by Nathan Hayes | Nov 9, 2024 | Buying and Selling Practices, Financial Operations, Practice Management, Tax Prep
Generating financial reports can be tedious. You either spend a little time each month (or a lot once a year), or you hire someone like your CPA, a bookkeeper, or a team member to produce them. Naturally, we prefer that you choose our bookkeeping services for...
by Nathan Hayes | Oct 26, 2024 | 7 Key Expense Areas, Non-OD Staff Compensation
With all the wage inflation optometry practices have experienced over the past several years, many are looking for a better way to manage salary increases. Today I had a call with a practice owner who was getting advice that closely mirrors how our parent company,...
by Nathan Hayes | Oct 12, 2024 | Accounts Receivable/RCM, Financial Operations
Accounts receivable and staff management are often the biggest headaches for optometry practices. Health insurance and managed vision care plans are incredibly effective at attracting new patients to practices. In exchange for Groupon-style marketing, practices...
by Nathan Hayes | Sep 28, 2024 | Financial Operations, Leadership & Management, Practice Management
At Books & Benchmarks, we believe in keeping financial processes simple. Our chart of accounts can roll a P&L up to just eight line items. We prefer to keep the number of bank accounts and credit cards to a minimum for simpler operations. We think having fewer...
by Nathan Hayes | Sep 21, 2024 | Accounts Receivable/RCM, Financial Operations, Leadership & Management, Practice Management
When we talk about the best ways to improve profitability, we often point out that cost-cutting can only do so much to improve profits and cash flow. Most practices need encouragement to take risks and invest in growth rather than greater discipline in their...
