by Nathan Hayes | Feb 17, 2024 | 7 Key Expense Areas
After reviewing financial statements from over 1,000 different optometry practices, it’s no surprise to me what owners say about them: “I’m just not good at finance stuff.” “I reconcile my QuickBooks every month. I know it’s right. I just don’t know what...
by Nathan Hayes | Jan 27, 2024 | Budgeting, Cash Flow & Cash Management, Financial Operations, Practice Management, Risk Management & Financial Security
At Books & Benchmarks, as we categorize and reconcile our clients’ bank and credit card accounts each month, we are constantly learning what works best for our clients. One area that will consistently cause more work for you, your bookkeeper, and your CPA is...
by Nathan Hayes | Jan 20, 2024 | Financial Operations
Last week, we talked about different ways to measure optometry practice profitability using metrics found on a practice’s income statement or P&L. This week, we’ll take a second look at Net Operating Income, which on our chart of accounts is also a calculation of...
by Nathan Hayes | Jan 13, 2024 | Cash Flow & Cash Management, Financial Operations
Profitability is kind of a big deal. It can also be hard to define, as anyone who follows optometric Facebook groups has seen. Let’s talk about how Books & Benchmarks helps owners understand their own practice’s profitability with accurate, thorough...
by Nathan Hayes | Jan 6, 2024 | Goal Setting, Leadership & Management, Practice Management
It’s a new year, which means a new set of goals and opportunities for private practices everywhere. Sure, every day, week, and month gives us a chance to improve, but there’s something about a new year that makes everything feel new. In this blog,...
