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. 59m ago

    Optical isn't dead - but the way you are running it is with Dr. Jennifer Stewart

    What if the biggest reason patients aren't buying glasses from your practice… is the experience you've unintentionally created around optical? In this episode of 20/20 Money, I'm joined once again by Dr. Jennifer Stewart for a candid and energetic conversation around the subtle — and sometimes overlooked — ways practice owners can dramatically improve optical sales without feeling "salesy."   Jen shares how she's intentionally built an optical-forward patient experience that turns eyewear into something patients genuinely get excited about, why most practices unknowingly make optical feel transactional and overwhelming, and how small shifts in attention, storytelling, and intentionality can completely change patient behavior. We also explore the mindset many owners have around optical being a "dead" profit center, why that belief becomes self-fulfilling, and practical ways to start taking ownership back without blowing up your entire practice model.   We also discuss: Why patients asking "what glasses are those?" is a bigger opportunity than most doctors realize How Jen strategically uses her own eyewear to influence frame and lens sales The hidden danger of treating optical like a commodity business Why practices often lose optical sales long before price ever becomes the issue How to think about your optical as a separate business within your practice The importance of creating a shopping experience instead of a transactional one Why independent frame lines and storytelling matter more than recognizable brands Practical first steps for owners who feel overwhelmed or frustrated with optical   As always, we end the conversation with several practical NBSs (Next Best Steps) you can implement immediately in your practice.   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 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

    55 min

  2. Jun 22

    Why some dry eye practices thrive--and others quietly fail with Dr. Chris Wolfe

    What if the biggest mistake practice owners make with dry eye isn't buying the wrong technology… but building their entire strategy around the technology itself? In this episode of 20/20 Money, I'm joined once again by Dr. Chris Wolfe for a fascinating conversation around dry eye, specialty services, patient communication, and the dangerous trap of becoming "device-centric" instead of patient-centric.   Chris shares a candid behind-the-scenes perspective on what he's observed from practices across the country when it comes to implementing dry eye services and expensive treatment technologies. We discuss why so many practices buy devices that ultimately underperform, the seductive marketing around "specialty" care, and the critical distinction between having a widget versus building a system that actually supports patient outcomes and practice profitability.   More importantly, we explore how the most successful clinicians aren't simply better at selling treatment — they're better at understanding the doctor-patient relationship, evidence-based medicine, and how to guide patients toward the right next step without overwhelming them.   We also discuss: Why many dry eye devices end up becoming expensive dust collectors The hidden problem with building your identity around a piece of equipment How patient communication dramatically impacts treatment acceptance Why separating the dry eye conversation from the comprehensive exam changes outcomes The difference between being "widget-centric" and patient-centric How successful practices build systems around disease management instead of technology Why evidence-based medicine involves more than just clinical studies The role patient preference plays in treatment recommendations How practices can objectively evaluate whether a new device will actually support profitability   As always, we close the conversation with practical NBSs (Next Best Steps) to help practice owners think more intentionally about specialty services, technology adoption, and patient care systems inside their practice.     Have a podcast-related question? Contact our team here!   Resources: Dr. Cecelia Koetting Dr. Selina McGee Dr. David Kading Dr. Kyle Klute Are you building wealth...or just feeding the machine (20/20 Money Episode with Nathan Hayes) 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

    45 min

  3. Jun 15

    Implementing a profitable Medicaid practice into your local school district: a convo with Dr. Ryan Hansen

    What if serving Medicaid patients wasn't a drain on your practice… but one of the most efficient and fulfilling business models in optometry? In this episode of 20/20 Money, I'm joined by Dr. Ryan Hansen to discuss a truly unique model he's built inside a public school district that provides eye care exclusively to children on Medicaid — while still creating a financially viable and highly efficient practice structure.   Ryan shares how he operates a school-based satellite clinic inside the Rockford public school system, why the traditional "either/or" mindset around Medicaid and profitability may be flawed, and how he's leveraged simplicity, delegation, and strategic partnerships to create a practice that serves an incredible need in his community. We also unpack the emotional realities of caring for underserved populations, the operational logistics of working within a school district, and the surprising economics behind a model many ODs assume can't work.   We also discuss: How Ryan sees up to 16 pediatric Medicaid patients in just a few hours each morning Why low overhead dramatically changes the Medicaid profitability equation The logistics of scheduling, transportation, and dispensing glasses through the school system The role school nurses and principals play in making this model successful Why many children who "pass" school screenings still desperately need glasses The hidden challenges of working with Medicaid reimbursement and bureaucracy How this model creates remarkable work-life balance and flexibility What optometrists should consider if they want to explore a similar partnership in their own communities   As always, we close the conversation with practical NBSs (Next Best Steps) for listeners who may want to explore opportunities like this in their own school districts and communities.     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 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

    44 min

  4. Jun 8

    A blueprint for scaling your practice (while having a life in the process): unpacking Eyecare B.O.S.S. with Eugene Shatsman

    Why do so many optometric practices hit a ceiling in their practice? We know it's not because the owner isn't working hard enough, so what is it? It's because the business was never designed to scale in the first place. Eugene Shatsman joins me back on the show to talk about the ceiling practice owners inevitably hit in their practice—and a system he's created to help owners break through it. In our conversation, we discuss the systems and frameworks behind building a more intentional, scalable practice, including the five operational pillars Eugene believes every successful practice must manage well. We also talk about the hidden KPIs that quietly hurt profitability, how to create stronger accountability within your team, and why elevating the patient experience from transactional to consultative can dramatically improve both growth and practice value.   Resources: Eyecare BOSS (Pre-order Eugene's book, The EyeCare Boss on their website!) 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

    53 min

  5. Jun 1

    Are you building wealth...or just feeding the machine?? A conversation with Nathan Hayes on investing capital in your practice

    What if one of the biggest financial mistakes practice owners make is confusing "spending money in the practice" with actually investing in it? In this episode, I'm joined once again by Nathan Hayes for a thoughtful and nuanced conversation around reinvesting in your practice, opportunity cost, and the hidden tradeoffs owners often overlook when deciding what to do with excess cash flow.   We explore the mindset many owners have that every dollar spent on equipment, technology, or expansion automatically creates enterprise value — and why that assumption can quietly create long-term financial consequences if it's never challenged. Nathan and I unpack the difference between true investment versus simply adding expense, how owners should think about ROI inside the practice compared to investing outside the practice, and why many of the highest-value drivers in a business have nothing to do with buying another piece of equipment. We also discuss: Why more equipment does not automatically mean a more valuable practice The hidden opportunity cost of continually reinvesting back into the business How enterprise value is actually created in an optometry practice The difference between spending, investing, and simply staying operational Why patient flow and schedule utilization matter more than most owners realize The role marketing can play in growing enterprise value versus buying more technology How practice owners should think about free cash flow after taxes, debt service, and reserves The dangerous feedback loop created by depreciation-driven purchasing decisions Why many owners underestimate the value of investing outside the practice   As always, we close the conversation with practical NBSs (Next Best Steps) to help owners think more intentionally about capital allocation decisions both inside and outside their practice.     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 new book: How to Buy an Optometry Practice Four Levers in Retirement IDOC Simple Numbers, Straight Talk, Big Profits! Simple Numbers, Straight Talk, Big Profits with Greg Crabtree   ————————————————————————————— 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

    56 min

  6. May 25

    Making These Merchandising Mistakes is Costing You Tens of Thousands of Dollars: An Optical Conversation with Kayla Ashlee

    Most optometric practice owners have no idea how much money they're quietly losing in their optical simply because of merchandising, layout, and the conversations happening—or not happening—between staff and patients.   Welcome to this episode of 20/20 Money: The Business of Optometry. My guest on today's show is Kayla Ashlee. Kayla joins me on the show to talk about the subtle but incredibly powerful levers that influence buying behavior inside the dispensary and why the difference between a thriving optical and an average one often has less to do with pricing and more to do with psychology, presentation, and process.   In our conversation, we discuss the difference between optician-led versus patient-led frame selections, why many owners underestimate the power of suggestion in the optical, and how practices may be unintentionally leaving revenue on the table simply through the way eyeware is presented.. We also talk about practical merchandising strategies that can materially influence capture rate and optical performance without adding more patients to the schedule.   Resources: MassGeneral cafeteria experiment "You will read this first" image 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 Checkout all the benefits of becoming a Spexy Member at www.spexy.co Use code 2020money to get your first month of Spexy+ Premium for $1 at checkout. ————————————————————————————— 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

    1h 2m

  7. May 18

    Practice financing decoded: what owners need to know now about how banks think about deals

    Thinking about buying or expanding a practice, but nervous about debt, banks, or making an expensive mistake?   In today's episode, I'm joined by Mike Smith of Bank of America to demystify the lending process for optometrists. We break down what banks actually look for in a borrower, how student loans and cash reserves really factor in, why tax returns matter more than stories, and the common traps buyers and sellers fall into when financing a deal. If utilizing OPM, other peoples' money like a bank's, is on your radar (now or in the future), this conversation can save you time, money, and unnecessary stress.     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 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

    1h 4m

  8. May 11

    How great practice owners build teams that stay and perform

    What if the biggest threat to your practice isn't reimbursement, competition, or overhead—but the way you hire, lead, and retain people?   In today's episode, I'm joined by Mike Dixon, president of Hoops, for a conversation every practice owner needs to hear. We unpack why staffing issues feel so hard, why most owners were never trained to lead, and how the right systems can turn your team from your biggest headache into your greatest competitive advantage. If you've ever said, "I just can't find good people," this episode may challenge the way you think about the real problem—and the real opportunity.   Resources: FEAR Setting Exercise from Tim Ferriss HoopsHr.com 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

    47 min
See All (400)

4.9
out of 5
84 Ratings

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/

Information

You Might Also Like