The Practice Owner’s Financial Overview: A Comprehensive Percentage Breakdown Guide of COGS, Operating Expenses, & Net

KEY POINTS: (1) Cost of Goods Sold (COGS) typically ranges from 26% to 32% of gross revenue, varying by practice focus (retail vs. medical). (2) Operating Expenses often break down into: Staff (18–24%), OD Payroll (14–20%), Occupancy (5–8%), and Marketing (1–2%). (3) Net Income falling within 27–35% of gross revenue indicates solid profitability and efficient…

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Methods of Valuing an Optometry Private Practice: A Comprehensive Guide

Valuing an optometry private practice is essential for many purposes, whether it be the sale or purchase of a practice, partnership buy-ins, securing loans, or planning for retirement. Ultimately a practice sells for a price that both the buyer and seller deem to be equally fair. However, there needs to be a starting point. Determining a fair value requires a detailed understanding of the business’s financials, market conditions, and intangible assets. Here, we explore several commonly used methods for valuing an optometry private practice, each with its unique considerations.

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Optometrist 📊 Income Report 2025 | Largest Sample Size 2,203+ ODs

We’re thrilled to share our largest Optometry Income & Salary Survey yet—2,203 doctors provided insights on key factors like student loan ROI for students, fair compensation, and the true impact of annual income on our profession. This year, we normalized earnings by days worked to give a clearer picture of each OD’s real income potential. What You’ll…

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Annual Report 2024: In Review, and a Look at 2025!

Overview Dear ODoF Community! Can you believe it’s already one month into 2025?  First, we would like to acknowledge that annual reports normally go out at the beginning of the year, however with so many moving parts and exciting projects we had to delay this a bit – our apologies in advance! In 2024, we…

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16 End-of-Year Financial Checklist For Optometrists in 2024

As 2023 draws to a close, it’s vital for optometrists to focus on financial planning for a stable and prosperous future. This checklist, designed for eye care professionals, will guide you through key year-end financial tasks. While not every item may apply to your practice or personal finances, reviewing each one ensures you don’t miss important opportunities or obligations.

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Retirement & IRS Limits Comparison: 2024-2025

As we approach 2025, retirement contribution limits including 401(k)s, 403(b)s, SIMPLE IRAs, SEP-IRAs, HSAs, and FSAs, have been adjusted modestly due to stabilized inflation rates. While catch-up contributions for those aged 50+ remain indexed to inflation, the IRS has postponed a Secure Act 2.0 provision requiring high earners ($145,000+ in Social Security wages) to make Roth-only catch-up contributions until 2026. Notably, starting in 2025, individuals aged 60-63 can contribute the greater of $10,000 or 50% more than the standard catch-up amount, providing an opportunity to boost retirement savings during peak earning years.

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2024 Optometrist Income Report

With increasing student loan debts, an ever changing economy, and a profession that continues to withstand disruption – many optometrists begin to question their associated worth as practitioners.  While the old phrase “comparison is the thief of joy” rings true in certain facets, comparison to get a true sense of trends in salary, debt load…

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Annual Report 2023: In Review, and a Look at 2024!

In the next reading, you’ll discover metrics that mirror our community’s overall progress, along with the resources and offerings this growth has enabled us to continue providing. Next, we’ll transparently outline the methods ODs on Finance employs to generate revenue. Lastly, we’ll offer you a sneak peek at some major projects we’re embarking on for 2024, aiming to further our profession and assist every OD in achieving financial freedom.

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