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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...
As the head of an OD practice, even when things are humming along, it can be scary to think of all the things that could go wrong in your business. These can include a wide range of possible risks, including: ...
This article provides a general overview of the new Section 199A tax provision and its potential impact to OD practices. As of the date of this blog, business owners and their tax advisors are still seeking clarity about its...
How confident are you about the financial viability of your practice? According to the SBA Office of Advocacy, about two-thirds of small businesses with employees survive at least 2 years and about half survive at least 5 years. Only...
The end of the year is fast approaching! Here are some tips to help your year-end accounting process run smoothly. Planning ahead will ensure you have accurate and timely financial statements, facilitate tax preparation, and help you meet filing...
Based on our past poll, the majority of those who responded do their own bookkeeping or have an internal staff person who performs this work. These results are not surprising since owners of small to medium-sized businesses in many industries focus...
Have you heard the expression, a fish can't see the water its in? Fish are surrounded by water, making them blind to its existence. Likewise, ODs can become blind to their everyday situations as well. These blind spots may...
Imagine serving your patients without standardized processes. If there were no clear and consistent way of handling appointments - from bookings, screenings and exams, to patient check-outs and follow-ups - your patients would likely be dissatisfied, as well as...
Based on a recently-released AFP Payments Fraud And Control Survey Report (link: http://dynamic.afponline.org/paymentsfraud/p/1), chances are, your practice has been a victim of actual and/or attempted fraud. Sound hard to believe? According to the Report, 78% of companies were targets of...

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