
20/20 MONEY
20/20 MONEY, hosted by Certified Financial Planner and experienced Wealth Adviser Adam Cmejla, aims to bring clarity to financial concepts and strategies that impact optometrists.
For more information on the show and on Adam, please visit https://www.integratedpwm.com/
Latest episodes

Aug 15, 2022 • 58min
Simple Numbers, Straight Talk, Big Profits with Greg Crabtree
Welcome to this episode of 20/20 Money! My guest on today’s show is Greg Crabtree, CPA. Greg is the author of two of my favorite books about running a business and using the numbers of your business to make informed decisions (Simple Numbers, Straight Talk, Big Profits and Simple Numbers 2.0: Rules for Smart Scaling). He’s also the Partner in Charge in the Huntsville, AL office of Carr, Riggs, and Ingram and I was excited to chat with him about the concepts he talks about in his book. We talk about cash reserves in your business, the 4 forces on cash flow and the importance of starting with profitability, the lies that business owners tell themselves through their financials, why meal periods are important to him, and why the rolling 12 month financial report is so much more important than YTD. 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 OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions to help them live their best life on purpose or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. And with that introduction, I hope you enjoy my conversation with Greg Crabtree. Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Aug 8, 2022 • 1h 7min
A deep dive into practice transitions with Dr. Mick Kling, OD (Part 2)
Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Mick Kling, OD. Last week was part 1 of our two-part conversation on all things related to practice transitions. We talk about practice transitions from both the buyer’s and seller’s perspective and talk about the entire life cycle of the process. Today’s episode is Part 2, and we continue the conversation by first diving deeper into the banking and financing aspects and best practices of practice transitions. We then talk about submitting your offer, binding vs non-binding terms in an LOI, why valuations are largely unimportant and dare I say useless, how the ownership of the building can play into the deal, and the confirmatory due diligence process and closing, including some thoughts on credentialing and its impact on the transition. 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. And with that introduction, I hope you enjoy my conversation with Dr. Mick Kling. Resources: https://integratedpwm.com/196 Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Aug 1, 2022 • 55min
A deep dive into practice transitions with Dr. Mick Kling, OD (Part 1)
Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Mick Kling, OD. In this two-part conversation with Mick, he and I have a deep and well-rounded discussion on all things related to practice transitions. We talk about practice transitions from both the buyer’s and seller’s perspective and talk about the entire life cycle of the process. Today’s episode is Part 1, and we cover information related to the beginning stages of buying a practice. We talk about the qualitative and quantitative characteristics of a buyer, how to find practices for sale, and we explore the due diligence process in detail. 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. And with that introduction, I hope you enjoy my conversation with Dr. Mick Kling. Resources: https://integratedpwm.com/195 Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Jul 25, 2022 • 41min
A wrap-up conversation about the benefits of going out-of-network with vision plans with Steve Alexander
Welcome to this episode of 20/20 Money! My guest on today’s show is Steve Alexander. I wanted to have Steve back on the show to “bookend” the mini-series we did around the subject of vision care plans and their role in your practice’s profitability. In this conversation, we discuss some of the highlights and takeaways we both had based off last week’s episode with Dr. Kyle King. If this is your first time checking out 20/20 Money, thanks so much for being here!! This usually isn’t the case, but today’s episode will have a lot more context if you have listened to the previous two weeks’ episodes, so I really encourage you to go back and listen to those first before listening to this conversation. 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. And with that introduction, I hope you enjoy my conversation with Steve Alexander and this mini-series on going out of network with vision care plans! Resources: https://integratedpwm.com/194 Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Jul 18, 2022 • 49min
How one practice owner eliminated vision plans from their practice (and increased profitability) with Dr. Kyle King
Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Kyle King. Kyle is a partner at Evansville Eyecare Associates in Evansville, IN and is a 2011 grad of IU School of Optometry (I know this because he graduated with my wife). Kyle joins the show today to talk about a journey and transition that I feel a lot of practice owners have thoughts about in the past, and that was his and his partner’s decision to become out-of-network for all vision plans and effectively be a fee-for-service practice. Kyle talks about the tipping point that essentially forced the practice to make this decision, the patient communication strategy that they implemented to ensure that patients weren’t surprised about the change, a few lessons learned, as well as the various benefits they’ve seen after having made the switch. 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. And with that introduction, I hope you enjoy my conversation with Kyle King. Resources: https://integratedpwm.com/193 Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Jul 11, 2022 • 1h 4min
Evaluating the role of vision plans in your practice with Steve Alexander from Anagram
Welcome to this episode of 20/20 Money! My guest on today’s show is Steve Alexander from Anagram. Steve joins me on the show today to talk about a topic that is getting an increasing amount of attention in the private practice landscape: the role that VCPs play in a private practice and how the landscape is shifting in the way that practice owners evaluate the partners they have in their practice, and how that impacts their top and bottom lines. We touch on a variety of topics that cover everything from how to prepare your practice for this type of pivot to how you can use this change to proactively market to the public, how to think about your patient acquisition cost, the pricing of your materials, and some scripting and “reframing” you can do in the communication with your patients. 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. And with that introduction, I hope you enjoy my conversation with Steve Alexander. Resources: https://integratedpwm.com/192 Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Jul 4, 2022 • 36min
5 areas to review in your practice that can impact profitability
Welcome to this episode of 20/20 Money! On today’s show I recap some of the ideas and thoughts I shared during the recent town hall event I did with The Power Practice. I talk about ways to attract and retain your team members, specific areas to drill down on your profit/loss statement, why you need to revisit the debt in your practice, what can happen to multiples of practices in a rising rate environment, and why you need to be more observant of how much and the cost of cash in your life 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 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. Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Jun 27, 2022 • 39min
The savings vehicle heirarchy for optometrists and practice owners
There are so many options an optometrist can consider when thinking about the prioritization of savings vehicles for both short term and long term needs. In today’s show, we walk up the savings ladder through the lens of tax efficiency. 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. Why the backdoor Roth IRA matters for optometrists Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Jun 20, 2022 • 59min
Distilling down the complexity of investing to simple execution in today's choppy markets with Peter Lazaroff, CFA, CFP®
Welcome to this episode of 20/20 Money! My guest on today’s show is Peter Lazaroff (LinkedIn Profile). Peter is a Chartered Financial Analyst, firm owner, author, speaker, podcast host, and chief investment officer of Plancorp, LLC, a fee-only Registered Investment Advisor in St. Louis overseeing over $6 billion of assets for clients around the country. Peter joins me on the show to talk about a variety of topics around investing that apply to an optometric practice owner. We dive into which investors are really moving the markets, the importance of diversification as a practice owner, how to take an evidentiary approach to investing, and we touch on the hot topic of inflation in today’s current market and how to think about it in relation to your portfolio. 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. And with that introduction, I hope you enjoy my conversation with Peter Lazaroff. Resources: The Long Term Podcast Get a copy of Peter’s free book!! How Peter Invests His Money Four levers podcast Rethinking your approach to investment allocation as a practice owner (Barbell approach) Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

Jun 13, 2022 • 36min
Thinking through and analyzing contact lens profitability in an optometric practice with Dr. Ryan Gustus
Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Ryan Gustus. Ryan is a partner at Eyecare Associates of Bluffton and Roanoke and also co-founder of Lensquote and their newest tool called Profit Assist. Ryan joins the show today to talk about something that every practice owner should be focused on in their practice and that’s the pricing of their contact lenses. We talk about how to think about your pricing model, how you evaluate profitability, strategies for pricing CLs in your practice, and some of the fallacies that surround pricing models in optometric practices. 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. And with that introduction, I hope you enjoy my conversation with Dr. Ryan Gustus. Follow us on Instagram: https://www.instagram.com/2020moneypod/ ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!