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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The Optometrist’s Guide to Writing a Business Plan
When it comes to building a great business, a business plan is a vital piece of the puzzle. A business plan explicitly explains how a business seeks to go after its mission and how it will utilize its operations to become profitable. Components of your business plan will help you think through problems and arrive at solutions. Alongside this, a well written and convincing business plan will help you obtain funding, bring in additional partners (if applicable) and even get investors.
The New Coronavirus Stimulus Package – FAQs for Small Business Owners
Here we go again! In case you missed it, congress recently passed a new COVID-19 stimulus package on December 22, 2020, that provides over $900 billion in aid to individuals and businesses – pending the president’s signature. Notable parts of the new bill include changes to PPP (Paycheck Protection Program), EIDL, clarification of tax treatments of relief funds, and an extension to the Families First Coronavirus Response Act tax credit.
To help you further understand the bill, here is a quick rundown of everything you may need to know in an easy to read FAQ format.
Virtual Masterclass: A Healthy Financial Mindset in Practice Ownership (Adam Cmejla, CFP) 1 hr COPE CE
Running a practice takes a significant investment of time, money, and energy. It can be extremely rewarding, but it can also be a catalyst for ODs living a life filled with stress, anxiety, and pressure. Learn proven, math-based approaches to solving pain points in the strategic manner in which you manage your practice.
Virtual Masterclass: Diagnostic Imaging in Macular Degeneration (1hr COPE CE)
We are ecstatic to host our next live CE event with the brilliant Dr. Jessica Haynes. We hope this CE event will help you better understand AMD technologies and gives some ideas on what technologies will be the best for your patient base and your practice.
This lecture will review diagnostic imaging strategies useful in the evaluation of macular degeneration including fluorescein angiography, optical coherence tomography, fundus autofluorescence, and optical coherence tomography angiography.
SWOT vs PEST Optometry Analysis
KEY POINTS: (1) SWOT analysis is for Strengths, Weaknesses, Opportunities and Threats, and is used for preliminary stages of decision making regarding business planning. SWOT analysis is simple. Draw a symmetrical grid with four boxes and label them Strengths, Weaknesses, Opportunities and Threats. (2) PEST analysis helps better understand environmental factors that can affect a…
Make Your Practice More Profitable (FB Live)
With rising challenges from decreasing insurance reimbursement, increased overhead, and online competition; being profitable in the private practice setting has become harder than ever. But here’s the thing: all these rising challenges can be dealt with and tackled head on. All that is required is creativity, “start up thinking,” and some sage advice from our…
CARES ACT Provider Relief Fund (HHS) Update – All Hail the Mighty Second Payment
In January, many eye doctors were excited, hey 2020 was supposed to be the Year of the Optometrist, right? Well, everything came crashing down when mid-March hit, thanks to a certain, highly contagious respiratory illness. While there has certainly been a lot of negative repercussions with the ongoing COVID-19 outbreak and public health crisis, there…
All You Need to Know about the PPP Flex Act
Since the COVID-19 pandemic hit the United States, Congress has passed a number of bipartisan bills aimed at helping the economy in a number of ways. One of the most recent is the Paycheck Protection Program Flexibility Act (PPPFA), which was signed by President Trump on June 5th. This article will answer all your questions…
PPP Flex Act & Forgiveness: Strategies and Highlight for Optometrists (Guest Post)
[Editor’s Note]: This is a guest post written written by Adam Cmejla, CFP®, one of our sponsorship partners. Aaron and Dat are extremely strict about guest requirements in that they must be educational and informative to our readers. Every guest post is vetted, read and upheld to the highest standards of ODsonFinance. Your trust is the most…