Practice Management and Profitablity
Owning a practice gives you the rare opportunity to truly control your career and financial destiny. The path certainly isn't easy and there are multiple ways to both success and failure. Learn some tips on how to make your practice thrive and become more profitable below:
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Annual Report 2025: In Review, and a Look at 2026!
Overview Hello, ODs on Finance family, Throughout 2025, we saw continued growth across nearly every part of the ODs on Finance ecosystem. This included expansion of our Facebook community, ODs on Education (CE) events, website resources, strategic partnerships, and in-house services such as ODoF Merchant Services, the Cold Start & Practice Purchase Accelerator, ODoF Brokerage,…
16 End-of-Year Financial Checklist For Optometrists in 2025
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.
The Ultimate Optometrist’s Financial Guide to ‘Big Beautiful Bill’ Tax Plan
With the newly signed 2025 tax law (an extension of the Trump Tax Cuts and Jobs Act provisions), we have a host of updates that can directly impact high-income optometrists like us. Regardless of your political leanings, these tax changes present opportunities, and a few caveats. that matter for your bottom line.In this detailed article with factual citations, I’ll break down the key provisions of H.R. 1 (119th Congress): informally called the “One Big Beautiful Bill Act” (the Trump Tax Plan extension), and explain in first-person how each can affect your finances.
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…
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.
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…
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…
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…
How To Achieve Over 90% Capture Rate With Retina Widefield Script
As practitioners, we understand the importance of retinal imaging, and we need to be able to clearly explain that value to our patients. I’ve found that communication is key with patients – before, during, and after their appointments. This helps to eliminate any questions, and it ensures that they’re not only on board with the…