By ROB Editors
March 8, 2023
Creating a practice with impressive profitability, and long-term financial strength, requires an intentional approach. Three ODs share how they did this.
How a $4 Million+ Practice Increased Net Profit Without Cutting Staff Costs
By Ken Krivacic, OD, MBA
I built a more-than $4 million practice, which I profitably sold in 2020. Over the years of practice ownership, I saw firsthand the delicate balance between keeping costs in check, including staff salaries, and the need to maintain a great patient experience and spur growth.
Other Articles to Explore
Here is what I learned from my own experience about balancing staff salary cost controls and building a profitable practice. >>READ MORE>>
How to Make Practice Real Estate an Investment with $1 Million ROI
By Aaron Neufeld, OD, FAAO
Purchasing real estate to house your practice, and possibly rent out to other businesses, can deliver a tremendous return on investment. Here is how I made investing in practice real estate a financial winner. >>READ MORE>>
My 3 Most Powerful Cost Cuts: 11% Reduction in Expenses & $100 More Per Patient
By Kimberly K. Friedman, OD, FAAO
Providing eyecare can be rewarding as you change the lives of patients–and costly. Here are a few key ways I reduced costs in my practice, and the impact on profitability for taking those actions. >>READ MORE>>
