The Optometry Success Podcast

What if making less money actually made your practice—and your life—better?   In this episode of The Optometry Success Podcast, we explore a tension that can quietly create significant friction between practice partners: what happens when one owner wants to maximize profitability while another is willing to trade some of that profit for greater capacity, less stress, and a better quality of life?   We discuss why neither owner is necessarily wrong. Adding staff, scribes, technology, or other resources may reduce profitability if the additional capacity isn't converted into more production—but that doesn't automatically make it a bad business decision. The real question is whether everyone understands what they're receiving in exchange for the dollars they're giving up.   That becomes especially important in partnerships. When owners have different financial goals, work preferences, or definitions of success, seemingly simple decisions about staffing and expenses can quickly become much bigger conversations about fairness and compensation.   We also discuss the danger of trying to solve every difference through formulas, policies, and operating agreements. You can't legislate your way around poor communication. As we discuss in the episode, there's often a seamless transition between communication ending and resentment beginning—especially when money is involved.   Have a question for us to address in a future episode? Submit it here!   Resources: Book: Die With Zero Book: Crucial Confrontation Learn more about Partners in Profit Download the Practice Owner's Financial Toolkit 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Check out Adam's new book: How to Buy an Optometry Practice     Subscribe on Apple Podcasts: https://shorturl.at/Fq1Ro  Subscribe on Spotify: https://shorturl.at/jCtsk 

The wrong CPA may file your tax return perfectly—and still be the wrong CPA for your practice.   This week on The Optometry Success Podcast, we're answering a listener question from a new 50% practice owner whose longtime CPA may soon be retiring: What should I be looking for when interviewing a new CPA, and what questions should I ask?   Before you start interviewing firms, though, there's an important distinction to make: What do you actually expect your CPA to do?   Do you need someone to prepare tax returns and make sure everything is filed correctly? Do you expect proactive tax planning throughout the year? Are they handling bookkeeping and financial reporting? Do you want them advising you on business decisions? And how does the CPA fit alongside the other professionals already sitting at your proverbial advisory roundtable?   We discuss why practice owners sometimes overestimate how much their CPA understands about the actual business of optometry. Knowing how to read a P&L and prepare a tax return isn't the same as understanding what healthy margins should look like inside an optometry practice or how an owner should operate the business.   From there, we get tactical with questions you can use when interviewing your next CPA. How many healthcare and optometry practices do they serve? What does their service model actually look like? How proactive is their tax planning? Do they have experience with the tax laws in your state? What technology do they use, and how accessible is your financial data? What mistakes do they commonly find when taking over optometry practices from other accounting firms?   We also discuss why your CPA probably shouldn't be the only person advising you on how to run your business. A strong practice owner builds a roundtable of professionals with different areas of expertise rather than expecting one advisor to know everything.   NBS (Next Best Step): Before interviewing another CPA, define the role you need them to fill. Then build your interview questions around that expectation. You're not simply looking for someone capable of filing a tax return—you're looking for the right person to occupy the CPA seat at your advisory roundtable.   Have a question for us to address in a future episode? Submit it here!   Resources: Learn more about Partners in Profit Download the Practice Owner's Financial Toolkit 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Check out Adam's new book: How to Buy an Optometry Practice     Subscribe on Apple Podcasts: https://shorturl.at/Fq1Ro  Subscribe on Spotify: https://shorturl.at/jCtsk 

Getting rid of your front desk sounds great in theory—but what does it actually look like on Monday morning?   In a recent episode of The Optometry Success Podcast, "Why do you still have a front desk?", we challenged one of those assumptions in optometry that often goes unquestioned simply because "that's the way we've always done it." That conversation generated a listener question asking us to go one step further: How do you actually make this work?   So that's exactly what we're doing in this episode.   Chad walks through the self-check-in system he built and currently uses in his practices, including the physical kiosk setup, the simple technology behind it, the questions patients are asked when they arrive, and how that information gets communicated to the appropriate team members in real time.   We also talk about why eliminating the traditional front desk doesn't mean eliminating the patient experience—or even eliminating a team member. In fact, the better way to approach this may be to start running the new system while your existing front desk is still in place. Let patients learn the process. Let your team learn the workflow. Find the problems. Make adjustments. Then see whether the traditional front desk is still necessary.   This is a perfect example of Jim Collins' concept of firing bullets before cannonballs. You don't need a major remodel or an expensive technology investment to test the idea. A relatively inexpensive kiosk, an iPad, and a simple form can give you enough information to determine whether the concept works in your practice.   And if it does, the upside extends beyond payroll. You may create a more efficient check-in experience, reduce your dependence on a difficult-to-staff position, and even reclaim valuable square footage for more productive uses.   NBS (Next Best Step): Don't start by getting rid of your front desk. Start by making it unnecessary. Build a simple self-check-in process alongside your existing workflow, train patients and staff to use it, and see whether the system can gradually replace a task you've historically needed someone to perform.   Examples of a kiosk stand   Have a question for us to address in a future episode? Submit it here!   Resources: Learn more about Partners in Profit Download the Practice Owner's Financial Toolkit 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Check out Adam's new book: How to Buy an Optometry Practice   Subscribe on Apple Podcasts: https://shorturl.at/Fq1Ro  Subscribe on Spotify: https://shorturl.at/jCtsk 

As a practice owner, it's possible to manipulate your financials in ways that make the business appear healthier than it really is, often without realizing you're doing it. On this episode, my co-host, Dr. Chad Fleming, and I discuss how decisions like paying yourself an artificially low salary or charging the practice below-market rent can inflate your reported profitability and create a false sense of financial happiness. We also discuss why practice owners need to normalize their financials, use consistent definitions when talking about profit margins, and understand the difference between profitability and cash flow. If the numbers don't reflect the true cost of operating the practice, you may be making decisions about equipment, hiring, debt, or expansion based on a financial reality that doesn't actually exist. Our next best step for you is to review your practice financials and ask whether they reflect fair owner compensation, realistic operating expenses, and the true financial health of the business. If you aren't confident in the answer, surround yourself with professionals who can help you establish accurate numbers before making your next major decision.   Have a question for us to address in a future episode? Submit it here!   Resources: Simple Numbers, Straight Talk, Big Profits! by Greg Crabtree Learn more about Partners in Profit Download the Practice Owner's Financial Toolkit 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Check out Adam's new book: How to Buy an Optometry Practice   Subscribe on Apple Podcasts: https://shorturl.at/Fq1Ro  Subscribe on Spotify: https://shorturl.at/jCtsk 

In this episode of The Optometry Success Podcast, we challenge practice owners to reconsider whether they still need a traditional front desk. Chad shares how his practices use self-service check-in kiosks to address staffing challenges, reclaim office space and redirect payroll toward higher-impact roles. We also discuss how front-desk responsibilities can be reassigned or automated without sacrificing the patient experience. We're not suggesting every practice eliminate its front desk. Instead, we want owners to question long-standing assumptions and consider whether a kiosk could solve staffing, efficiency or space challenges.   Have a question for us to address in a future episode? Submit it here!   Resources: Learn more about Partners in Profit Download the Practice Owner's Financial Toolkit 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Check out Adam's new book: How to Buy an Optometry Practice   Subscribe on Apple Podcasts: https://shorturl.at/Fq1Ro  Subscribe on Spotify: https://shorturl.at/jCtsk