by Nathan Hayes | Jun 14, 2025 | 7 Key Expense Areas, Cost of Goods Sold/Inventory, Financial Operations, Goal Setting, Internal Audit, Practice Management
“If you think about it, benchmarks are just a way to make you feel bad about your own practice.” Gary Gerber, OD Recently, I had a conversation with a Books & Benchmarks client who was concerned that his Cost of Goods Sold had recently climbed above...
by Nathan Hayes | Jan 25, 2025 | Goal Setting, Practice Management
This time of year, many practice owners ask me about their goals. I often get questions like, “Should we aim for 6% or 8% growth?” While it’s great to have a target in mind, these figures might be too conservative, and percentages alone can be too...
by Nathan Hayes | Jan 18, 2025 | Goal Setting, Practice Management
It’s goal-setting season, and we’re already charging ahead with hopes and plans for 2025. This is great because goals are an important way to challenge yourself and your team to change and improve. Even if you miss your targets, there are lessons to be learned and...
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 | 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...
