20/20 MONEY

Adam Cmejla
20/20 MONEY

20/20 MONEY, hosted by Certified Financial Planner and experienced Wealth Adviser Adam Cmejla, aims to bring clarity to financial concepts and strategies that impact optometrists. For more information on the show and on Adam, please visit https://www.integratedpwm.com/

  1. Another 20/20 Money Takeover - "Cold Start & Satellite Expansion Edition w/ Drs. Jeremy Ciano & Jennifer Stewart

    2 NGÀY TRƯỚC

    Another 20/20 Money Takeover - "Cold Start & Satellite Expansion Edition w/ Drs. Jeremy Ciano & Jennifer Stewart

    Welcome to this episode of 20/20 Money! My guests on today’s show are Drs. Jeremy Ciano & Jennifer Stewart. This is another 20/20 Money takeover, so while I usually will spend the introduction giving you a glimpse into what we talk about on the show, your guess is as good as mine about what this episode is about…since I just gave them the platform to talk about whatever was top of mind for them around the topic of cold starting & satellite expansion. Enjoy!!   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, and we have a link to that site right here in the show notes of this episode. While visiting the website, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.   And with that introduction, I hope you enjoy the show takeover conversation with Drs. Jeremy Ciano & Jennifer Stewart!!     Resources: 20/20 Money Membership Information   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

    1 giờ 5 phút
  2. Embezzlement in optometry practices: how it happens, who's likely to do it, and ways in which you can prevent it from happening w/ Dr. Bethany Fishbein, OD

    11 THG 11

    Embezzlement in optometry practices: how it happens, who's likely to do it, and ways in which you can prevent it from happening w/ Dr. Bethany Fishbein, OD

    Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Bethany Fishbein, OD, consultant and executive coach with Leaders of Vision. Bethany has been on the show many times in the past and today she joins us to talk about a topic that is admittedly harder and more distressing to talk about: embezzlement in optometry practices. In Bethany’s experience as a consultant having worked with many practices over the years, she’s unfortunately been privy to instances where embezzlement was happening. We talk about who’s likely to do it, what they’re likely to do, and small ways you can cross check the systems in your practice to ensure that you’re running a tight business.   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 monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.   And with that introduction, I hope you enjoy my conversation with Dr. Bethany Fishbein, OD.   Resources: 20/20 Money Membership Information   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!     ChatGPT Prompt/Answer Embezzlement in an optometry practice (or any healthcare setting) can occur in several ways due to the complex nature of transactions, including patient billing, insurance claims, and cash handling. Below are some realistic examples of how an employee might embezzle funds in an optometry practice:   ### 1. **Billing Fraud:**    - **Overcharging Insurance:** An employee could submit inflated insurance claims by increasing the cost of services or adding services that were never provided. They would then pocket the difference between the amount paid by the insurance company and the actual cost.    - **Phantom Patients:** Creating fake patient records and submitting claims for services or products (like glasses or contacts) that were never provided, then diverting the insurance reimbursement to themselves.   ### 2. **Skimming Cash Payments:**    - **Cash Payments Not Recorded:** If a patient pays in cash, an employee might record the visit as "invoiced" or "to be billed later" rather than marking it as paid. The employee then takes the cash and destroys or alters any record of the payment.    - **Under-reporting Receipts:** An employee could under-report the total cash collected at the end of the day, skimming small amounts regularly to avoid detection.   ### 3. **Inventory Theft:**    - **Selling Optical Inventory:** Employees could steal optical products (like glasses, contacts, frames, etc.) and resell them privately. Since optical products are high-margin items, this could go unnoticed if inventory management is lax.    - **Ordering Extra Supplies:** Over-ordering contact lenses, frames, or other supplies and then selling the excess or returning items to vendors for cash or personal store credit

    1 giờ 4 phút
  3. Rethinking your mindset around your team & delegation with Dr. Mike Neal, OD

    4 THG 11

    Rethinking your mindset around your team & delegation with Dr. Mike Neal, OD

    Welcome to this episode of 20/20 Money! My guest on today’s show is Mike Neal, OD. Mike joins me on the show to talk about something that we’ve indirectly talked about on various episodes in the past: delegation. Specifically, we talk about the mindset shift that happened for Mike when he started looking at his team as an investment in the business and the opportunity cost of him hanging onto so many trivial and administrative tasks in the practice…and what happened to him and his business when he let go of those items and focused his time on the best and highest impact activities in the practice.   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 monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.   And with that introduction, I hope you enjoy my conversation with Dr. Mike Neal, OD.   Resources: 20/20 Money Membership Information Atomic Habits Email us your best delegation task Bonus structures that work for non-OD team members w/ Dr. Michael Neal, OD

    58 phút
  4. Five ways optometry practice owners could be myopic in their ownership journey with Erich Mattei from Akrinos

    28 THG 10

    Five ways optometry practice owners could be myopic in their ownership journey with Erich Mattei from Akrinos

    Welcome to this episode of 20/20 Money! My guest on today’s show is Erich Mattei, founder of Akrinos. In this conversation, Erich and I discuss five specific concepts and ways that optometrists can make prudent business decisions in their practice and reduce the chances of making a strategic wrong decision.   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 monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.   And with that introduction, I hope you enjoy my conversation with Erich Mattei.   Resources: 20/20 Money Membership Information Akrinos   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

    1 giờ
  5. "Things that make you go 'What?!?" as a practice consultant w/ Jennifer Stewart

    21 THG 10

    "Things that make you go 'What?!?" as a practice consultant w/ Jennifer Stewart

    Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Jennifer Stewart, founder of the private practice Look New Canaan and OD Perspectives.   In this episode, we talk about two major themes that she’s observed over the years as she has consulted with both friends and colleagues. Whether it be an OD launching a cold start or trying to make decisions inside of an established practice, there are two reoccurring themes that she’s observed ODs doing that is causing them to make mistakes with some unfortunate financial and quality-of-life implications.   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 monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.   And with that introduction, I hope you enjoy my conversation with Dr. Jennifer Stewart.   Resources: 20/20 Money Membership Information Episode on Accountability Partners The Hedgehog Concept Extreme Ownership Who Not How The Impact Filter™

    1 giờ 5 phút
  6. Creating a StoryBrand framework for an optometry practice with Daniel Palmer

    14 THG 10

    Creating a StoryBrand framework for an optometry practice with Daniel Palmer

    Welcome to this episode of 20/20 Money! My guest on today’s show is Daniel Palmer, founder of Morether Creative, a Fractional CMO for optometrists nationwide.   In this conversation, we talk through and explain the Story Brand process and the SB7 framework. We talk about the common marketing mistakes that biz owners (not just ODs) make when it comes to marketing their brand, how to think of the SB7 framework through the patient experience, and some of the Next Best Steps that ODs can take based on our conversation. Daniel also shares a really impactful framework called the one-line story brand and how ODs can use this simple, 3-part framework to explain each part of the patient’s journey through the practice which ultimately demonstrates the value of the practice to the patient.   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 monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.   And with that introduction, I hope you enjoy my conversation with Daniel Palmer.   Resources: 20/20 Money Membership Information My StoryBrand Building a Story Brand (book)   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

    59 phút
  7. How leadership impacts practice success (and ways to improve your leadership skills) with Bethany Fishbein

    7 THG 10

    How leadership impacts practice success (and ways to improve your leadership skills) with Bethany Fishbein

    Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Bethany Fishbein, OD, Consultant & Executive Coach with Leaders of Vision. Bethany and I talk about a topic that an OD might not think about directly correlating to the financials of a practice: leadership skills. However, I believe that we quickly illustrate in our conversation how the things that negatively impact a practice’s profitability—staff turnover, patients not returning, and an overworked/overwhelmed owner just to name a few—are usually the symptoms of an underlying “disease:” an owner that has neglected to focus on improving their leadership skills and emotional intelligence. Throughout this conversation, Bethany shares practical ways for owners to take action and, at the end, shares a very easy Next Best Step that an owner/leader can take to make progress.   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 monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. Lastly, if you’re interested in learning more about the 20/20 Money Membership, a platform that we created to help ODs become “brilliant at the financial basics,” please check out the link in the show notes of this episode to learn more.   And with that introduction, I hope you enjoy my conversation with Dr. Bethany Fishbein, OD.   Resources: 20/20 Money Membership Information https://www.leadersofvision.com/leadershipEQ   Parenting with Love and Logic Podcast   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

    1 giờ 9 phút
  8. Bonus structures that work for non-OD team members w/ Dr. Michael Neal, OD

    30 THG 9

    Bonus structures that work for non-OD team members w/ Dr. Michael Neal, OD

    Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Michael Neal, OD. Michael joins me back on the show to discuss bonus structures that work for non-producing members of your team, and how they can be put together in a way that is advantageous to both the team member and the overall growth of the practice.     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 monthly “planning life on purpose” newsletter that’s filled with tips and ideas to help you plan your best life, on purpose. You can also set up a Triage conversation to learn a little bit more about how we serve in the capacity of a personal and professional CFO: helping OD practice owners around the country reduce their tax bill, proactively manage cash flow, and make prudent investment decisions both in and out of their practice to ultimately help them live their best life on purpose. You can also check out any number of additional free resources like our eBooks, blog posts, and on-demand webinars. Lastly, if you’re interested in learning more about the upcoming launch of the 20/20 Money Membership, please check out the link in the Resources to learn more about what we have in store for you!   And with that introduction, I hope you enjoy my conversation with Dr. Michael Neal, OD.     Resources: 20/20 Money Community Information Flights And Insights: https://www.youtube.com/watch?v=CHEtC0iyNMg How utilizing a streamlined hiring service can help save time and money by ensuring the right people are on the bus with Dr. Mike Neal, OD How a hyper-effective, right-fit team can increase your profitability: a follow up convo with Dr. Mike Neal, OD   ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify Google Podcasts Stitcher  ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!

    1 giờ 2 phút
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Giới Thiệu

20/20 MONEY, hosted by Certified Financial Planner and experienced Wealth Adviser Adam Cmejla, aims to bring clarity to financial concepts and strategies that impact optometrists. For more information on the show and on Adam, please visit https://www.integratedpwm.com/

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