Are you building wealth...or just feeding the machine?? A conversation with Nathan Hayes on investing capital in your practice
20/20 MONEY: The Business of Optometry
Release Date: 06/01/2026
Your Practice Doesn’t Need More of Your Time — It Needs Better Use of It with Nathan Hayes
20/20 MONEY: The Business of Optometry
What if the next level of your practice requires less time in the lane — not more? In this episode of 20/20 Money: The Business of Optometry, I’m joined again by Nathan Hayes for a wide-ranging conversation about how practice owners should think more intentionally about their most limited resource: time. We pick up where our last conversation left off and explore what it really means to work on the business, not just in it. Nathan and I discuss why growth is not always linear, why some seasons of ownership are meant for building while others are meant for harvesting, and how owners...
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A simple introduction to AI for optometry practice owners: a practical conversation with Dr. Mick Kling
20/20 MONEY: The Business of Optometry
AI can feel overwhelming, overhyped, and impossible to keep up with — especially when every conversation seems to swing between “this changes everything” and “this is all just noise.” In this episode of 20/20 Money, I’m joined once again by Dr. Mick Kling for a practical conversation about where AI is actually useful for practice owners right now — without the doom-and-gloom, hype, or technical jargon. Mick shares how he’s been thoughtfully experimenting with AI inside his own workflows to improve efficiency, analyze practice financials, model business decisions, and...
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Optical isn't dead - but the way you are running it is with Dr. Jennifer Stewart
20/20 MONEY: The Business of Optometry
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...
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Why some dry eye practices thrive--and others quietly fail with Dr. Chris Wolfe
20/20 MONEY: The Business of Optometry
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...
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Implementing a profitable Medicaid practice into your local school district: a convo with Dr. Ryan Hansen
20/20 MONEY: The Business of Optometry
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...
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A blueprint for scaling your practice (while having a life in the process): unpacking Eyecare B.O.S.S. with Eugene Shatsman
20/20 MONEY: The Business of Optometry
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...
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Are you building wealth...or just feeding the machine?? A conversation with Nathan Hayes on investing capital in your practice
20/20 MONEY: The Business of Optometry
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...
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Making These Merchandising Mistakes is Costing You Tens of Thousands of Dollars: An Optical Conversation with Kayla Ashlee
20/20 MONEY: The Business of Optometry
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...
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Practice financing decoded: what owners need to know now about how banks think about deals
20/20 MONEY: The Business of Optometry
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,...
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How great practice owners build teams that stay and perform
20/20 MONEY: The Business of Optometry
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...
info_outlineWhat 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:
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Why more equipment does not automatically mean a more valuable practice
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The hidden opportunity cost of continually reinvesting back into the business
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How enterprise value is actually created in an optometry practice
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The difference between spending, investing, and simply staying operational
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Why patient flow and schedule utilization matter more than most owners realize
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The role marketing can play in growing enterprise value versus buying more technology
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How practice owners should think about free cash flow after taxes, debt service, and reserves
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The dangerous feedback loop created by depreciation-driven purchasing decisions
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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:
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
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The Optometry Success Podcast
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