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Wanted: Vendor-Partners Who Support Independent ODs 

Posted by margery weinstein May 23, 2014 Categories: finance practice management

By Michael J. Zucker, OD

Vendors who respect and support independent ODs are vital to the independent practitioner's success. How do you find vendors who will partner with you to work toward profitability, rather than undermine your efforts?

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Practice Purchase or Expansion: Manage Expenses to Reach Profitability 

Posted by margery weinstein May 08, 2014 Categories: budgeting finances practice sale second practice

By Chad Fleming, OD, FAAO

Purchasing or expanding a practice can be more costly than you think. Here is how to break down the financials to project when you reach profitability.

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Acquiring a Second Practice: Six Tough Questions to Ask Yourself 

Posted by margery weinstein May 07, 2014 Categories: finance finances practice sale practice transition second practice

By Robert Schultz

Most doctors are surprised at the initial low return of a second practice acquisition. Look at the entire picture, not just the initial return. Here are six tough questions to ask yourself to determine: Do I buy? Or walk away?

 

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Lessons Learned: Avoid New Practice Miscalculations 

Posted by margery weinstein May 01, 2014 Categories: new practice practice growth

By Diane Palombi, OD

The exciting first years in independent practice are full of possibilities--and potential mistakes. Here’s how to avoid common “beginner” miscalculations.

 

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Online Listings: Be Effective When Listing Your Practice for Sale 

Posted by margery weinstein Apr 18, 2014 Categories: finance finances practice sale practice transition retirement

By Mark Wright, OD, FCOVD

Increase your chances of finding a buyer by strategically listing your practice online. The web sites of optometry schools are a good resource to utilize.

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Refract Your Finances to 20/20: Put More Money Away for Retirement 

Posted by margery weinstein Apr 17, 2014 Categories: finance finances numbers retirement security wealth management

By Adam Cmelja, CMFA

Securing your financial future takes careful preparation. Here is how an OD and his wife worked with a financial advisor to crunch the numbers, save money in practice operations, and get on track for a prosperous retirement.

 

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Starting Cold: Calculate & Manage Expenses to Reach Profitability 

Posted by margery weinstein Apr 09, 2014 Categories: finance finances new practice numbers

By Chad Fleming, OD, FAAO

Starting a new practice cold may be more costly than you think. Here is how to break down the financials to project when you reach profitability.

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Patient Financing: Communicate the Message, Facilitate the Purchase 

Posted by margery weinstein Apr 03, 2014 Categories: CareCredit finance finances patient financing

By Gina M. Wesley, OD, MS, FAAO

Providing patients with financing options is a welcome service that can boost revenues. A provider rep can help to train your staff to make effective presentations. 

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5 Major Practice Liability Areas--and What to Do About Them 

Posted by margery weinstein Mar 20, 2014 Categories: billing and coding practice management staffing

By Pamela Miller, OD, FAAO, JD, DPNAP

There are areas of liability to your practice that you may be overlooking. Here's how to protect yourself and your practice from legal liability in five major areas.

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Apply Proven Strategies to Reduce No-Shows 

Posted by margery weinstein Feb 06, 2014 Categories: no-shows office flow patient flow

By Maria Sampalis, OD

No-shows are a problem that you may never fully conquer. But here are seven strategies for making them less likely.

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