The Disabled Access Credit offers optometric practices tax relief covering ADA compliance costs. Qualified small practices tracking eligible expenses can recoup 50% of these costs over $250, up to a maximum credit of $5,000.

Learn a novel yet powerful strategy to introduce your children to the world of financial management - Kids' Debit Cards. With the aim of raising not just children, but future responsible adults, we delve into the benefits of teaching kids how to budget and spend wisely at an early age. This post talks about how child-friendly debit cards with parental controls can serve as excellent teaching tools, enabling children to make independent financial decisions, and understand the concept of budgeting. We also discuss the psychological aspects of spending and financial independence, and the role they play in shaping the future financial habits of our children. It's time to turn those play coins into real cents, and arm our kids with the wisdom of wise spending. Don't miss out on these pro tips!

Boosting Profitability in Your Optometry Practice: Insights from the ODs on Finance Community

Achieving success in an optometry practice requires striking the perfect balance between offering exceptional patient care and maintaining a solid financial foundation. In this blog post, we're sharing practical advice from experienced ODs on Finance community members on how to increase profitability in your optometry practice.

Key strategies include determining whether to increase patient volume or reduce costs, thoroughly analyzing your COGS to identify inefficiencies, focusing on your optical department, and re-evaluating your fees. Additionally, consider diligently managing your accounts receivable to ensure timely billing and compensation, educating your staff on the medical benefits of premium eyewear, embracing strategic outsourcing, and finding a niche in the market to set your practice apart.

By implementing these techniques, you'll not only enhance your profitability but also make informed decisions that contribute to the success of both your practice and your patients. Dive into the full post to learn more about how to apply these strategies and transform your optometry practice.

5 Essential Accounting Tips for Eye Doctors: Maximizing Your Practice's Profits

Simply put, rich people use their money to buy things, and wealthy people use their assets. Let's use an example further defining and illustrating this concept.