20/20 MONEY: The Business of Optometry

If you wait until you're ready to sell to start planning, you're already late. My guest on today's show is Tom Turmell, founder of TMT Capital. Tom joins me to talk about practice ownership, succession planning, and what optometrists need to understand long before they ever think about selling their practice.   We discuss why creating value ahead of a transition matters, the importance of having t...

If you've ever felt chained to your practice and the thought of stepping away for an extended period of time felt impossible, I PROMISE you do not want to miss this inspiring and yet very pragmatic conversation. Dr. Jeremy Ciano joins me back on the show to share his journey of taking a recent sabbatical and what it taught him about business and life.   We talk about the challenges of stepping awa...

In this derivative of a show takeover, Dr. Brianna Rue interviews me to explore my journey in podcasting and the insights I've has gained about the optometry profession. We discuss the challenges optometrists face, the importance of financial literacy, and many other lessons I've learned through and because of the conversations I've had on this show. We cover a lot in this dialogue and—among many...

Most practice owners know they should be tracking specific measurables in their practice that will help them understand their paths to profitability. But which metrics should you track, and which ones are more vanity metrics than they are useful and beneficial towards running a profitable and growing practice? In this conversation, Nathan Hayes and I explore the many different KPIs that we have he...

Arguably the biggest ongoing challenge practice owners face can be lumped into staff—both OD and non-OD alike. This challenge can be amplified for owners in small town/rural practices. Hear from successful practice owner Dr. Andy Yaryan on the approach he's taken to recruit and retain ODs in his small town practice, how he's making the intentional decisions to become a better leader and owner, and...

On this episode, I wanted to share a bit of a personal story about 3 lessons that I learned from my grandparents that have in large part shaped the money story and lessons that have guided my financial journey and how I view and use money money in my life. I hope this conversations gives you a benchmark and different viewpoint to compare your own money values and purpose. If you feel like you don'...

Welcome to this episode rewind of 20/20 Money! In keeping with tradition of years past, I'm bringing back this episode yet again.   If you are a long-time listener of the show, I still think it's worth listening to these episodes and other repeat episodes, whether it's on my podcast or other podcasts, for two reasons. Number one, the host of the show valued the episode and thought it to be worthy...

In this reflective episode, we'll explore the most impactful books I've read in 2025. From exploring personal growth and professional evolution to sharing insights on leadership and success, I'll share the themes that shaped my year. I'll discusses the challenges and triumphs of balancing identity and ambition, hopefully offering valuable takeaways for optometry professionals and beyond.   Book Li...

Almost every business owner knows they need to spend time working ON and not just IN their business. But what does it mean to take that concept to a whole new level by traveling and spending time outdoors with colleagues and strategic partners? Whether you choose to take time out of your business to work on your business and do it across town or across the country, this conversation with Drs. Juli...

Why failure can be your friend with Dr. Chris Wolfe, ODHow can failure be your friend, and why should you embrace failure? On this episode—which is actually me guest-hosting Dr. Chris Wolfe's podcast EyeCode Media—we discuss a journey Chris has been on for awhile, how he failed, and why he considers the failure a positive influence in his life. I share my perspective of the situation and the lesso...

ODs tend to be a pretty risk-averse group, which means failure and risk can be avoided or almost taboo topics. But risk is required for any type of return in life. So how should practice/business owners think about risk? If you're embarking on a new growth goals for your practice—like adding an associate doctor—how do you prepare for that investment into the practice and how long do you continue d...

So much of business ownership is about your mindset. So what happens when you take the cognizant approach to shift your mindset from a practice owner to a CEO? What are the necessary strategies you must incorporate into your life if you want accomplish more but yet do it in the same (or less time)? And how does this work when you try and build a tech company on top of it all? Dr. Brianna Rhue, OD—...

In this episode, Dr. Steve Vargo returns to talk about a topic many ODs quietly struggle with: the role of sales in patient care and practice performance. Inspired by a recent post he shared on LinkedIn, we explore why certain KPIs feel frustrating to improve and how a simple shift in perspective can change the way doctors think about influencing patient outcomes. Steve and I discuss the stories w...

Why has the profession of optometry had such a complicated relationship with VCPs (vision care plans) over the years? Some practice owners love them. Others despise them. Some practices are on all the panels. Some have intentionally jettisoned themselves from every plan and gone out of network entirely. On this episode, which in a way serves as a follow-up discussion to my conversation with Dr. Ch...

On this episode, we explore the unique intersection of financial planning and personal growth, discussing the importance of thinking on our thinking, the paradigm shift from accumulating to decumulating assets, and the role of community in achieving financial confidence. Roger shares insights from his Rock Retirement Club, emphasizing the value of optionality and the art of managing complex proble...

There are few episodes where I tell you to rewind and listen again to something that a guest has says. This is one of those episodes. From the importance of using the patient's name to offering appointment options without directly asking if they want to schedule, this conversation with Tim is a great example of why words matter in all aspects of the patient experience.   As a reminder, you can get...

Ever wonder where all your money's going in your practice? Sharon's here to share the "usual suspects" of practice (mis)management that's costing practice owners tens (sometimes hundreds) of thousands of dollars. We also highlight the importance of goal setting and creating a positive workplace culture to retain staff and drive practice growth. Lastly but importantly, if there's a topic that you h...

Dr. Adam Bryan shares his journey of transitioning his optometry practice through a private equity sale. He discusses the evolving landscape of optometry ownership, the challenges and opportunities presented by private equity, and the importance of maintaining practice culture during the transition. Dr. Bryan reflects on the decision-making process, the negotiation of the sale, and the communicati...

Dr. Chris Smiley offers a contrarian—but experience-backed—perspective on one of the most divisive topics in optometry today: vision plans. While many private practice ODs are dropping them entirely, Dr. Smiley makes the case that with the right strategy, vision plans can actually be a powerful engine for growth, profitability, and sustainability. He challenges the myths around reimbursement, expl...

Let's discuss the legal intricacies of exiting a practice, particularly in the context of private equity transactions. On this episode, David Cohen and I explore the importance of managing expectations for sellers, understanding the valuation process, and the implications of debt and real estate ownership in practice sales. Our conversation emphasizes the need for thorough preparation and professi...

Selling to PE can be conflicting for some owners. On this episode, Dr. John Abbondanza discusses the decision-making process, the importance of understanding one's values, and the impact of the sale on his team and patients. The conversation delves into the nuances of private equity in optometry, the significance of communication during transitions, and the lessons learned throughout the experienc...

In this eye-opening episode of The Power Hour, host Eugene Shatsman welcomes back  Adam Cmejla, Certified Financial Planner, Founder and Owner of Integrated Planning & Wealth Management, and Host of 20/20 Money Podcast — to pull back the curtain on the relentless "compression" squeezing optometry practices right now.    As a reminder, you can get all the information discussed in today's conversati...

Welcome to this episode of 20/20 Money! My guest on today's show is Nathan Hayes. In this episode, we discuss the complexities of business valuation and exit planning for optometry practices. We explore the importance of understanding cash flow, market multiples, and the necessity of being exit ready at all times. The conversation delves into the five D's of business exit planning, sources of valu...

Long term care (LTC) is a complicated, misunderstood, and emotional topic for any family to discuss. Even if you're a younger listener and think "Oh, this episode isn't applicable to me," I'd still encourage you to give it a listen as the topic of LTC is generational. On today's episode, Bryan and I discuss the basics of what LTC is and what it's not, the difference between LTC planning and LTC in...

Welcome to this episode of 20/20 Money! My guest on today's show is Taylor Schulte, CFP®, host of the Stay Wealthy Retirement Show Podcast.   In this episode, we discuss the often-overlooked aspects of retirement planning, focusing on the importance of understanding blind spots, the need for purpose in retirement, and the role of community. We explore cash management strategies, the limitations of...