20/20 MONEY: The Business of Optometry

How a Limiting Mindset Can Cost Practice Owners More Than They Realize with Dr. Steve Vargo

In this episode I sit down with Dr. Steve Vargo to unpack a mindset that many practice owners quietly wrestle with: the belief that there is no longer money to be made in the basics of optometry. We start with a real question from a practice owner who feels discouraged by stagnant reimbursements and declining capture rates, and use it as a springboard to discuss the deeper issue underneath it all: communication. Steve explains why successful practices are not necessarily dependent on adding new cash pay services, but instead on improving how doctors listen, communicate, and guide patients toward solutions that solve real problems. If you have ever felt frustrated by patients walking with their prescriptions or wondered whether the future of your practice depends on adding the next new service, this conversation will challenge that assumption and give you practical ideas to improve both patient outcomes and the financial performance of your practice. Resources: Book a Triage call with Adam [https://integratedpwm.as.me/schedule/bc0791cb/appointment/1713824/calendar/706316?appointmentTypeIds[]=1713824] Download the Practice Owner's Financial Toolkit [https://integratedpwm.com/toolkit] 20/20 Money Ultimate Financial Success Masterclass [https://www.2020membership.com/] OD Mastermind Interest Form [https://www.jotform.com/form/250467795073062] Check out Adam's new book: How to Buy an Optometry Practice [https://a.co/d/0wv5uLn] Connect with Dr. Steve Vargo on LinkedIn [https://www.linkedin.com/in/stevevargo/] ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts [https://itunes.apple.com/us/podcast/the-dose-podcast/id1438352481?mt=2] Spotify [https://open.spotify.com/show/44jE3DxOjZQPok0H9D2jw3?si=7fhsalltRqGlwEbVqYnAQA] ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here! [https://integratedpwm.com/learningcenter/?cat=podcast] Check out Adam's other podcast! The Optometry Success Podcast Subscribe on Apple Podcasts: https://bit.ly/4tttng6 [https://bit.ly/4tttng6] Subscribe on Spotify: https://bit.ly/4tuf0YM [https://bit.ly/4tuf0YM]

Independence vs Isolation in Private Practice with John Marvin

In this episode I sit down with John Marvin to explore a challenging but important idea for private practice owners: the difference between independence and isolation. We unpack John's perspective on why fierce independence can sometimes limit growth when it prevents doctors from learning from others or leveraging the resources already available to them. Our conversation touches on mindset, the importance of personal growth as a business owner, and why building something bigger than yourself often requires becoming comfortable with discomfort. If you are thinking about the long term future of your practice and how to strengthen private practice in an evolving profession, this discussion will challenge the way you think about leadership, collaboration, and the role you play in the success of your business. On a personal note, I really enjoy my conversations with John. I usually get a number of pieces of feedback from listeners when I have him on the show. He's been around the profession and business of optometry for decades, and I certainly appreciate his candor, perspective, and opinions. I trust you as a listener do as well. Resources: Book a Triage call with Adam [https://integratedpwm.as.me/schedule/bc0791cb/appointment/1713824/calendar/706316?appointmentTypeIds[]=1713824] Download the Practice Owner's Financial Toolkit [https://integratedpwm.com/toolkit] 20/20 Money Ultimate Financial Success Masterclass [https://www.2020membership.com/] OD Mastermind Interest Form [https://www.jotform.com/form/250467795073062] Private Practice Was Not Defeated by Corporate, It Surrendered [https://invisionmag.com/private-practice-was-not-defeated-by-corporate-it-surrendered/] Connect with John Marvin on LinkedIn [https://www.linkedin.com/in/jdmarvin/] ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts [https://itunes.apple.com/us/podcast/the-dose-podcast/id1438352481?mt=2] Spotify [https://open.spotify.com/show/44jE3DxOjZQPok0H9D2jw3?si=7fhsalltRqGlwEbVqYnAQA] ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here! [https://integratedpwm.com/learningcenter/?cat=podcast] Check out Adam's other podcast! The Optometry Success Podcast Subscribe on Apple Podcasts: https://bit.ly/4tttng6 [https://bit.ly/4tttng6] Subscribe on Spotify: https://bit.ly/4tuf0YM [https://bit.ly/4tuf0YM]

The Blueprint for Growing a Multi-Million-Dollar Optometry Practice with Dr. Kurt Steele

Most optometrists think growth comes from better marketing or more patients—but the real advantage often starts somewhere much less obvious: your team and your culture. In this episode of 20/20 Money, Dr. Kurt Steele joins me back on the show to discuss the leadership philosophy and operational frameworks that helped him build a thriving multi-million-dollar optometry practice while developing future leaders inside the organization. The conversation explores why the strongest practices aren't simply focused on production or patient volume, but instead invest heavily in building engaged teams, creating ownership opportunities, and designing a culture where people feel personally invested in the success of the practice. We also talk about the realities of practice ownership today—from the growing influence of private equity to the decline of independent ownership in healthcare—and why developing future partners inside your practice can be one of the most powerful ways to preserve independence. Along the way, Kurt shares practical frameworks that practice owners can implement immediately, including how to track meaningful practice KPIs and how to implement operational improvements using a 7-30-90 strategic plan. Whether you're early in your ownership journey or beginning to think about the long-term transition of your practice, this conversation offers a thoughtful look at what it really takes to build a practice designed to grow, endure, and eventually pass on. Resources: Book a Triage call with Adam [https://integratedpwm.as.me/schedule/bc0791cb/appointment/1713824/calendar/706316?appointmentTypeIds[]=1713824] Download the Practice Owner's Financial Toolkit [https://integratedpwm.com/toolkit] 20/20 Money Ultimate Financial Success Masterclass [https://www.2020membership.com/] OD Mastermind Interest Form [https://www.jotform.com/form/250467795073062] Check out Adam's new book: How to Buy an Optometry Practice [https://a.co/d/0wv5uLn] Check out Dr Kurt Steele's website here [https://drkurtsteele.com/] Purchase a copy of Dr. Steele's book, "We're Not Selling, We're Winning: The Simple Blueprint That Grew Our Practice from $280K to $4M" on Amazon [https://www.amazon.com/Were-Not-Selling-Winning-Blueprint/dp/1962074269/ref=sr_1_1?dib=eyJ2IjoiMSJ9.tEsVgNNHuiXaMdkrox7N5TUsOtvOIKDUh6BmJlXA0Tc.xwQ3sOuAhmhFHQvGRjfjzUEMjZA2aUplmzl6wrxo-Z4&dib_tag=se&keywords=dr+kurt+steele&qid=1773426249&sr=8-1]

Sponsoring a health insurance plan in your practice may not be as expensive as you think

Health insurance is one of the most confusing and frustrating decisions practice owners face. In this episode I sit down with Matt Allen, founder of Iconic Insurance, to break down the real options available to optometric practice owners and their teams. We walk through the three primary approaches to offering coverage including fully funded plans, self funded plans, and reimbursement strategies. Matt explains how each structure works, when they make sense, and why understanding the risk profile of your team can dramatically impact cost and plan design. We also spend time discussing a second scenario many practice owners eventually face: the gap between selling a practice and becoming eligible for Medicare. Matt shares how the Affordable Care Act marketplace works, how income planning can impact premium subsidies, and why network design is one of the most overlooked risks when transitioning from employer coverage to individual plans. If you have ever felt overwhelmed trying to navigate health insurance decisions for yourself or your team, this episode will give you a clearer framework for evaluating your options. Resources: Book a Triage call with Adam [https://integratedpwm.as.me/schedule/bc0791cb/appointment/1713824/calendar/706316?appointmentTypeIds[]=1713824] Download the Practice Owner's Financial Toolkit [https://integratedpwm.com/toolkit] 20/20 Money Ultimate Financial Success Masterclass [https://www.2020membership.com/] OD Mastermind Interest Form [https://www.jotform.com/form/250467795073062] Check out Adam's new book: How to Buy an Optometry Practice [https://a.co/d/0wv5uLn] Iconic Insurance [https://iconic-insurance.com/about/] Connect with Matt Allen on LinkedIn [https://www.linkedin.com/in/matthewalleniconichealth/]

Tax Strategies to Embrace and Avoid & A Case Study on Where to Look for Errors on Your Tax Return: My Guest Appearance on Eye Own A Business Podcast

Many optometrists are either leaving money on the table with their tax strategy—or unknowingly pushing the boundaries of tax law. Today's episode is my guest appearance on Dr. Steve Vargo's Eye Own a Business Podcast. Steve invited me onto his show to talk about tax planning for optometrists—specifically the strategies practice owners should be embracing right now, the ones they should avoid, and where costly mistakes often show up on tax returns. In our conversation, we walk through several examples of where optometric practice owners tend to be either too conservative or too aggressive with their tax strategies, the difference between proactive tax strategy and reactive tax preparation, and a practical case study highlighting an error that occurred on an OD's tax return—and what correcting that mistake will mean for them going forward. If you've ever wondered whether you might be leaving money on the table when it comes to taxes—or potentially putting yourself on the wrong side of tax law—this episode should help you think a little differently about where to look and what questions to ask. Resources: Book a Triage call with Adam [https://integratedpwm.as.me/schedule/bc0791cb/appointment/1713824/calendar/706316?appointmentTypeIds[]=1713824] Download the Practice Owner's Financial Toolkit [https://integratedpwm.com/toolkit] 20/20 Money Ultimate Financial Success Masterclass [https://www.2020membership.com/] OD Mastermind Interest Form [https://www.jotform.com/form/250467795073062] Check out Adam's new book: How to Buy an Optometry Practice [https://a.co/d/0wv5uLn] ————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts [https://itunes.apple.com/us/podcast/the-dose-podcast/id1438352481?mt=2] Spotify [https://open.spotify.com/show/44jE3DxOjZQPok0H9D2jw3?si=7fhsalltRqGlwEbVqYnAQA] ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here! [https://integratedpwm.com/learningcenter/?cat=podcast] Check out Adam's other podcast! The Optometry Success Podcast Subscribe on Apple Podcasts: https://bit.ly/4tttng6 [https://bit.ly/4tttng6] Subscribe on Spotify: https://bit.ly/4tuf0YM [https://bit.ly/4tuf0YM]