How Much is it Worth?

How Much is it Worth?

I have had a number of questions regarding the value of practices recently from both potential buyers and sellers. Some of them have referenced articles that have been published in the trades. Two particular articles have been problematic: an article in the American...
OD’s per State

OD’s per State

A recent article in Women in Optometry gave total numbers of women, and total numbers of optometrists, in all 50 states plus the District of Columbia. It gave me the thought to calculate the total number of population per optometrist by state. It is somewhat...
Capture Rate

Capture Rate

Capture rate is a frequently discussed number in the eye care community, with several variations on how to calculate the number. Simply put, the capture rate is the percentage of people who are refracted that purchase eyewear from the practice. The most frequently...
Know Your Numbers

Know Your Numbers

Some years ago as the V.P. of Sales & Marketing for an optical laboratory I accompanied our sales rep into the office of an Optometrist for whom our lab did 100% of the work. He was an engaging and forward-thinking gentleman with a lot of drive. The purpose of...
Advantages to Owning the Practice

Advantages to Owning the Practice

I speak to some of the Colleges of Optometry in the United States, and without fail get asked what is the advantage of owning your own practice, versus the advantages of working for someone else. My reply to this question is usually pretty long, but I’ll try to...
An easy way to determine Managed Vision Care (MVC) profitability

An easy way to determine Managed Vision Care (MVC) profitability

Have you ever wondered if you are making a profit with certain MVC plans? In order to know if you are profiting, you need to know two things: your cost per hour to keep your doors open, and your reimbursement per hour for patients of the MVC seen by your practice. To...