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https://www.youtube.com/watch?v=1ypWHlzxwIA&t=2s The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists...
Why You Should Focus on Billing During COVID-19 A good friend of mine, who was also once my employer and mentor, was always ready with a quip or little pearls of wisdom. These were often in the form of a quick...
Note: This article is the second in a two-part series on achieving better cash flows for your practice. See the first article @ https://odsonfb.com/category/practice-management/accounting-and-finance/ which defines Cash Flow and why it's important to understand, as well as how to...
Note: This article is the first in a two-part series on achieving better cash flows for your practice. Next month's article will cover specific strategies to improve your cash flows. According to a CBInsights study, https://www.cbinsights.com/research/startup-failure-reasons-top/, running out of cash...
Do you do your own bookkeeping or have another non-accountant employee tackle this as "other duties as assigned"? I find that non-accountants often struggle when recording payroll-related entries. Challenges may occur even if you use an outside payroll service...
Mark Twain once said that "If the first thing that you do when you wake up in the morning is to eat a live frog, you'll have the satisfaction of knowing that's probably the worst thing that's going to...
Take Stock of Where You Are Mid-Year It's hard to believe we're halfway through 2019! As busy professionals, it's easy to get caught up in the day-to-day needs of your practice. However, it's a great time to perform a mid-year...
In your OD practice, you likely have implemented strong HIPAA-compliant procedures to protect your patients' sensitive health information. But what about the security of other sensitive information beyond your practice management system? For example, are you confident that cybersecurity...
When you're a relatively new OD, starting a new practice from scratch or even purchasing an existing one can be quite overwhelming! Not only must you focus on diagnosing and treating your patients, but also keep up with the...
As the head of an outsourced accounting firm that serves OD practices and other small and medium-sized businesses, my new clients are often amazed by the results of our onboarding process. We usually find a number of gaps in...