20/20 Money! My guest on today's show is Dr. Mick Kling, OD. Mick has been on the show in the past and he joins me today to talk about a concept that is gaining more traction in the OD community and that is the accounting philosophy known as Profit First. Profit First is based on the popular book by Mike Michalowicz and Mick has unique experience in that he's both adopted this accounting process in his own practices and has also consulted with many other ODs on how to transition their practices to...
2020-07-061h 0620/20 MONEY: The Business of OptometryHow Two ODs ARE CRUSHING Their Student Loan Debt: An Interview with Drs. Zac & Joelle HollandHello, and welcome to this episode of 20/20 Money! My guests on today's show are Drs. Zac and Joelle Holland. Joelle and Zac have been listeners of the show for some time and Joelle reached out to me to ask if I'd be interested in interviewing them about how they have both been laser focused on paying off their student loans. For me, it was an easy decision as creating a student loan repayment strategy is one of the most common challenges and discussion points for newer grads. There's so much amazing information and empowerment that's shared in...
2020-06-291h 2620/20 MONEY: The Business of OptometryGetting a Fair Deal: An Optometrist's Guide to Savvy Real Estate Leases with Colin CarrHello, and welcome to this episode of 20/20 Money! My guest on today's show is Colin Carr. Colin is the founder and CEO of CARR, a nationwide commercial real estate company specifically focused on representing the needs and interest of healthcare providers. Colin has mastered several niches in healthcare real estate and is passionate about helping others maximize their profitability through real estate. In this conversation, Colin and I cover a wide spectrum of topics. Among them, Colin shares what NOT to do when you see vacant space that you're interested in, three main ideas to consider when...
2020-06-221h 1120/20 MONEY: The Business of OptometryHow Rethinking Your Patient Interaction Can Influence Change and Improve Your Practice with Dr. Steve Vargo, ODHello, and welcome to this episode of 20/20 Money! My guest on today's show is Dr. Steve Vargo, OD. Steve has had a storied career in optometry, starting out as a clinician after graduating from ICO in 1998. His interest for business led him to earn his MBA and eventually land at IDOC in the role of a practice management consultant. Having had over 3,000 consultative conversations over the years, he's realized what every OD needs to know: we all have largely the same playing field. The difference, however, is in the execution of ideas and strategies, and it was in his...
2020-06-151h 0720/20 MONEY: The Business of OptometryNavigating a Private Equity Practice Exit (Part 2): A Conversation with Jason PreatorThis is part 2 of my conversation with Jason Preator. Please be sure to check out part 1 from last week! As a reminder, you can get all the information discussed in today's conversation by visiting our website at www.integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 15min pre-discovery conversation to learn a little bit more about what it means to work with our firm or check out any number of additional free resources like our eBooks and on-demand webinars. And with that introduction, I hope you enjoy p...
2020-06-0830 min20/20 MONEY: The Business of OptometryNavigating a Private Equity Practice Exit: A Conversation with Jason PreatorHello, and welcome to this episode of 20/20 Money! My guest on today's show is Jason Preator. Jason is one of the leading resources and advisors in the optometric space when it comes to helping optometry practice owners sell their practice to a private equity firm. Today's conversation was so good and long that I actually made the decision to break it up into a two-part episode. In today's episode, we talk about the duration of the process of selling, making sure you understand your why around selling your practice, two big factors that influence your valuation, why it's important...
2020-06-0158 min20/20 MONEY: The Business of OptometryThe Benefits and Strategy to Adding Dry Eye Tx to Your Practice with Dr. Damon Dierker, ODHello, and welcome to this episode of 20/20 Money! My guest on today's show is Dr. Damon Dierker. Damon already has a very storied career in optometry, so I was excited to have him on today to talk about dry eye and I feel it's important to give a bit of a backstory to help set the stage. Clinically, he is a partner and Director of Optometric Services at Eye Surgeons of Indiana, one of (if not the) top tertiary care/referral center in the state of Indiana. His areas of clinical expertise include advanced retinal disease including...
2020-05-261h 0220/20 MONEY: The Business of OptometryManaging Your Schedule to Profitability with Dr. Gina Wesley, ODHello, and welcome to this episode of 20/20 Money! My guest on today's show is Dr. Gina Wesley. Gina joins the show to discuss various ways in which scheduling has impacted the profitability of her practice. We talk about the direct and indirect benefits of having a scheduling philosophy and why empowering your team is an important component to helping you manage an efficient practice. We also discuss the importance of communicating and setting expectations with patients is important regardless of the type of exam or the journey that they went through (normal exam vs emergency vs walk-in) and examples...
2020-05-181h 0920/20 MONEY: The Business of OptometryThinking about practice valuations in the midst of COVID19 with Matt HowardWelcome to another episode of 20/20 Money. My guest on today's show is Matt Howard. Matt is a CPA and CVA, which is a Certified Valuations Analyst, with Blue and Co here in Indianapolis. I've known Matt for a number of years and have always appreciated and valued his opinion. Today's conversation is a bit unorthodox as there really wasn't a whole lot of planning behind the content. What started out as a simple question on the phone between two friends and colleagues turned into I feel a very timely episode: how should buyers and sellers of practices be thinking...
2020-05-1141 min20/20 MONEY: The Business of OptometryThe How and Why of Having an Accountability Partner as an Optometrist with Drs. Jennifer Stewart and Jeremy CianoHello, and welcome to this episode of 20/20 Money! My guests on today's show are Drs. Jeremy Ciano and Jennifer Stewart. Longtime listeners of the show will recognize those names as I've had them both on a number of times in both 1-1 interviews as well as a three-way discussion. I respect both of their opinions and perspective as they both run highly successful practices, and that success does not come by accident. Jennifer and Jeremy join me in today's conversation to discuss accountability as a business owner. As practice owners, it can be sometimes be hard to...
2020-05-0446 min20/20 MONEY: The Business of OptometryPursuing a Better Investment Experience During Volatile Markets with Dave GoetschHello, and welcome to this episode of 20/20 Money! My guest on today's show is Dave Goetsch. Dave is the Executive Producer and writer for the hit TV show "The Big Bang Theory" and he joins me to talk about his journey not as a TV writer but as an investor. He shares his journey as an investor, lessons he's learned along the way (one of them almost being a really expensive lesson), the investment philosophy he's implemented and how he's been able to go from feeling anxious and nervous to calm and resilient as an investor. We...
2020-04-2751 min20/20 MONEY: The Business of OptometryPPP Update & Emergency CARES Act StrategyOn today's episode, I start out with an update on the Paycheck Protection Program and what we've learned through the first round of applications as well as an update (as of now) as to what the next round of stimulus funding might look like and when that might come to fruition. I then share details on another aspect of the CARES Act that hasn't been as talked about but can still be an important planning consideration and that's the Employee Retention Credit. I share the details on how the ERC works and an example of a practice where the...
2020-04-2046 min20/20 MONEY: The Business of OptometryNavigating and Planning for the Optometry Job Market Post-COVID-19 with Dr. Matt Geller, ODHello, and welcome to this episode of 20/20 Money! My guest on today's show is Dr. Matt Geller. Matt joins me back on the show today to talk about a variety of topics as it relates to staffing an office in the wake of the COVID-19. We talk about areas that practice owners should be focusing on now as well as some of the top items (personally and professionally, financially and otherwise) that ODs should be maximizing in this time of uncertainty. We emphasize the importance of cash, what someone looking for an associate position should do to stand out...
2020-04-1356 min20/20 MONEY: The Business of OptometryThe CARES Act & Optometry: A Replay of my Facebook Live Q&A SessionHello, and welcome to this episode of 20/20 Money! Today's show is a unique one in many ways, starting out with a longer-than-normal introduction. This episode is actually a replay of the 75 minute Q&A session I did with the ODs on Finance Facebook group on all things related to the CARES Act and how it impacts optometrists. It's important to understand that, at the time of the live Q&A session, both the IRS and Small Business Administration (SBA) had not yet released additional guidance on aspects of the CARES Act. By far the most popular topic...
2020-04-061h 1820/20 MONEY: The Business of OptometryTelehealth, Fear Setting, and Pivoting: How ODs Can Reframe and Refocus ThroughCOVID 19 with Dr. Justin Manning, MPH, OD, FAAOHey there 20/20 Community. Welcome to this episode of 20/20 Money! My guest on today's show is Dr. Justin Manning. I know ODs around the country are going through a lot right now as we all grapple with the disruption caused by COVID-19. I wanted to have Justin back on the show because I thought he'd bring a unique perspective to the show, as he's the only OD I know that also has their MPH (Masters Degree in Public Health). During our conversation we talk about various examples and ways in which we've both witnessed ODs making the best...
2020-03-3049 min20/20 MONEY: The Business of OptometryCrisis Management Tips During COVID-19 ClosuresWelcome to this episode of 20/20 Money! Every practice owner around the country is trying to figure out which way gravity is working right now and figuring out how to make unprecedented decisions in their practice as it pertains to their cash flow and their team management. With that being the case, we wanted to provide some thoughts and ideas that practice owners can take during these time to better prepare themselves and their practices for the foreseeable future. In this episode we talk about the importance of being proactive in a number of different areas in your...
2020-03-2338 min20/20 MONEY: The Business of OptometryIncreasing Annual Supply Contact Lens Sales (and Profitability) In Your Practice with Ryan Gustus, ODWelcome back 20/20 Money Community to another episode. Well, unconventional times call for unconventional strategies. Some of you may have financial-related questions about what's going on right now in the markets. Whether you're a new investor and this is your first "taste" of volatility or you're a seasoned investor on the brink of or in retirement, it's times like these that questions, concerns, or doubt can creep into our psyche and mindset. I wanted to let you know that we're going to be hosting a "town hall" type meeting/webinar on Wed, March 18th at 8pm EST to talk through...
2020-03-161h 0220/20 MONEY: The Business of OptometryWhat to do During Market SelloffsOn this episode of 20/20 Money, I deviate a bit from the traditional topics of the show and talk about what investors should be thinking about and doing during market selloffs like we experienced last week. I actually bumped a previous episode to make room for this conversation just given the nature and timeliness of the events that occurred in the markets last week. I talk about the importance of having an investment philosophy, what you should be looking at with regards to your investment plan and timeline, the importance of understanding the amount of risk that you're taking in...
2020-03-0950 min20/20 MONEY: The Business of OptometryHow to Think About Vision Plans and Profitability in Your Practice with Drs. Jennifer Stewart & Jeremy CianoHello, and welcome to this episode of 20/20 Money! My guests on today's show are Drs. Jennifer Stewart and Jeremy Ciano. Longtime listeners will know that both of them have been on the show a number of different times. Their business knowledge and practice insight has helped them each build and run very successful private practices. On today's show, we discuss one of the biggest decisions and factors that influence the gross revenue and thus profitability of an optometry practice: vision plans. Jeremy and Jennifer discuss their viewpoint on vision plans, the purpose with how they...
2020-03-0249 min20/20 MONEY: The Business of OptometryHow Much Should You Pay Yourself?As the owner of a private practice, a question that you will inevitably ask yourself is "How much should I pay myself as the owner of my practice?" There are a number of different ideas and considerations to think about with regards to this question and in this show I talk through some of the different decision points that exist for a practice owner to consider which can influence how much they pay themselves. Profit First The Profitable Doctor My sessions at Vision Expo East (March 26-29 in NYC) A...
2020-02-2438 min20/20 MONEY: The Business of OptometryThree Ratios ODs Should Know From Their Balance SheetIn this episode of 20/20 Money, I talk about three important ratios that optometrists should understand using their balance sheet. There are three big financial statements that practices should always be analyzing, and I feel that the balance sheet is the one that gets the least love from ODs. During the conversation, I talk about how to calculate your quick ratio, your current ratio, and your debt service to outstanding debt ratio and what range each of those should be within your practice. ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Play Stitcher —...
2020-02-1718 min20/20 MONEY: The Business of OptometryBeing an Optometrist and Working as a Medical Science Liaison with Nysha Blender, ODHello, and welcome to this episode of 20/20 Money! My guest on today's show is Dr. Nysha Blender. Nysha joins me on the show to talk about her journey in optometry and how she ended up in a somewhat unconventional role as a medical science liaison with Ocular Therapeutix. On this show we talk briefly about her path in optometry and what caused her to go down this path of becoming an MSL and what it's meant to her personally, professionally, and clinically. She gives us an idea of "a day in the life of" and what has surprised her...
2020-02-1058 min20/20 MONEY: The Business of OptometryWhat Every Optometrist Should Know About Life InsuranceLife insurance for optometrists is something that probably isn't the topic of conversation when ODs get together and chat, but it's an important part of a well-rounded financial plan. Unfortunately, there are many different options for life insurance and they're not all created equal, especially when you take into consideration the conflicts of interest that exist between you the client and the person selling you a policy. On this episode I share with you the basics of the different kinds of life insurance and which type of life insurance I believe is going to be satisfactory for...
2020-02-0334 min20/20 MONEY: The Business of OptometryFinancing Considerations when Buying or Selling a Practice with Dan ZoneHello, and welcome to this episode of 20/20 Money! My guest on today's show is Dan Zone. Dan's a VP and Senior Relationship Manager with Wells Fargo Commercial banking here in Indianapolis and is back for a second time on 20/20 money. What's unique about Dan, though, is that he has a big focus on serving those in "white coat professions" including optometrists and I wanted to have him on today to talk specifically about financing the sale of a practice from both points of view: the seller and the buyer. We start out our conversation by talking about...
2020-01-2737 min20/20 MONEY: The Business of OptometrySelling Your Practice as a Vision Source Partner Office with Dr. Mick Kling, ODHello, and welcome to this episode of 20/20 Money! My guest on today's show is Dr. Mick Kling, OD. Mick wears many different hats in the optometry community and spends a good deal of his time talking and consulting with other ODs around the country. In addition to owning Invision Optometry in San Diego, he is also the founder of Impact Leadership, an organization that helps ODs understand their practice's finances and how to use that information to run a more profitable practice, albeit through maybe a bit more of an "unconventional" approach compared to how y...
2020-01-201h 0620/20 MONEY: The Business of OptometryHow to Distribute Cash Flow Out of Your PracticeAs the owner of an optometry practice, one of the benefits is being able to participate in not only the normal "earnings" that any other OD would make, but also the rewards of owning the practice in the form of profits. In this episode, we'll talk through the different ways in which ODs can pay themselves out of their practice, which starts by understanding how your practice files its taxes. From there, we'll discuss the type, timing, and frequency of how you can pay yourself out of your practice to satisfy both the practice's and your own financial goals.
2020-01-1327 min20/20 MONEY: The Business of Optometry5 Financial Steps Optometrists Should Take in the Beginning of the YearIt's the start of a new year—the year of optometry!! Let's start out 2020 by talking about 5 financial topics that optometrists should be reviewing both in their personal and professional lives. We start out by talking about funding your Roth IRAs (especially if you're making those contributions via back-door Roth IRA conversions), HSAs, and 529s and also remind you to adjust your annual contribution savings amounts into your 401k or SIMPLE IRAs. From there, I talk about the importance of making sure that your chart of accounts is accurate, which will give you an accurate profit/loss st...
2020-01-0639 min20/20 MONEY: The Business of OptometryPersonal Budgeting Tips and Tools for Optometrists and Private Practice OwnersHello, and welcome to the last episode in 2019 of 20/20 Money! In this final episode of the year, I spend time talking about how important it is to take time to measure where your money is going in your personal life and how the only way to really get a good picture of that is by analyzing your spending by running a personal budget. I talk about the different kinds of expenses to track and a number of tools that you can use to help you kick-start the process of analyzing your spending. I then discuss h...
2019-12-3033 min20/20 MONEY: The Business of OptometryMy Top 10 Books Optometrists Should Read in 2020 to Build a Life They LoveHello, and welcome to this episode of 20/20 Money! On this episode I discuss my top 10 books that I believe ODs should read in 2020 to help them get closer to building the practice of their dreams and a life they love. The books are both personal and professional in nature (along with one investment-related book). Links to all the books can be found below in the show notes or at www.integratedpwm.com/59. While there, you can also set up a 15min pre-discovery conversation to learn a little bit more about what it means to work with our firm or...
2019-12-2340 min20/20 MONEY: The Business of OptometryIncreasing Profitability Through Staffing Flexibility with Dr. Gina Wesley, ODHello, and welcome to this episode of 20/20 Money! My guest on today's show is Dr. Gina Wesley. Dr. Wesley owns and practices at Complete Eye Care in Medina, MN and she's been recognized as Minnesota's Young Optometrist of the Year in 2011 and has also earned the Early Professional Achievement Award from The Ohio State University College of Optometry in 2013. She joins the show today to talk about something that almost every practice owner I've talked to struggles with at some point in their career: staff management. In this conversation, Gina and I talk specifically about a...
2019-12-161h 0020/20 MONEY: The Business of OptometryYear-End Tax and Financial Planning StrategiesHello, and welcome to this episode of 20/20 Money! As we close in on the end of the year, it's time to begin thinking proactively around different strategies you can still consider before the calendar rolls over to 2020. In today's show I'll discuss what you can and cannot do in your practice to control net pass-through income and thus reduce your tax bill. I'll also revisit the 199A deduction (QBI) and profit sharing contributions into your practice's retirement plan. On the personal side, I'll share a number of ideas to consider before year-end and how decisions you make in the...
2019-12-0940 min20/20 MONEY: The Business of OptometryStarting a Practice Cold While a 4th Year: The Success Story of Dr. Hannah ChoHello, and welcome to this episode of 20/20 Money! My guest on today's show is Dr. Hannah Cho, OD. Hannah joins the show today to talk about the journey she's had in private practice, going all the way back to when she started the practice cold while still a 4th year optometry student (and also shortly after having her first child). She talks about why establishing culture very early on in your practice is one of the key factors in delivering a WOW! patient experience and why that begins at the hiring level. She also shares the different...
2019-12-021h 0320/20 MONEY: The Business of OptometryContemplating a Private Equity Funded Exit: The Story of Dr. Ken Krivacic, ODHello, and welcome to this episode of 20/20 Money! My guest on today's show is Dr. Ken Krivacic. I believe my conversation with Ken will resonate with a number of listeners because Ken found himself on both sides of the private equity equation: first publicly opposed to it (even going so far as to author a number of articles written for Review of Optometric Business on why he WASN'T going to sell but then ultimately agreeing to sell his practice to a private equity firm. During this conversation, we discuss why he didn't decide to sell to his...
2019-11-251h 0620/20 MONEY: The Business of OptometryControlling Your Income: The Importance of Fee Schedules on ProfitabilityHello, and welcome to this episode of 20/20 Money! My guest on today's show is Dr. Jeremy Ciano, owner of RevolutionEyes in Carmel, IN. Jeremy has been on the show in the past and today's conversation was actually sparked by a question from one of our listeners and a prospective client of our firm, which was analyzing their fee schedule in their practice to determine if their profitability ratios are where they should be. During this conversation, Jeremy shares so many good ideas and strategies to consider. He talks about how he thinks about the retail price of...
2019-11-1855 min20/20 MONEY: The Business of OptometryHealth Insurance Options for OptometristsIt's that time of year again: open enrollment. While everyone is thinking about the holiday season that is right around the corner, small business owners and those individuals that aren't eligible to participate in group health insurance plans also find themselves in their own version of "open enrollment season"—the window of time where we can change the type of coverage that we have, who we have that coverage with, and what our costs for next year will be. In this episode, I share an update on our own personal journey through the health insurance sys...
2019-11-1237 min20/20 MONEY: The Business of OptometryTop 10 (Financial) Tips for Optometrists: On location at Univ. of Houston College of Optometry Hello, and welcome to this episode of 20/20 Money! Today's show takes on a bit of an unorthodox format as it's actually the audio from a recent presentation that I gave at the University of Houston-College of Optometry. If you'd like to watch the video version of the presentation, head over to our website at www.integratedpwm.com and click on the Learning Center where you'll not only find the video in a separate post but you'll also find a variety of other resources to help ODs make smart and informed personal and professional financial decisions. The link t...
2019-11-0456 min20/20 MONEY: The Business of OptometryUpdates, Clarifications and Anchoring BiasHello, and welcome to this episode of 20/20 Money! In today's episode, I spend the first part clarifying and expounding upon two previous shows and topics that we've discussed and then finish it up by talking about a relevant topic that has come up both in my personal life as well as with a number of clients over the past couple of weeks. The first part dives into a few more clarifying points about disability insurance that was shared with me by a listener of the show and the second topic provides some clarification around the n...
2019-10-2832 min20/20 MONEY: The Business of OptometryCelebrating Episode #50 of 20/20 Money with Dr. Andrea Cmejla, ODHello, and welcome to this episode of 20/20 Money! My guest on today's show is none other than my wife Dr. Andrea Cmejla. As I celebrate 50 episodes of 20/20 Money, I thought this would be a great opportunity to have Andrea on the show to talk about her journey in optometry thus far and some of the lessons and knowledge she's learned through her multiple modalities of practice. We talk about her first position as an associate out of school and spend a good part of our conversation talking about ways in which she and her team at LASIK Plus grew...
2019-10-2158 min20/20 MONEY: The Business of OptometryA New Mindset for Patient Engagement & Leadership with Dr. Justin Manning, OD, FAAO, MPH: Part 2Hello, and welcome to this episode of 20/20 Money! This is part 2 of my conversation with Dr. Justin Manning. In this continued conversation from VEW in Las Vegas, we discuss the importance that ODs play in patients' lives (which is no surprise to ODs), but more importantly the role that ODs can play in the greater issue of population health, and we still do this through the lens of being a great leader and having a great practice culture. We talk about how to reframe tx plans through the filter of the benefits to the patient in real time instead...
2019-10-1538 min20/20 MONEY: The Business of OptometryA New Mindset and Framework for Patient Engagement & Leadership with Justin ManningHello, and welcome to this episode of 20/20 Money! This is an extra-special episode of the show, because it's being released exactly one year to the day from when the show was started. Back then, the show was called "The Dose" so if you haven't checked out some of those earlier episodes, be sure to scroll through the show archives and check out our earlier episodes. My guest on today's show is Dr. Justin Manning. Justin is an optometrist based in Colorado and is focused on helping other ODs scale and grow their practice through a d...
2019-10-0748 min20/20 MONEY: The Business of OptometryThree Taxes to be Aware of When You Sell Your PracticeOn this episode of 20/20 Money, I keep the theme going of "Selling in September" and talk about three of the biggest taxes to be aware of when you sell your practice and how those taxes will impact the net proceeds that you will walk away from after the sale of your practice. I also discuss the ongoing investment-related taxes that you need to be aware of as well and which investment vehicles are usually more tax efficient for a non-retirement brokerage account, which is typically the type of account that an OD will use for the net proceeds from...
2019-09-3037 min20/20 MONEY: The Business of OptometryFrom Beginning to End: The Timeline of Selling Your Practice with Erik Ferjentsik (Part 2) Hello, and welcome to this episode of 20/20 Money! My guest on today's show is Erik Ferjentsik, and this is actually Part 2 of my conversation with Erik. You can check out Part 1 by listening to last week's episode. Erik is the founder and principal of Visionary Practice Group, a firm that works with optometrists to broker, consult, and appraise their practice for transitions. In part 2, I pick up the conversation with Erik where we started talking about the difference between an asset and a stock sale and how to think about goodwill in your practice. We a...
2019-09-2341 min20/20 MONEY: The Business of OptometryFrom Beginning to End: The Timeline of Selling Your Practice with Erik Ferjentsik (Part I) Hello, and welcome to this episode of 20/20 Money! My guest on today's show is Erik Ferjentsik. Erik is the founder and principal of Visionary Practice Group, a firm that works with optometrists to broker, consult, and appraise their practice for transitions. I've known Erik for a number of years and it was great to have him on the show. We have a common bond in that we're both married to ODs so we both look at the profession of optometry through a different set of lenses, so I was excited to dive into the conversation, a...
2019-09-1651 min20/20 MONEY: The Business of OptometryExit Stage Left: Prepping for the Exit from Your Practice with JT Metzger Hello, and welcome to this episode of 20/20 Money! As a quick reminder, if you're going to be attending Vision West in Las Vegas in a couple of weeks and have a topic you'd like to discuss, I still have one more opening in my schedule to record an episode in person. If you're interested, be sure to email me at podcast@integratedpwm.com to share your topic. My guest on today's show is JT Metzger. JT has a storied and tenured career of working to help businesses evaluate, strategize, implement, and measure changes i...
2019-09-0952 min
Financial Advisor SuccessEp 140: Transforming Your Advisory Business By Shifting Your Mindset After Hitting The (10-Year) Capacity Wall with Adam CmejlaAdam Cmejla is the founder of Integrated Planning and Wealth Management, an independent RIA that oversees approximately $45 million in assets under advisement for nearly 100 clients. Over the past two years, Adam's practice has undergone an incredible transformation, increasing their financial planning fees and growing revenue by nearly 80%. In this episode, Adam shares how his marketing process has evolved, as well as what made him decide to narrow down his focus and serve only optometrists. Listen in to discover how a shift in his mindset has helped his firm to grow phenomenally—while also allowing him to spend mo...
2019-09-031h 5520/20 MONEY: The Business of OptometryAdding an Associate: Understanding Marginal Chair Cost to Leverage Your PracticeHello, and welcome to episode 48 of 20/20 Money! Even though this episode is coming out on the first Monday in September, it is Labor Day and therefore I'm pushing back the "Selling in September" theme until next week, when the next four episodes will be dedicated to topics relating to selling one's practice. My guest on today's show is Dr. Matt Mitchell. Matt has been on the show in the past and I wanted to have him back to talk about a problem that I hear a lot of ODs trying to solve, and that's the predicament of...
2019-09-021h 1020/20 MONEY: The Business of OptometryThe ABC's and 123's of Disability Insurance for ODsOn this episode of 20/20 Money, it's all about the ABC's and 123's of disability insurance for optometrists. We'll discuss what disability insurance is, the different kinds of disability insurance an OD can get, how much of a benefit you can get, and what riders you should make sure are on your policy (including the most important rider of all). I'll also share with you some of the carriers that we've seen write good policies for optometrists and talk you through the underwriting process and how to find a good agent to help you shop for a policy. We wrap...
2019-08-2643 min20/20 MONEY: The Business of OptometryShould You Upgrade Your Retirement Plan From a SIMPLE IRA to a 401(k)?Welcome to this episode of 20/20 Money! Today's show is all about retirement plans and specifically whether (and when) an optometrist might consider switching from a SIMPLE IRA to a 401(k). During the show I first start by laying the foundation and going over the basics of how 401(k)'s and SIMPLE IRAs work, specifically as it relates to some of their small but significant differences. I share the differences in matching formulas as well as the total contribution limits that apply to both of them. I then talk about when in the timeline of one's...
2019-08-1957 min20/20 MONEY: The Business of OptometryGetting Down with Dailies: The How and Why of Increasing Daily CL Rx in Your PracticeWelcome everybody! Welcome to the 40th episode of 20/20 Money. My guest on today's show is Dr. Jennifer Stewart. Jennifer is an optometrist and partner at Norwalk Eye Care and Performance 2020 and this is actually the second time that she's been on our show. I wanted to have Jennifer back on the show to talk about dailies and the role they have played in her career both clinically as well as how educating and encouraging pt adoption of a daily disposable lens have helped the profitability in her practice. During our conversation, Jennifer talks about why pts are more compliant...
2019-08-121h 0320/20 MONEY: The Business of Optometry1031's and DST's: Tax and Investment Considerations When Selling Commercial Real EstateHello, and welcome to this episode of 20/20 Money! My guest on today's show is Nina O'Neal. Nina is a partner and investment advisor with Archer Investment Management in Raleigh, NC. What's interesting and unique about Nina, though, is her breadth and depth of experience in the world of real estate investments, specifically as it pertains to strategies and solutions for the gains and proceeds that are realized when business owners sell commercial real estate they owned either as part of their business or other separate entity. During our conversation, we talk about the tax implications o...
2019-08-051h 0820/20 MONEY: The Business of OptometryUnderstanding Market Declines and Financial PornographyHello, and welcome to this episode of 20/20 Money! My guest on today's show is Jeff Smith. Jeff is a long time friend of mine and works as what is known in the investment world as a "wholesaler," which means that it's his responsibility to communicate primarily to other investment professionals that work with clients what his company is doing to understand the markets. This is a unique episode, though, as we record it "on location"…not from an investment conference or stock exchange, but from the world's largest general aviation fly-in in Oshkosh, WI. We bo...
2019-07-2950 min20/20 MONEY: The Business of OptometryBuying and Growing a Successful Rural Optometry Practice: The Story of Dr. Matt Mitchell, OD Welcome back to another episode of 20/20 Money. My guest on today's show is Dr. Matt Mitchell. Dr. Mitchell owns Bluffton Family Eye Care, a private practice located in…you guessed it…Bluffton, IN. What's unique about Matt, though, is that his practice is located in what many would consider to be a "rural" practice setting, as the population of his entire county is less than 30,000 people and is dominated by agribusiness. In this conversation, Matt starts out by talking about the current make-up of his practice, including their schedule, number of providers, and total...
2019-07-221h 0620/20 MONEY: The Business of OptometryPrioritizing Your Long-Term Savings VehiclesWelcome to this episode of 20/20 Money! In today's episode I talk about the different retirement savings vehicles that ODs should consider given the mode of their practice and the "ladder" in which they should order their savings strategy. I begin with the versatility of the HSA and why it's good to think about the HSA as not an account that exists for day-to-day healthcare expenses but more of a long-term savings vehicle. I also talk about the importance of retirement plans in the practice, the Roth IRA (including backdoor Roth IRA conversions), and what percentage of income I'd suggest...
2019-07-1537 min20/20 MONEY: The Business of OptometryThe Path to Multidisciplinary Success—The Story of Dr. Jennifer Stewart, ODHello, and welcome to this episode of 20/20 Money! My guest on today's show is Dr. Jennifer Stewart. Jennifer is a partner at Norwalk Eye Care, a private practice in Norwalk, CT. The reason that I wanted to have Jennifer on the show is because of her insatiable quest for knowledge on how to run an incredibly efficient and profitable practice by becoming a student of the numbers within the practice. She's also dedicated part of her professional life to the growing specialty of sports vision training, having launched a second business that's actually located on the second...
2019-07-081h 0320/20 MONEY: The Business of OptometryWhy Don't Young ODs Want to Buy Practices??Hello, and welcome to this episode of 20/20 Money! My guest on today's show is Nathan Hayes. Nathan is the Practice Finance Consultant at IDOC and has worked with countless practices to help them understand not only the financials of their practice but how to make strategic business decisions based on the financial health of the practice. Our conversation was centralized around an Optometric Management Tip of the Week Article titled "3 Misconceptions About Buying Optometry Practices." I wanted to ask Nathan, based on his experience and conversations he's been having, why he feels this is happening and...
2019-07-0158 min20/20 MONEY: The Business of OptometryMaking the Most Out of Optometry Conferences Today's show talks about how you can make the most out of your time when attending optometry conferences. As clinicians, your ability to produce revenue is directly to your ability to see patients, so it's important to get a great RoT (return on time) at your conferences because the cost of the conference is not just the expenses of the conference but also the opportunity cost of what you otherwise COULD be earning in your practice had you not taken the time to attend the conference. I walk you through the life cycle of the conf...
2019-06-2434 min
Try Not To BlinkEye Owe with Adam CmejlaCertified financial planner Adam Cmejla joins the podcast to talk through tackling student loan debt and more.SOURCES New Optometry Grad: https://newgradoptometry.com/freedom-student-loan-debt/General Survey: https://go.newgradoptometry.com/2017-optometry-students-and-optometrists-survey AOA Article: http://www.aoa.org/news/inside-optometry/carving-a-career-track-with-student-loan-debtManaging financing with Covalent Careers: https://covalentcareers.com/resources/managing-finances-optometry-student-loans/?__hstc=131338000.835d481d157861f105361244a7961411.1554268894514.1554268894514.1554268894514.1&__hssc=131338000.4.1554268894515&__hsfp=1112152704 Finance Basics: https://covalentcareers.com/resources/personal-finance-basics-optometrists-optometry-students/?__hstc=131338000.835d481d157861f105361244a7961411.1554268894514.1554268894514.1554268894514.1&__hssc=131338000.4.1554268894515&__hsfp=1112152704Loan Forgiveness Ending? https://www.forbes.com/sites/zackfriedman/2017/12/06/house-bill-student-loan-forgiveness/#48301c479906 Adam Cmejla - Integrated Planning & Wealth m...
2019-04-151h 0020/20 MONEY: The Business of OptometryEverything you needed to know about financing your practice with Dan Zone - VP/Senior Relationship Manager, Wells FargoIn this episode of The Dose Adam talks with Dan Zone from Wells Fargo about the many aspects of financing that medical professionals will experience throughout their career. What's truly unique about Dan is that he almost entirely focused on these white coat professionals. Dan's experience has allowed him to see many different financing arrangements and the unique lending circumstances that can exist in this world that do not necessarily exist for other professions. During our conversation we cover many topics including: Financing a startup versus acquiring a practice and the requirements for those transactions Purchasing an actual...
2018-11-0540 min
20/20 MONEY: The Business of OptometryWelcome to The Dose!Welcome to the first episode of The Dose! With this being the first episode, you'll find that this one is pretty concise. My intention with this show is to share with you the following: topics we'll cover format of the show why we'll be going "an inch wide and a mile deep" on how we cover the topics brief background on myself and my intention and motivation behind doing the show I have a number of other episodes already "queued up" so be sure to subscribe to get the latest show when it releases! Our g...
2018-10-0716 min