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...
by Nathan Hayes | Apr 27, 2024 | 7 Key Expense Areas, Leadership & Management, Practice Management
At this point, most optometry practice owners will agree that sharing metrics and results with their team can help sharpen focus, uncover areas to improve, and increase staff engagement. But what should you share? And is there such a thing as over-sharing? Let’s...
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,...
by Nathan Hayes | Dec 30, 2023 | Cash Flow & Cash Management, Financial Operations, Leadership & Management, Practice Management, Tax Prep
In the world of personal finance advice, there’s an adage that says you should “pay yourself first.” This means prioritizing personal savings and investing before spending money on personal needs and wants. In a business context, it’s not as simple...
by Nathan Hayes | Dec 23, 2023 | Buying and Selling Practices, Financial Operations, Leadership & Management, Practice Management
What’s the best way to plan for expenditures? Practice owners try any number of strategies. Some use spreadsheet budgets while others sit on a mountain of cash (at least we know we won’t run out!). Some even have separate accounts for key expense areas, as well...
by Nathan Hayes | Dec 9, 2023 | Buying and Selling Practices, Leadership & Management, Practice Management
If you’ve ever purchased or sold a practice, you know that practice valuations can be both intriguing and nerve-wracking. You might find yourself asking, “What’s the value of my practice?” or “Am I paying too much to acquire this...
