The How and Why of Having an Accountability Partner as an Optometrist with Drs. Jennifer Stewart and Jeremy Ciano
Release Date: 05/04/2020
From blank to bank: How a $35 lens becomes a $525 sale by finishing in-house with Dr. Mike Satryan, OD
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Welcome to this episode of 20/20 Money. My guest on today's show is Dr. Mike Satryan, OD, a partner with in Altoona, PA. Mike is a long-time practice owner who brings over 25 years of experience running an in-house optical lab within their practice. We dive into the substantial cost savings his practice has realized by finishing lenses on-site and how that margin improvement supports a compensation model tied to gross revenue growth. We explore how having an in-house lab not only boosts profitability but also enhances second-pair and annual contact lens supply conversions, thanks in...
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The home loan balancing act: smart mortgage moves for optometry practice owners with Lee Raykovicz, OD
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Welcome to this episode of 20/20 Money! My guest on today's show is Lee Raykovicz, OD, a mortgage broker with Go Rascal Mortgages. On today's episode we dive into what goes into the mortgage underwriting process, how practice owners can get creative when it comes to purchasing their homes, the details on what Physician loans actually are and how they work, how to think about the total DTI ratio when thinking about your mortgage & student loans, and ARM strategy ideas in today's rate environment. As a reminder, you can get all the information discussed in today’s...
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REWIND: 3 financial lessons learned from my grandpa and grandma that can shape your relationship with money
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Welcome to this REWIND episode of 20/20 Money! Given that my grandpa just recently celebrated his 96th birthday, I wanted to bring back this episode and share it again for new and long-time listeners alike. It's also a subtle reminder about the importance of understanding longevity risk in one's financial plan. I can only imagine the unfortunate situation my grandpa would be in had he and my grandma not had a sound investment strategy that has allowed them to build up a portfolio that has lasted the entirety of his retirement. On this episode, I wanted to share a bit of a personal story...
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Schedule management, pre-appointing, & the importance of listening to your practice w/ Dr. Chris Wolfe, OD
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Welcome to this episode of 20/20 Money! My guest on today's show is Dr. Chris Wolfe, OD. Chris joins me back on the show to talk about why it's important to be intentional about the business decisions you make in your practice and make those decisions based on data and a plan. We talk about this concept through the lens of schedule management and how to think about pre-appointing your patients within a practice, and it's in part based off some listener feedback that I received almost a year ago. As a reminder, you can get all the information discussed in today’s...
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Increasing optical sales using influential communication with Kayla Ashlee (live on location from BCDO)
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Welcome to this episode of 20/20 Money! My guest on today's show is . Kayla joins me on the show to discuss how the communication cues (or miscues) that unknowingly are happening in your office can be both positively or negatively impacting your patient experience and thus influencing the buying decisions of your patients. She shared examples of good and not-so-good cues that can be happening across the patient journey—from the moment the patient comes into your office all the way through their optical buying experience. This was a very enjoyable and timely conversation given the...
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Let's RAGE!!! (a Rant Against Growth Excuses) with Nathan Hayes
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Welcome to this episode of 20/20 Money! My guest on today’s show is Nathan Hayes with On this show, Nathan and I RAGE!! That's right, we Rant Against Growth Excuses. We talk about the common headwinds, obstacles, and challenges that we both hear when talking with practice owners...and how to think about solving those issues by thinking differently about the challenges. As a reminder, you can get all the information discussed in today’s conversation by visiting our website at and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on...
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Live from NSUOCO: Top 10 Tips for (Financial) Success for Optometrists
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Welcome to this episode of 20/20 Money! This week's episode is the recording of my presentation at NSUOCO, titled "Top 10 Tips for (Financial) Success for Optometrists." Over the course of the year, I'm privileged to present in front of a variety of optometry schools' private practice clubs and classes. The purpose of the presentation is to help ODs understand the ABCs and 123s of personal finance and how to better understand the business of optometry so that, upon graduation, they are able to make educated and informed decisions about their money. Given that the content and lessons are...
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My Frankenstein practice: how I would assemble the perfect optometry practice
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Welcome to this episode of 20/20 Money! What would I do if I were starting an optometric practice from the ground up? A listener posed the question—and I went deep. In this episode, I walk through everything from choosing the right location (hint: geography is everything) to building the skills that matter most when you’re just getting started. We cover: Why defining your Ideal Patient Avatar (IPA) is mission-critical The underrated value of sales coaching and communication training Why I’d buy a small-town practice instead of cold-starting in suburbia The non-negotiables...
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Can we PLEASE agree on some numbers (and the KPIs that influence them)??
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Welcome to this episode of 20/20 Money! In this episode, we tackle the confusion around key financial numbers in your optometric practice and why it’s critical to have a common understanding of their definitions. From gross COLLECTED revenue, cost of goods sold, and net operating income, we explore the most important KPIs that influence your bottom line. Whether you’re looking to grow, improve efficiency, or just understand your business better, this conversation will help you create a clearer, more actionable financial dashboard. We dive into: Why “collections” and...
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An update on Taxes 101: Understanding tax brackets, deductions, and credits for optometric practice owners
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Welcome to this episode of 20/20 Money! In today’s episode, we’re diving into the details of your tax return—beyond just whether you got a refund. We’ll break down the difference between deductions and credits, how our tax brackets work, why you should focus on Line 24—your total tax paid—instead of Lines 34 or 37, and what Line 38 might be telling you about penalties and interest. We’ll also highlight common areas for errors, clarify how the QBI deduction applies depending on your income level, and walk through important forms like Form 8960 for NIIT cancelation, Form 8889 for...
info_outlineHello, and welcome to this episode of 20/20 Money! My guests on today’s show are Drs. Jeremy Ciano and Jennifer Stewart. Longtime listeners of the show will recognize those names as I’ve had them both on a number of times in both 1-1 interviews as well as a three-way discussion. I respect both of their opinions and perspective as they both run highly successful practices, and that success does not come by accident.
Jennifer and Jeremy join me in today’s conversation to discuss accountability as a business owner. As practice owners, it can be sometimes be hard to set and maintain goals that we set for ourselves. Because there’s no one other than ourselves truly holding us accountable to our goals, it can be easy to slip into a sense of complacency or lose focus on where one needs to “move the needle” in their practice. Jennifer and Jeremy talk about where to find an accountability partner and how to make accountability work for everyone involved, some of the areas of their practice that they hold each other accountable, the frequency with which they check in and how they tie their frequent accountability check-ins to their long-term goals.
I’m a firm believer in having an accountability partner and I hope you enjoy this episode and that it empowers you to find someone or a small group to collective help everyone achieve more. Progress, growth, and thus profitability happen when you stay focused on your KPIs in your 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, you can also set up a 20-30min Discovery conversation to learn a little bit more about what it means to work with our firm, how we serve ODs around the country, or check out any number of additional free resources like our eBooks and on-demand webinars.
And with that introduction, I hope you enjoy my conversation with Jeremy Ciano and Jennifer Stewart.
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