Tag

Valuation
11 Reasons To Celebrate Being An Optometrist Tired of all the bad news about optometry and healthcare?   If you believe everything you read in most of Optometry’s social media outlets, our world is coming to an end: too much competition, too much stress, too many OD’s, not enough compensation, yada, yada, yada. Here are eleven...
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“Hey John, Can you give me a ballpark figure on how much my practice is worth?” This is one of the most common questions I get asked as an appraiser.  Like most things, there is no quick and easy answer. Appraisers Use Rule of Thumb While some appraisers like to use rules of thumb such as one...
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7 Critical Questions When Buying a Practice You went to optometry school to be your own boss. If you’re like most new OD’s, you’ve spent some time working for someone else – either a corporate setting or private practice. Now you’re ready for the next step, and you hear about a practice for sale. Is...
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What Vision Therapy Can Add to Your Practice Vision Therapy (VT) may not be part of your practice today.  If you are considering retirement from your optometry practice, adding VT now opens up a stream of new patients and will enhance your practice value.  I want to thank Dr. Nathan Bonilla-Warford, OD for contributing this...
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Your Corporate Practice Value As baby boomers get ready to slow down and retire, I have been getting an increasing number of requests from OD’s who have practiced in retail settings to appraise their practices and help them with their exit strategy. What I have come to realize is that the retail optometry world is...
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It’s All About Your Net “It’s not what you make, it’s what you keep.” Too many OD’s, and all physicians, get caught up in how much they gross every year. The focus on top line performance and pay scant attention to the amount they take home. Typical Optometry Practice Net Profit Net profit is the...
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Patient Charts Equity Value In our last blog, we discussed how accounting offices commonly buy client records from each other. Here is how that works. Most commonly they pay only for those clients that actually transfer, typically 20% – 40% of the amount that they collect for that client. How Can This Work For Optometry?...
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The Value of Your Patient Charts A sometimes overlooked value of your practice are your patient charts. Just as you have equity in your equipment and inventory, so have you equity in your charts. Let’s look at an example. Appraisal for an Optometrist’s Widow I performed an appraisal recently for a widow whose OD spouse...
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