Inside the Mindset and Methods of a Multi-Million dollar, single OD practice w/ Dr. Jeremy Ciano
Release Date: 01/21/2019
5 common decisions that prevent ODs from achieving financial independence
20/20 MONEY
Welcome to this episode of 20/20 Money. In the spirit of Independence Day, today’s episode explores a different kind of freedom—financial independence—and the common decisions that often stand in the way of achieving it. I walk through five recurring mistakes I see optometric practice owners make that limit their long-term financial freedom, both personally and professionally. From overleveraging and ignoring balance sheets to misjudging the impact of time and delaying planning altogether, these decisions can quietly undermine your goals. My hope is that this episode prompts you...
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ANOTHER 20/20 Takeover: Your favorite KPIs (and why?!) w/ Drs. Jennifer Stewart, OD & Jeremy Ciano, OD
20/20 MONEY
Welcome to this episode of 20/20 Money! My guests on today's show are my two good friends—and successful practice owners—Drs. Jeremy Ciano and Jennifer Stewart, OD. This is another takeover episode, so I'm honestly not sure where they'll take the conversation. The only direction I gave them was the title of the episode, so I'm just as curious as you are as to where the conversation will lead! 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...
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The delegation journey...and why every practice owner should be on it! with Dr. Michael Neal, OD
20/20 MONEY
Welcome to this episode of 20/20 Money. My guest on today’s show is Dr. Michael Neal, OD. Mike joins me on the show to talk about the evolution of delegation as a practice owner—specifically, the journey of learning to trust your team with everything outside of your core revenue-producing activities. We share our own experiences with delegation, what it looked like early on, how our thinking evolved, and the impact it’s had on our ability to focus on our Unique Abilities™ and lead more effectively. As a reminder, you can get all the information discussed in today’s...
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Using data to determine the best location for your practice with Mike Jorgenson from Carr Healthcare Realty
20/20 MONEY
Welcome to this episode of 20/20 Money! My guest on today's show is Mike Jorgenson from Mike joins me back on the show to talk about what goes into a demographics search when evaluating the location of a practice—and he does it from both a cold start as well as existing practice's point of view. We talk about the minimum OD:population ratio that's generally advisable when setting up or buying a practice and other details as it pertains to the factors that influence the demographics of a practice's location. Our conversation then transitions into, well...practice transitions! Whether...
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The power of community, stopping the "race to the bottom," educating ODs on practice affordability, discussing the Associate OD shortage, and more with Dr. Mick Kling, OD
20/20 MONEY
Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Mick Kling, OD. Mick joins me back on the show to talk about the power of community within the profession and how optometrists can avoid the “race to the bottom” when it comes to pricing by focusing on delivering and communicating value to their patients. We also discuss how to evaluate the affordability of a practice, the tools available to help aspiring owners make informed decisions, the current shortage of associate ODs, and the importance of building strategic partnerships throughout a practice owner’s...
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From blank to bank: How a $35 lens becomes a $525 sale by finishing in-house with Dr. Mike Satryan, OD
20/20 MONEY
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
20/20 MONEY
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
20/20 MONEY
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
20/20 MONEY
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)
20/20 MONEY
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...
info_outlineWelcome to another episode of The Dose. In this episode, I’m joined by Dr. Jeremy Ciano, an optometrist located in Carmel, IN (where my office is located). What’s unique about Jeremy is that he has one of the best business minds and ways of thinking about an optometry business that I’ve ever met, and we leave no stone unturned during this episode. We talk about his journey in optometry and the state of his practice, how he started building his patient base, why he closes his office down for an entire day once per month, and the two criteria he uses for empowering his team to make decisions.
We also discuss:
- How he started from day one of wanting to be “the 1%” of practices that delivered a world class patient experience
- Why he starts off by thanking patients when they bring in a problem or complaint
- Pieces of technology he’s using to deliver a great patient experience, including the importance of investing in a great practice website.
- Time management and the stepping stones that Jeremy’s taken in life to get to where he is now: running a $2.4MM practice w/ one FTE OD schedule, while he works about 2.5 pt facing days per week.
And be sure to stick around to the end, where we talk about where Jeremy is speaking and how you might be able to learn more from him in the future, including a “tease” on the next topic we’ll discuss in a future episode.
We also reference no less than 7 books that have been very influential on both of us in our businesses.
Never Eat Alone – Keith Ferrazzi
Killing Sacred Cows – Garrett B. Gunderson
The Everything Store – Jeff Bezos
Good to Great – James C. Collins
Failure is Not an Option – Gene Kranz
The One Thing – Gary Keller
Small Giants – Bo Burlingham
4 Hour Work Week – Tim Ferriss
Technology: National Recalls http://www.nationalrecalls.com/index.html Solution Reach (https://www.solutionreach.com/)
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