20/20 MONEY: The Business of Optometry

Welcome to this episode of 20/20 Money! My guest on today's show is Chris Tuff. Chris is the author of the book The Millennial Whisperer and in this conversation we talk about all things related to leading a team. As one might expect, a lot of the conversation that we had is applicable to leading all team members—not just Millennials. We talk about the importance of understanding your employees' p...

Welcome to this episode of 20/20 Money! My guest on today's show is David Mason, Ph. D. David joins me on the show to talk about a seemingly abstract but important distinction that you should consider when thinking about your team: do you have satisfied team members or engaged team members? Our conversation spills over into multiple different topics, ranging from the importance of acknowledging im...

Welcome to this episode of 20/20 Money! My guest on today's show is Dennis Moseley Williams . Dennis joins me to revisit the importance of the customer experience on the success of your practice. He shares the five phases of the patient experience and how to think differently about the way you engage your patients in your practice. I really love having these conversations because of how important...

Today's episode is a bit special because I'm FINALLY able to announce that the 20/20 Money Membership is live! The beginning of the show is a walk-through of the membership, the offering, who it's for, and why I created it.   One IMPORTANT item that I didn't share in the episode: join the Membership by September 30th using promo code FOUNDER and get $200 off the annual membership (use FOUNDERMONTH...

Welcome to this episode of 20/20 Money! My guest on today's show is Dr. Justin Kwon, OD. Justin joins me on the show to talk all things myopia control. Justin's passion for this topic is very evident and I found our conversation very informative. While there's the obvious clinical angle that is a deeper and separate discussion than what we had here on the show, Justin does a great job illustrating...

Welcome to this episode of 20/20 Money! My guest on today's show is Dr. Chris Lopez.   Chris joined me back on the show to talk about all things related to the associate OD/owner OD relationships. As the career consultant at ODs on Finance, Chris has a unique perspective and gives us insight on the conversations he has been having with both associate ODs and owners looking to hire associates. We t...

Welcome to this episode of 20/20 Money! My guest on today's show is Pete Kehoe, OD.  Pete joins me back on the show to discuss all the hard lessons he and his team have recently learned while they navigated their practice being shut down due to a massive ice storm that destroyed a large portion of the building's roof.  Pete shares more about the headaches endured when he learned his practice wasn'...

Welcome to this episode of 20/20 Money! My guest on today's show is John Marvin President of Texas State Optical. As one of the country's oldest optometry business models, TSO has seen many different headwinds and tailwinds that have impacted optometry. As President of TSO over the past 20 years, John has seen TSO grow into one of the top 10 retail optical organizations in the country, doing over...

Welcome to this episode of 20/20 Money! My guest on today's show is Tim Merrigan with Acquios Advisors . In the 16 years or so that I've been an advisor, I've noticed that there's something "motivating" about turning 50: people start thinking about their lives differently and thus they start re-evaluating the way they've been investing and spending not only their money, but also their time. Tim jo...

Welcome to this episode of 20/20 Money! My guest on today's show is Mike Jorgenson with Carr Healthcare Realty. Mike joins me back on the show to give us an update on what he and his team around the country are seeing in the commercial real estate market. We also dive into some of the considerations, mistakes, and blind spots that both buyers and sellers find themselves in when selling a practice...

Welcome to this episode of 20/20 Money! My guest on today's show is Eugene Shatsman, Managing Partner of National Strategic Group and new host of The Power Hour Podcast .   In this wide-reaching marketing conversation, Eugene shares a variety of "low hanging marketing fruit" mistakes and misconceptions that practice owners nationwide have about how marketing should be leveraged in their practice....

Welcome to this episode of 20/20 Money! My guest on today's show is Amber Morgan, CPA with Mohr CPAs. In the wake of tax season, Amber and I run through some of the easy and conspicuous action items that you can take proactively over the year that not only will have a positive impact on your overall tax planning, but also make for a happy and productive CPA-client advisor relationship.   One addit...

Welcome to this episode of 20/20 Money! My guest on today's show is Amanda Bennett. Amanda joins me on the show to talk about a topic that we've discussed directly and indirectly on this show—human capital. Specifically, Amanda talks about a gap that she saw in the hiring process over the years and how she developed a platform to help automate part of the hiring process. We start out talking about...

Welcome to this episode of 20/20 Money! My guest on today's show is Dr. Ryan Gustus, OD. Ryan joins me on the show live from Vision Expo East to discuss something that is very timely given the recording location: how practice owners can think about the implementation of various pieces of equipment in your practice to ensure that it's done with intention and leads to profitability. As an example, R...

As a reminder, you can get all the information discussed in today's conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our monthly "planning life on purpose" newsletter that's filled with tips and ideas to help you plan life on purpose. You can also set up a Triage conversation to learn a little bit more about how we...

Welcome to this episode of 20/20 Money! My guest on today's show is Dr. Adam Ramsey, OD.   Adam joins me back on the show to continue the conversation that we teased at the end of our first conversation which was how Adam evaluated the decision to go out of network with a variety of VCPs that he was taking in his practice. He shares how he came to the realization that he needed to do it, how he ev...

Welcome to this episode of 20/20 Money! My guest on today's show is Nathan Hayes with IDOC.   Nathan joins me back on the show and we put a quantitative spin on our conversation today. We talk all things benchmarks and margins in an optometry practice. We discuss how to use benchmarks to make smart practice decisions and ways in which benchmarks can actually give you a false sense of anxiety and s...

In the spirit of managing information overload, I wanted to take a week to pause on new information and rather share a process or organizing and prioritizing your thoughts, goals, and actions that can often stem from listening to shows like 20/20 Money and the consumption of other content.   Resources: 20/20 Money Community Information reMarkable 2 Tablet  ————————————————————————————— Please rate...

Welcome to this episode of 20/20 Money! My guests on today's show are Dr. Todd Cohan and Sadie Blair.   Todd & Sadie join me on the show today to talk about the successful dynamic that exists between both of them as owner and practice operations manager. Todd shares how impactful it's been to have a great team member and integrator like Sadie in the practice and how that has allowed the practice t...

Welcome to this episode of 20/20 Money! My guest on today's show is Bethany Fishbein, OD.   Bethany joins me on the show live from Vision Expo East to talk about one of the most important relationships in an optometric practice: the relationship between the practice manager and the owner/OD. In this conversation, she talks about the evolution of the managerial role in the practice as the practice...

Welcome to this episode of 20/20 Money! My guest on today's show is Dr. Jennifer Stewart, OD. Jen joins me on the show today to talk through her journey launching her tepid start practice, Look New Canaan. I've had Jen on the show multiple times in the past, and this was admittedly one of my more enjoyable conversations with a podcast guest. Maybe it's because it was live, or maybe it's because Je...

Welcome to this episode of 20/20 Money! My guest on today's show is Kayla Ashlee from Spexy .   Kayla joins me live on location at IDOC Connection 2024 to talk all things optical. Optical is admittedly an area of practice management that has always been intriguing because of the retail component—I feel like there are a lot of "retail 101" lessons that we can take from how other retailers manage th...

Welcome to this episode of 20/20 Money! My guest on today's show is Dr. Adam Ramsey, OD, representing VA Healthcare . In this episode, we talk about the role that a virtual medical assistant can play in your practice's patient flow and how to think about the changes that you'd have to make in your practice for this to be a viable option. Adam provides a list of responsibilities that they're doing...

Welcome to this episode of 20/20 Money! My guest on today's show is Nathan Hayes from IDOC.   Nathan joins me back on the show to discuss and dialogue about the two basic ways practice owners can think about the way in which they hire associates for their practice: easing into it by bringing them into the practice gradually or proactively planning ahead by stockpiling cash in the practice and thus...

Welcome to this episode of 20/20 Money! My guest on today's show is Dr. Kurt Steele, OD. Kurt joins me back on the show to talk in further detail how he and his partners have structured their compensation structure in a way that works for everyone in the practice while also ensuring that there is parity in comp based on the amount of revenue that each of them collect for the work they do clinicall...