20/20 MONEY: The Business of Optometry

Adam Cmejla

20/20 Money is the top podcast for optometrists, private practice owners, and ODs who want to master optometry practice management, financial planning, and long-term business strategy. Hosted by Adam Cmejla, CFP®, the show delivers practical guidance on everything that affects the profitability, growth, and value of your optometry practice. Episodes cover: • Optometry practice management & operations • Financial planning for optometrists • Practice growth strategies & profitability tips • Selling your practice & OD exit planning • Private equity deals in optometry • Hiring, leadership, and team development • Tax planning, cash flow, and retirement readiness • Student loan strategies for ODs • Cold starts, acquisitions, and multi-location scaling With expert interviews, case studies, and step-by-step breakdowns, you'll learn how to make smarter business decisions, build personal wealth, and create a thriving career inside and outside the exam room. If you're an OD serious about elevating your practice and improving your financial future, 20/20 Money is your competitive advantage. For more information on the show and on Adam, please visit https://www.integratedpwm.com/

  1. 4 days ago

    AI can save you time. Don't waste what it gives back.

    AI might save you hours every week—but if you simply fill that time with more work, have you actually gained anything?   In this episode, Dr. Steve Vargo joins me to discuss his new book, Human-Centered AI, and why the biggest opportunity AI presents to practice owners isn't necessarily the technology itself—it's what we choose to do with the time it gives back.   We discuss using AI as a strategic thought partner rather than a decision-maker, why asking AI to interview you can lead to better thinking, and where human judgment, context, and connection remain irreplaceable.   We also explore burnout, the value of having a sounding board when making difficult decisions, and why getting time back only matters if we're intentional about what we do with it.   Our NBSs: Check out Steve's new book, Human-Centered AI, and then deliberately block time on your calendar for thinking and reflection. Identify an area of your practice or life that needs attention and give yourself the space to work on it.   Because AI may be able to give you time back. What you do with that time is still up to you.   Have a podcast-related question? Contact our team here!   Resources: The Eisenhower Matrix Eye Own A Business Podcast Episode: How to Get 10 Hours a Week Back with AI (And What to Do with Them) WhisprFlow Book a Triage call with Adam Download the Practice Owner's Financial Toolkit 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Check out Adam's book: How to Buy an Optometry Practice Check out Dr. Steve Vargo's new book: Human-centered AI   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!   Check out Adam's other podcast! The Optometry Success Podcast  Subscribe on Apple Podcasts: https://bit.ly/4tttng6 Subscribe on Spotify: https://bit.ly/4tuf0YM

  2. 2 Nov

    Optometrists make good money. So why aren't they wealthier?

    Optometrists earn good incomes—so why does the profession's median net worth tell a very different story?   In this episode of 20/20 Money: The Business of Optometry, I'm joined again by Dr. Chris Lopez to unpack findings from the latest ODs on Finance financial survey, which gathered responses from nearly 2,000 optometrists.   We dig into the numbers behind OD income, student loan debt, net worth, and practice ownership—and, more importantly, what those numbers actually mean for the financial decisions optometrists make throughout their careers.   Chris and I discuss why a strong income doesn't automatically translate into wealth, the long-term ripple effects of graduating with $300,000+ of student loan debt, and the significant income and net-worth differences the survey found between associates and the highest-earning practice owners.   But the data also raises an important question: just because ownership offers greater financial upside, does that mean every optometrist should own a practice?   We talk candidly about the parts of ownership that don't show up in the income statistics—the stress, leadership responsibilities, late nights, personnel decisions, and loss of simplicity that come with running a business. Sometimes being a highly compensated associate with more control over your time may actually be the better outcome.   Our NBS: What gets measured gets managed, and what gets managed improves. Identify the financial outcome you're trying to change, define what success actually looks like, and determine the lever you can pull to move in that direction. And if you don't know how to pull that lever yourself, find the person, community, or resource that can help you do it.   Listen in for a data-driven—and very human—conversation about what it really means to build a successful financial life in optometry.   Have a podcast-related question? Contact our team here!   Resources: ODsonF 2026 Income Report Book a Triage call with Adam Download the Practice Owner's Financial Toolkit 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Check out Adam's book: How to Buy an Optometry Practice ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!   Check out Adam's other podcast! The Optometry Success Podcast  Subscribe on Apple Podcasts: https://bit.ly/4tttng6 Subscribe on Spotify: https://bit.ly/4tuf0YM

  3. 26 Oct

    Rewind: Lying in plain sight: identifying errors in your practice financials with Hayley Stewart

    Welcome to this episode of 20/20 Money! My guest on today's show is Hayley Stewart. Hayley is the Financial Services Manager for IDOC and predominately focuses her time and expertise on bookkeeping services for IDOC clients. Hayley joins the show to talk about the importance of bookkeeping in practices and how to properly ensure that your books are accurate. We spend a lot of time talking about items that are reported on the balance sheet and specifically talk about why it's important to understand the relationship of your retained earnings and your net income.   As a reminder, you can get all the information discussed in today's conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a 20-30min Triage conversation to learn a little bit more about how we help ODs around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Hayley Stewart. Have a podcast-related question? Contact our team here!   Resources:   Books & Benchmarks' 2025 annual report Books & Benchmarks Book a Triage call with Adam Download the Practice Owner's Financial Toolkit 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Check out Adam's book: How to Buy an Optometry Practice   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!   Check out Adam's other podcast! The Optometry Success Podcast  Subscribe on Apple Podcasts: https://bit.ly/4tttng6 Subscribe on Spotify: https://bit.ly/4tuf0YM

  4. 19 Oct

    Rewind: Simple Numbers, Straight Talk, Big Profits with Greg Crabtree

    Welcome to this episode of 20/20 Money! My guest on today's show is Greg Crabtree, CPA.   Greg is the author of two of my favorite books about running a business and using the numbers of your business to make informed decisions (Simple Numbers, Straight Talk, Big Profits and Simple Numbers 2.0: Rules for Smart Scaling). He's also the Partner in Charge in the Huntsville, AL office of Carr, Riggs, and Ingram and I was excited to chat with him about the concepts he talks about in his book. We talk about cash reserves in your business, the 4 forces on cash flow and the importance of starting with profitability, the lies that business owners tell themselves through their financials, why meal periods are important to him, and why the rolling 12 month financial report is so much more important than YTD.   As a reminder, you can get all the information discussed in today's conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, be sure to subscribe to our newsletter and you can also set up a 20-30min Triage conversation to learn a little bit more about how we help OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions to help them live their best life on purpose or check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars.   And with that introduction, I hope you enjoy my conversation with Greg Crabtree.   Have a podcast-related question? Contact our team here!   Resources:   Books & Benchmarks' 2025 annual report Books & Benchmarks Book a Triage call with Adam Download the Practice Owner's Financial Toolkit 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Check out Adam's book: How to Buy an Optometry Practice   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!   Check out Adam's other podcast! The Optometry Success Podcast  Subscribe on Apple Podcasts: https://bit.ly/4tttng6 Subscribe on Spotify: https://bit.ly/4tuf0YM

  5. 12 Oct

    Practice benchmarks update: what your practice numbers are really telling you about growth, overhead, & profitability

    In this episode of 20/20 Money: The Business of Optometry, I'm joined by Nathan Hayes of Books & Benchmarks to go over their recently updated benchmarks analysis and unpack what the latest optometry practice data says about growth, overhead, and profitability. We discuss why a benchmark is a starting point, not a verdict on your practice, and why rising expense ratios may call for a closer look at revenue rather than an immediate round of cuts.   We also talk about the difference between profit and cash you can take home, how equipment purchases affect the balance sheet, and what your numbers may reveal about staffing, patient capacity, and collections. Nathan shares how he uses financial statements alongside an owner's account of what's happening in the practice to identify where attention is needed.   Have a podcast-related question? Contact our team here!   Resources:   Books & Benchmarks' 2025 annual report Books & Benchmarks Book a Triage call with Adam Download the Practice Owner's Financial Toolkit 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Check out Adam's book: How to Buy an Optometry Practice   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!   Check out Adam's other podcast! The Optometry Success Podcast  Subscribe on Apple Podcasts: https://bit.ly/4tttng6 Subscribe on Spotify: https://bit.ly/4tuf0YM

  6. 5 Oct

    Good, fast, cheap: why you probably can't have all three

    The most expensive professional service may not be the one with the highest price—it may be the one you mistakenly thought was a great deal.   In this episode of 20/20 Money: The Business of Optometry, I explore the familiar idea of "good, fast, and cheap: pick two" and applies it to the professional services optometric practice owners rely on every day.   It's easy to compare prices. It's much harder to compare value—especially when you're hiring an attorney, financial advisor, consultant, accountant, IT provider, or other professional precisely because they possess expertise you don't.   That's the paradox: the reason you need the professional may also be the reason you're not qualified to judge the quality of their work.   I discusses why dramatically lower pricing shouldn't automatically be viewed as either a red flag or a great deal, why practice owners should instead ask how the economics of the provider's business model work, and what may be exchanged for a lower price. He also shares practical ways to pressure-test professional advice without becoming an expert yourself, including asking what alternatives were considered, where a recommendation could go wrong, how work is reviewed, and when a second opinion may make sense.   Because price is what shows up on the invoice. Cost is what the decision ultimately takes out of your pocket—and your calendar.   NBS: Choose one high-consequence professional relationship in your personal or professional life and pressure-test it. Ask what alternatives were considered, what could cause the recommendation to fail, how the work is reviewed, and whether the stakes justify getting a second qualified set of eyes. You don't need to become the expert—you need to become a better buyer of expertise.   Resources: Book a Triage call with Adam Download the Practice Owner's Financial Toolkit 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Check out Adam's book: How to Buy an Optometry Practice   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!   Check out Adam's other podcast! The Optometry Success Podcast  Subscribe on Apple Podcasts: https://bit.ly/4tttng6 Subscribe on Spotify: https://bit.ly/4tuf0YM

  7. 28 Sept

    The problems success doesn't solve

    What does it really take to build and lead a successful multi-location optometry practice? In this episode of 20/20 Money, I'm joined by Dr. Andy Yaryan, Dr. Jeni Kohn, and Dr. Patrick Curran, three experienced practice owners who offer an honest look at what is happening beneath the surface of a growing practice. We discuss the challenges that remain even after achieving visible success, including rising expenses, staffing and culture, shrinking margins, associate recruitment, and the danger of becoming complacent.   We also explore how each owner evaluates investments in the practice, why the desired return is not always financial, and how priorities can shift from maximizing income to creating more time and freedom. Our conversation covers the metrics they watch most closely, from operating profit and staff costs to new-patient growth, retention, and revenue-cycle management, as well as the importance of building strong leaders, delegating effectively, and having difficult conversations before unresolved issues begin affecting the entire team.   Finally, Andy, Jeni, and Patrick share some of the lowest points in their ownership journeys and what helped them move forward. Their experiences are an important reminder that sustainable success rarely looks as effortless from the inside as it does from the outside, and that practice ownership requires continued learning, honest self-evaluation, and the willingness to keep working through difficult seasons.   Have a podcast-related question? Contact our team here!   Resources: Book a Triage call with Adam Download the Practice Owner's Financial Toolkit 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Check out Adam's book: How to Buy an Optometry Practice Yaryan Eye Care Center — Dr. Andy Yaryan Moses EyeCare Centers — Dr. Jeni Kohn Johnson Curran Optometry Centers — Dr. Patrick Curran The 7 Habits of Highly Effective People by Stephen R. Covey Multiplication by Subtraction by Shannon Waller and Jayne Stymiest   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!   Check out Adam's other podcast! The Optometry Success Podcast  Subscribe on Apple Podcasts: https://bit.ly/4tttng6 Subscribe on Spotify: https://bit.ly/4tuf0YM

  8. 21 Sept

    Before you write the check, prove the problem first

    The most expensive mistake in your practice might be solving a problem you never proved existed.   Dr. Jen Stewart joins me back on the show for a conversation about making better decisions before writing the check. Inspired by Jim Collins' concept of "firing bullets, then cannonballs," we explore why practice owners should test assumptions, gather evidence, and understand what success actually looks like before committing significant money or resources to a decision.   One idea kept resurfacing throughout our conversation: more isn't better; better is better.   Before you hire another employee, buy another piece of equipment, or sign a lease on more space, ask yourself: What am I solving for? In service of what? At the cost of what? And perhaps most importantly: What would it take to get a better result with what I already have?   NBS (Next Best Step): Identify one "cannonball" you're currently considering in your practice. Before committing to it, write down the problem you believe it solves and identify one or two smaller, lower-cost experiments you can run to prove the problem—and the solution—before writing the check.   Have a podcast-related question? Contact our team here!   Resources: 20/20 Money: The Business of Optometry Episode: Optical Isn't Dead, but The Way You Are Running It Is with Dr. Jennifer Stewart 20/20 Money: The Business of Optometry Episode: Edging In-House vs Outsourcing: The Economics, Trade-Offs, and Data An Optometric Practice Needs to Measure with Drs. Jennifer Stewart, OD & Sam Hornberger, OD 20/20 Money: The Business of Optometry Episode: Why some dry eye practices thrive-and others quietly fail with Dr. Chris Wolfe 20/20 Money: The Business of Optometry Episode: Improving your practice by tracking the right KPIs (and ignoring the wrong ones) with Nathan Hayes 20/20 Money: The Business of Optometry Episode: Why focusing on "profit" in your optometry practice might not be the most effective owner metric to measure (and which ones you SHOULD focus on) with Nathan Hayes of Books & Benchmarks 20/20 Money: The Business of Optometry Episode: Making sense of your practice financials (profit/loss, balance sheet, and cash flow statement) with Nathan Hayes of IDOC Book a Triage call with Adam 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     ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!   Check out Adam's other podcast! The Optometry Success Podcast  Subscribe on Apple Podcasts: https://bit.ly/4tttng6 Subscribe on Spotify: https://bit.ly/4tuf0YM

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About

20/20 Money is the top podcast for optometrists, private practice owners, and ODs who want to master optometry practice management, financial planning, and long-term business strategy. Hosted by Adam Cmejla, CFP®, the show delivers practical guidance on everything that affects the profitability, growth, and value of your optometry practice. Episodes cover: • Optometry practice management & operations • Financial planning for optometrists • Practice growth strategies & profitability tips • Selling your practice & OD exit planning • Private equity deals in optometry • Hiring, leadership, and team development • Tax planning, cash flow, and retirement readiness • Student loan strategies for ODs • Cold starts, acquisitions, and multi-location scaling With expert interviews, case studies, and step-by-step breakdowns, you'll learn how to make smarter business decisions, build personal wealth, and create a thriving career inside and outside the exam room. If you're an OD serious about elevating your practice and improving your financial future, 20/20 Money is your competitive advantage. For more information on the show and on Adam, please visit https://www.integratedpwm.com/

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