by Nathan Hayes | Mar 30, 2024 | 7 Key Expense Areas, Budgeting, Financial Operations, Non-OD Staff Compensation, OD Compensation
At Books & Benchmarks, we’re always looking for ways to streamline our operations and be more efficient. In working with over 100 practices across the country, we’ve seen firsthand the challenges optometry practices face in financial management. ...
by Nathan Hayes | Mar 23, 2024 | 7 Key Expense Areas, Budgeting, Financial Operations, Non-OD Staff Compensation, OD Compensation
One reason why Books & Benchmarks insists on doing bookkeeping for optometry practices is to ensure that wages and benefits are grouped by Non-OD Staff, Owner ODs, and Associate ODs. This week, let’s briefly discuss why Books & Benchmarks breaks out wages and...
by Nathan Hayes | Mar 9, 2024 | 7 Key Expense Areas, Cost of Goods Sold/Inventory
Last week, I shared how a practice asked us to split their Maui Jim bill between plano and Rx work so they could more accurately measure and control their frame spending. Using that as a jumping-off point, I noted that while controlling costs is an important part of...
by Nathan Hayes | Mar 2, 2024 | Budgeting, Financial Operations
The other week, one of our Books & Benchmarks clients came to us with a unique request. They wanted to split their Maui Jim statements between Plano and prescription sunglasses. When we inquired further, they explained that they were trying to put spending limits...
by Nathan Hayes | Feb 24, 2024 | 7 Key Expense Areas, Financial Operations
Rebates are like door prizes practices get for showing up and doing business with the various vendors that supply us with eyewear, contact lenses, and equipment. It’s always nice to get something back after spending thousands, if not tens of thousands, of dollars with...
