What if one of the biggest opportunities to improve your practice's profitability isn't seeing more patients—but simply questioning the technology bills you've accepted as "just the cost of doing business"?

In this episode of The Optometry Success Podcast, Adam and Chad dive into one of the most overlooked expense categories on an optometric practice's P&L: IT and technology. From managed IT retainers to software subscriptions, networking fees, equipment warranties, and EMR integrations, they explore why so many practice owners assume these costs are fixed—and why that assumption may be costing them thousands of dollars every year.

Drawing from Chad's hands-on experience building and managing technology infrastructure in a growing multi-location practice, the conversation focuses less on specific vendors and more on developing the mindset to thoughtfully evaluate every recurring expense. The goal isn't to cut costs at all costs—it's to ensure every dollar spent is delivering meaningful value to both the patient experience and the long-term health of the practice.

In this episode, you'll learn:

1. Why IT expenses deserve the same scrutiny as any other line item on your P&L.

2. The trade-offs between managed IT services, subscriptions, and self-insuring certain technology costs.

3. How convenience and automation can quietly inflate overhead.

4. Why "everyone else does it" is rarely a good business strategy.

5. Practical ways to begin evaluating whether your current technology spending aligns with your practice's goals.

Next Best Step (NBS):

Ask your office manager or practice administrator to compile a complete list of every recurring technology-related expense—including IT retainers, software subscriptions, equipment support agreements, and integration fees. Don't make changes immediately. Simply review each item and ask one question: "Is this providing enough value to justify its ongoing cost?" Sometimes the greatest savings come not from eliminating technology, but from challenging long-held assumptions.

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, Chad and I build on our previous conversation about lab rebates by focusing on the next step: auditing the true cost of the optical jobs for which your practice pays the bill. We explain why comparing one discounted lens or rebate isn't enough and how analyzing the complete cost of your most frequently used lens-and-AR combinations can reveal what you're actually paying.

We also discuss how labs use loss leaders, when working with multiple labs may make financial sense, and why a buying group's preferred lab relationship doesn't automatically guarantee your practice the best pricing. We share how spreadsheets, AI tools, and insights from successful colleagues can help you compare your options, verify your current relationships, and protect your practice's profitability.

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, Chad and I continue our conversation about whether optometry practices should finish jobs in-house or send them to a lab. This time, we focus on the role managed vision care plans play in that decision, including state opt-out rules, required labs, reimbursements, and rebates.

We break lab analysis into two distinct lanes: when the managed vision care plan pays the lab bill and when the practice pays it directly. We also discuss why an attractive rebate does not always equal greater profitability and how I should evaluate the total net cost, product quality, turnaround time, and customer service before choosing a lab partner.

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

Resources:

Learn more about Partners in Profit

The Optometry Success Podcast Episode: Should You Finish In House or Send Your Jobs to a Lab?

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

Should your practice finish jobs in-house, or send them out to a lab? In this episode of The Optometry Success Podcast, we dig into a deceptively simple question that can have a major impact on profitability, efficiency, patient experience, and owner stress.

We talk through the decision matrix behind in-house finishing, including the obvious costs — lenses, equipment, and staffing — as well as the softer costs that are easy to overlook: square footage, utilities, training, quality control, staff turnover, and the operational risk of relying on one or two key people to keep the system running.

We also explore why this decision is not one-size-fits-all. For some practices, an in-house lab can be a profitable, high-quality, efficient part of the business. For others, outsourcing to a lab may reduce complexity, lower risk, and free the owner from one more system that has to be managed internally.

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

Resources:

Learn more about Partners in Profit

20/20 Money Episode: Edging In-House vs. Outsourcing: The Economics, Trade-offs, and Data an Optometric Practice Needs to Measure with Drs. Jennifer Stewart & Sam Hornberger

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 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