In this episode, we talk through how optometric practice owners can think about debt more responsibly and avoid letting borrowed money quietly eat away at practice cash flow. Adam explains why a healthy P&L does not always mean there is money available in the bank, and why the statement of cash flow often reveals how much of a practice's earnings are being consumed by financing activities. We discuss how debt can be used to accelerate growth, but also how it can create pressure when the practice takes on more than its earnings can reasonably support.

We also explore how to evaluate new equipment purchases before signing the check. Rather than buying based on excitement, peer pressure, a conference-floor sales pitch, or the promise of a tax deduction, we talk about using your own patient data, referral patterns, and a clear business plan to determine whether the investment actually makes sense for your practice.

Chad shares the practical tension many ODs feel between wanting to provide the best possible patient care and needing to protect the financial health of the business.

From debt service coverage to cash flow, taxes, profitability, equipment decisions, and long-term ownership strategy, this conversation gives optometric practice owners practical ways to "count the cost" before taking on new debt. We also discuss why different seasons of practice ownership may call for different financial strategies, and why a strong team of advisors can help owners make better decisions for the practice, their team, their patients, and their future.

Have a question for us to address in a future episode? Submit it here!

Resources:

Learn more about Partners in Profit

Download the Practice Owner's Financial Toolkit

20/20 Money Ultimate Financial Success Masterclass

OD Mastermind Interest Form

Check out Adam's new book: How to Buy an Optometry Practice

Subscribe on Apple Podcasts: https://shorturl.at/Fq1Ro

Subscribe on Spotify: https://shorturl.at/jCtsk

In this episode, we respond to a listener question from a doctor preparing to open a cold start practice. The listener asks whether there is value in buying patient charts from a nearby retiring doctor, especially if doing so could help the doctor retire sooner and create an opportunity to reach out to those patients.

Adam and Chad discuss why charts alone usually have very little value unless there is a clear transition strategy behind them. They talk through what a collaborative handoff could look like, including the retiring doctor actively introducing patients, emphasizing continuity of care, and helping pre-appoint patients into the new practice.

They also discuss the second part of the listener's question: whether it makes sense to purchase the retiring doctor's frame inventory. Chad shares why he would be cautious about buying existing inventory, especially for a cold start, and why new practice owners need to be careful with early capital decisions. The conversation wraps with a broader reminder that cold start owners should measure carefully, ask good questions, and understand that the cost of a wrong decision is often much higher before consistent revenue is coming in.

Have a question for us to address in a future episode? Submit it here!

Resources:

Learn more about Partners in Profit

Download the Practice Owner's Financial Toolkit

20/20 Money Ultimate Financial Success Masterclass

OD Mastermind Interest Form

Check out Adam's new book: How to Buy an Optometry Practice

Subscribe on Apple Podcasts: https://shorturl.at/Fq1Ro

Subscribe on Spotify: https://shorturl.at/jCtsk

In this episode, we kick off a broader series on how optometry practice owners can make more intentional, profitable decisions in the optical. Adam and Chad start with cost of goods, discussing why "average" benchmarks should not automatically be accepted as the goal and why even small percentage-point improvements can have a meaningful impact on the bottom line.

They also talk through the difference between choosing what you personally like and choosing what is best for the business, especially when it comes to frames, ophthalmic lenses, vendor relationships, lab strategy, and contact lens rebates. This conversation sets the stage for future episodes on frame choices, lens strategy, private label, lab decisions, and helping patients understand their options between managed vision care and out-of-pocket choices.

Have a question for us to address in a future episode? Submit it here!

Resources:

Learn more about Partners in Profit

Download the Practice Owner's Financial Toolkit

20/20 Money Ultimate Financial Success Masterclass

OD Mastermind Interest Form Check out Adam's new book: How to Buy an Optometry Practice

Subscribe on Apple Podcasts: https://shorturl.at/Fq1Ro

Subscribe on Spotify: https://shorturl.at/jCtsk

In this episode, we talk about why core values and core behaviors matter far beyond simply putting words on a wall. We discuss how clearly defined values can guide decisions around growth, team alignment, burnout, ownership, hiring, patient experience, and the overall direction of a practice. Chad also shares how his own leadership journey helped him better understand the role that personal and professional values play in creating a stronger, more intentional business.

We also walk through practical ways practice owners can begin defining and reinforcing these principles, even when it feels difficult to step away from patient care. From blocking a few hours with the leadership team to regularly revisiting values in staff meetings and connecting them to real-life behaviors, we make the case that a values-driven practice creates stronger culture, better consistency, and a more scalable foundation for growth.

Have a question for us to address in a future episode? Submit it here!

Resources:

Learn more about Partners in Profit

Download the Practice Owner's Financial Toolkit

20/20 Money Ultimate Financial Success Masterclass

OD Mastermind Interest Form Check out Adam's new book: How to Buy an Optometry Practice

Subscribe on Apple Podcasts: https://shorturl.at/Fq1Ro

Subscribe on Spotify: https://shorturl.at/jCtsk

In this episode, we respond to a listener question about how to balance shorter exam times with the desire to build strong patient relationships and deliver meaningful care. We talk through the difference between time spent with a patient and value delivered to a patient, and why a longer exam does not automatically mean a better experience. Chad shares how his perspective has evolved after practicing in different exam-time models, and we discuss how efficiency, delegation, and intentional communication can actually create a stronger patient experience when done well.

We also talk about practical ways to transition from longer exams to a more efficient schedule without making patients feel rushed or overlooked. From moving more objective testing into pretesting, to using doctor time for high-value face-to-face discussion, to gradually adjusting scheduling expectations, we explore how practices can respect both the patient's time and the doctor's time while still delivering excellent care.

Have a question for us to address in a future episode? Submit it here!

Resources:

Learn more about Partners in Profit

Download the Practice Owner's Financial Toolkit

20/20 Money Ultimate Financial Success Masterclass

OD Mastermind Interest Form

Check out Adam's new book: How to Buy an Optometry Practice

Subscribe on Apple Podcasts: https://shorturl.at/Fq1Ro

Subscribe on Spotify: https://shorturl.at/jCtsk

We break down a real listener question around one of the most common frustrations in practice today: navigating vision wellness versus medical exams and the pushback that comes with it.

We talk through how to communicate clearly with patients, set expectations early, and position yourself as part of their team rather than the source of the problem, all while reinforcing why medical eye care must take priority.

We also dive into the operational side of making this model work, including how to structure your schedule, increase patient flow, and adapt to lower reimbursement per visit without sacrificing profitability.

If you are struggling with patient confusion, insurance friction, or trying to transition into a more medical model, this episode gives you a practical framework to move forward with confidence.

Have a question for us to address in a future episode? Submit it here!

Resources:

Learn more about Partners in Profit

Download the Practice Owner's Financial Toolkit

20/20 Money Ultimate Financial Success Masterclass

OD Mastermind Interest Form

Check out Adam's new book: How to Buy an Optometry Practice

Subscribe on Apple Podcasts: https://shorturl.at/Fq1Ro

Subscribe on Spotify: https://shorturl.at/jCtsk

In this episode, we talk through a practical opportunity for optometry practices: offering extended warranties in the optical. Chad and I discuss why practice owners have to be careful not to project their own buying preferences onto patients, and why offering a warranty as a low-pressure choice can provide real peace of mind for patients who may not be able to easily replace broken frames or scratched lenses.

We also walk through how Chad has implemented extended warranties in his practice, the simple structure he uses for single vision and multifocal lenses, and the surprising financial impact it has created. We discuss why this can be both a patient-care tool and a meaningful margin opportunity, especially as practices continue to navigate managed vision care pressure, rising costs, and the need to think more creatively as business owners.

Have a question for us to address in a future episode? Submit it here!

Resources:

1. Learn more about Partners in Profit

2. Download the Practice Owner's Financial Toolkit

3. 20/20 Money Ultimate Financial Success Masterclass

4. OD Mastermind Interest Form

5. Check out Adam's new book: How to Buy an Optometry Practice

In this episode, we tackle a listener question that comes up often in multi owner practices: how to fairly split pay when ownership, production, and management responsibilities are not equal.

Chad and I walk through why a production only model usually creates resentment over time, why fair does not always mean equal, and how practices can think more intentionally about separating clinic compensation, management pay, and ownership distributions so each owner is rewarded for the value they actually bring. We also discuss how this kind of structure helps practices scale with less friction, more transparency, and better alignment among owners as the business grows.

Have a question for us to address in a future episode? Submit it here!

Resources:

Learn more about Partners in Profit

Download the Practice Owner's Financial Toolkit

20/20 Money Ultimate Financial Success Masterclass

OD Mastermind Interest Form

Check out Adam's new book: How to Buy an Optometry Practice

Subscribe on Apple Podcasts: https://shorturl.at/Fq1Ro

Subscribe on Spotify: https://shorturl.at/jCtsk

In this episode recorded live at Vision Expo, we dive into a thoughtful question from a listener considering a move from the VA into private practice with the long term goal of buying in, and we walk through why the better place to start is not the buy in itself but evaluating whether the practice is actually healthy enough to support an associate in the first place.

We talk through the importance of asking the right questions, both qualitative like understanding culture and how decisions are made, and quantitative like true schedule health and how a practice grows an associate's patient base, along with identifying whether an owner is truly running a business or simply owns a job.

Chad shares practical insight on what strong mentorship and intentional associate integration looks like, including track record, compensation structure, and clarity around a potential path to ownership, while we also emphasize the importance of networking, vetting opportunities beyond just the owner's perspective, and keeping an open mind geographically to find the right long term fit.

Have a question for us to address in a future episode? Submit it here!

Resources:

Learn more about Partners in Profit

Download the Practice Owner's Financial Toolkit

20/20 Money Ultimate Financial Success Masterclass

OD Mastermind Interest Form

Check out Adam's new book: How to Buy an Optometry Practice

Subscribe on Apple Podcasts: https://shorturl.at/Fq1Ro

Subscribe on Spotify: https://shorturl.at/jCtsk

In this episode, we answer a listener question about what an office manager's responsibilities should look like in a multi location practice, and we unpack why the real issue is less about a fixed task list and more about creating clear leadership structure, accountability, and consistent communication.

Chad shares how his practice approaches management across five locations by focusing managers on observation, training, patient flow, and 1:1 meetings rather than filling in for frontline staff, while we also discuss the importance of using data and tools to remove subjectivity, build culture intentionally, and help owners understand that investing time in leadership outside the exam lane is often what allows a practice to grow more profitably and sustainably.

Have a question for us to address in a future episode? Submit it here!

Resources:

Arlo Cameras

Learn more about Partners in Profit

Download the Practice Owner's Financial Toolkit

20/20 Money Ultimate Financial Success Masterclass

OD Mastermind Interest Form

Check out Adam's new book: How to Buy an Optometry Practice

Subscribe on Apple Podcasts: https://shorturl.at/Fq1Ro

Subscribe on Spotify: https://shorturl.at/jCtsk