20/20 MONEY

Welcome to this episode of 20/20 Money! My guest on today’s show is Nathan Hayes with IDOC.   In this conversation Nathan and I talk through the qualitative and quantitative metrics and mindsets to consider when identifying whether and when your practice is ready to add an associate. We talk about the importance of beginning with the end in mind, the steps to consider when adding an associate, how the math works in which you’ll make more money working less in the practice, and how practices can end up making LESS money as they get bigger by losing focus on the 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 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 Nathan Hayes.   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!

Welcome to this episode of 20/20 Money! My guest on today’s show is Eric Nelson (@servowealth on Twitter). Eric joins us back on the show to talk through being an investor in a choppy market, as we’re recording this as the major markets are knocking on the door of a bear market, which is when markets decline 20% from their previous highs. We talk about celebrating diversification, the role of fixed income in the current interest rate environment, portfolio distributions in retirement, and investing in challenging markets when you haven’t taken action on your portfolio in a long time.   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 Eric Nelson. 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!

Running a practice can be complicated and there is no shortage of numbers to track. Distilled down, though, an optometry practice (or any business for that matter) has three areas in which to deploy the excess cash that it produced. In this episode, we’ll discuss those three areas, the prioritization of those areas, and why it’s important to understand the relationship that all three of them have with one another.   Resources: Do you have an intentional practice? – Review of Optometric Business   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!

Welcome to this rewind episode of 20/20 Money! My guest on today’s show is Dave Goetsch. I wanted to bring this episode back from early 2020 because we are finding ourselves in the midst of another market correct, albeit for different but yet related reasons. What I think it still timely (and timeless) about this conversation is the part where Dave talks about some of the big bets and lessons he made as investor along the way to having a disciplined investment philosophy. I think it’s important today as investors reconcile with some of the concentrated areas of the market that are experiencing some steeper corrections than others, notably those assets in the cryptocurrency space as well as the tech and “COVID stock” parts of the market.   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 Dave Goetsch. 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!

Welcome to this episode of 20/20 Money! My guest on today’s show is Erich Mattei. Erich is the founder of Akrinos, a consulting firm that not only helps ODs thrive in today’s practice management landscape but takes it a step further by helping with the implementation and execution of identified strategies that will improve upon a practice’s success. In this conversation, Erich joins me live at Vision Expo East in New York City to discuss the best way for Associate ODs to approach practice owners about compensation adjustments, and how to best set yourself up for success.  Opportunity Simulator on Akrinos website 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!

Sometimes we can lose focus of just how simple business can be, and an optometric practice isn’t any different. In this episode I’ll break down the three factors that, when multiplied together, will give you the top line, gross revenue of your practice. I’ll then walk you through the mindset and logistics of how you can use this number to start thinking about intentionally creating the practice that ultimately serves you and your personal goals.   Resources: Register for “Looking back to look ahead” tax planning webinar Do you have an “intentional” practice? – Review of Optometric Business Plan your year: an introduction to free, focus, and buffer days (episode 114 of 20/20 Money) If you’re interested in registering for our tax planning workshop on May 11th, you can click on this link to register. Info on the AOA Credit Card 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!

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Bethany Fishbein. Bethany is the CEO of Power Practice and host of the Optometry Power Hour podcast. Bethany joins me live from Vision Expo to talk about her perspective on why we both love the model of private practice model in optometry, why it’s important to surround yourself with a good community as a business owner and OD, the importance of learning about leadership and business, and ways in which you can take action on the areas that we discuss.   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. Bethany Fishbein. If you’re interested in registering for our tax planning workshop on May 11th, you can click on this link to register. Info on the AOA Credit Card 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!    

Welcome to this episode of 20/20 Money! Coinciding with tax day, this episode will dive into the nuances and understanding the clarity (and penalties) associated with not understanding that getting an extension to file your tax return is not an extension to pay. I’ll also discuss the details of underpayment penalties as well as how to think about proactive cash flow planning and how that influences your tax payment schedules and strategies.   If you’re interested in registering for our tax planning workshop on May 11th, you can click on this link to register.   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.   Info on the AOA Credit Card Failure to pay penalty information from IRS.gov 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!

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Todd Cohan (email; website).   Todd joins the show to talk about how much of a positive impact integrating ocular surface disease has been not only for the increased standard of care he’s been able to provide patients but also how that has helped him run a very profitable practice. We start out talking about how his practice does things a bit different by charging for the pretesting in their office, how that has translated into his revenue per patient being in the 99th percentile, how he got involved in OSD, a bit of a clinical digression about Lipiflow, mistakes he’s observed practice owners make, and how practice owners can begin to think about executing on this plan in their 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 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. Todd Cohan. 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!

Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Gina Wesley, OD. Gina joins me for another conversation around the importance of being tuned into the scheduling metrics of your practice and how important it is to your overall profitability. We talk about the metrics she uses to evaluate and determine success, strategies her team uses to fill up the schedule, how she “triages” candidates to backfill the schedule, how she tracks all of this in her HER, and the important benefit that online scheduling plays in the flow of her schedule.   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. Gina Wesley.   Complete Eyecare of Medina Gina’s Tip of the Week article Episode #80 of 20/20 Money: Managing your schedule to profitability 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!