Implementing equipment purchases and expanding scope of care with intentionality in your optometry practice with Dr. Ryan Gustus
Release Date: 06/03/2024
Truly embracing "comprehensive care" with your patients: Part 2 conversation with 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, host of The Chris Wolfe Podcast, founder of the online billing & coding LMS , and a partner in Exclusively Eye Care, a private practice in Omaha, NE. This is part 2 of my conversation with Chris and I’d really encourage you to check out Part 1 of our conversation over on Chris’s podcast The Chris Wolfe Podcast (links in the show notes of this episode). Part 1 will really give some context behind the mindset that’s required to embrace some of the strategies and concepts that Chris talks about...
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Another 20/20 Money Takeover - "Cold Start & Satellite Expansion Edition w/ Drs. Jeremy Ciano & Jennifer Stewart
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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 and...
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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
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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Bethany Fishbein, OD, consultant and executive coach with 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...
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Rethinking your mindset around your team & delegation with Dr. Mike Neal, OD
20/20 MONEY
Welcome to this episode of 20/20 Money! My guest on today’s show is . 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....
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Five ways optometry practice owners could be myopic in their ownership journey with Erich Mattei from Akrinos
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Welcome to this episode of 20/20 Money! My guest on today’s show is Erich Mattei, founder of . 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 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...
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"Things that make you go 'What?!?" as a practice consultant w/ Jennifer Stewart
20/20 MONEY
Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Jennifer Stewart, founder of the private practice and . 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...
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Creating a StoryBrand framework for an optometry practice with Daniel Palmer
20/20 MONEY
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...
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How leadership impacts practice success (and ways to improve your leadership skills) with Bethany Fishbein
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Welcome to this episode of 20/20 Money! My guest on today’s show is Dr. Bethany Fishbein, OD, Consultant & Executive Coach with . 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...
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Bonus structures that work for non-OD team members w/ Dr. Michael Neal, OD
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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 and clicking on the Learning Center. While there, be sure to subscribe to our monthly “planning life on purpose” newsletter that’s...
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What an interest rate cut means for optometry practices (and strategies for practices in changing economic times)
20/20 MONEY
In this episode, we break down why the Federal Reserve decided to cut interest rates by 0.5% (50 basis points) and what it signals about the economy. More importantly, we dive into actionable steps that optometry practice owners can take to benefit from these lower rates while preparing for potential economic shifts. Resources: ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms ————————————————————————————— For...
info_outlineWelcome to this episode of 20/20 Money! My guest on today’s show is Dr. Ryan Gustus, OD.
Ryan joins me on the show live from Vision Expo East to discuss something that is very timely given the recording location: how practice owners can think about the implementation of various pieces of equipment in your practice to ensure that it's done with intention and leads to profitability. As an example, Ryan shares the personal experience and process that he went through when he and his partner made the decision to implement an IPL in their multi-location practice to treat dry eye for their patients. Ryan also shares a unique way in which he actually had patients partially pre-pay for their upcoming treatment, even before he purchased the equipment, as a way to validate their commitment to the treatment, thus giving him the confidence to know that it was the right decision for their 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. Ryan Gustus.
Resources:
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To learn more about The OD Mastermind Program, please email [email protected]
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For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!