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Optometry practice profitability
By ROB Editors
Jan. 29, 2025
Providing a high level of patient care is the top priority, but sustaining and growing practice profitability is also essential.
Without a profitable practice, after all, how can you continue providing topnotch care? And how can you plan for a financially secure future?
ROB Professional Editor Laurie Sorrenson, OD, FAAO, offers the following financial management pearl: The beginning of the year is when offices should look at their fees and at least raise them to the cost-of-living adjustment (COLA).
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This year, 2025, is predicted to have a 2.5 percent COLA, which is lower than in recent years. So, if you didn’t raise fees in 2024, you may need to raise them even more.
Here are additional tips from a few Review of Optometric Business contributors to grow profitability.
3 Most Reliable Ways to Increase Your Income as an Optometrist
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Increasing income level is a concern for most people, regardless of their profession, including optometrists. Here is what we have learned at ODs on Finance about the strategies that work best in accomplishing that goal. >>Read more<<
How I Grew a Specialty Practice From $0 to $78,000 a Month Without Selling Glasses
By Jason Carruthers, RO, FCLS(C)
In business, the journey from struggling to thriving can often hinge on one critical factor: traffic. Here is how I profitably specialized to increase traffic into my office while helping patients and creating a thriving practice. >>Read more<<
What the Owner of 14 Vision Franchises Can Teach Small Independents
By Steve Girisgen, OD
As the co-owner of 14 Pearle Vision franchise locations, I have gained valuable insights that I believe can benefit smaller, independent optometrists. Here is how we achieved double-digit growth in our multi-location practice, and how the same growth principles can be applied to your practice. >>Read more>>
