Books & Benchmarks

How do equipment costs factor into benchmarking? This week’s blog dives into the complexities of these expenses, explaining how they show up on both your P&L and balance sheet. Understanding the difference between cash flow and profitability, especially when financing equipment with debt, is key to ensuring your practice stays on a solid financial footing. Read the full blog here: https://bit.ly/3yKfpPg

Last call to register for tonight's live walkthrough of the 2023 Optometry Benchmarks Report! Join Nathan Hayes as he guides you through the key benchmarks and performance indicators, providing expert insights and clarity about the financial metrics and industry trends that are crucial for your practice's success—don’t miss it! Secure your spot now! https://bit.ly/4dBjvIp

Only two days left to register for the Live Books & Benchmarks Report Walkthrough. Join Nathan Hayes for an in-depth look at the critical benchmarks and performance indicators that are shaping the optometry industry.  Register now: https://bit.ly/3WTmoPg

Is your optometry practice investing enough in marketing? Even a modest increase in marketing spend can significantly drive growth. Strategies like patient education, enhancing your online presence, targeting cash-pay populations, and combining digital with physical campaigns can make a big difference. Learn more in our most recent blog and don't forget to subscribe for more updates: https://bit.ly/4ccFJPK

Join us for an exclusive live walkthrough session with Nathan Hayes, author of the 2023 Optometry Benchmarks Report. Nathan will walk you through the key benchmarks and performance indicators, offering expert insights and explanations. Don’t miss this chance to gain clarity on the financial metrics and industry trends that are essential for your practice’s success. Reserve your spot here: https://bit.ly/3AdtTYk

Bills are an inevitable part of practice management, but how you pay them matters. Weighing the risks and benefits of paper checks, credit cards, and electronic transfers is crucial. Checks are outdated and prone to fraud, while credit cards offer rewards but can incur fees. Electronic Funds Transfers (EFTs) stand out as the best option—fast, secure, and easy to manage. Learn more about bill paying best practices in our latest blog. And don't forget to subscribe for more updates: https://bit.ly/3zW2pGO

Managing fixed expenses is a major challenge for optometry practices. Balancing growth and profitability is essential, as expanding space can boost revenue but also increases financial risk. Careful financial planning and strategic assessment of renting versus owning are crucial. Read more in our latest blog here: https://bit.ly/46k6C3a

Struggling with tight cash flow in your practice? Our latest blog dives into the common causes and challenges of managing cash flow. Learn why using multiple checking accounts might not be the best strategy and discover practical tips to improve your financial health. https://bit.ly/3Lg2ast

Books & Benchmarks provides optometry practice owners with the understanding and insight you need to make great decisions for your practice by helping efficiently manage your practices using data and metrics. Learn about how Books & Benchmarks can help your practice: https://hubs.ly/Q02CkZFM0

Is your practice in the "normal" range for the 7 Key Expense Areas? These 7 optometry-specific financial areas are a great benchmark to measure your practice against. For more optometry focused financial information, download the 2023 Optometry Benchmarks Report: https://hubs.ly/Q02Ck7K80