Ever wonder what your associate doctors should really be producing? Or how to fairly structure pay in today’s competitive market?
Welcome to the latest installment of the Power Hour’s Quarterly Metrics Roundup, where this quarter’s spotlight is on one of the most crucial, and often misunderstood topics: how to pay your doctors properly.
Returning to the studio is Dr. Jason Lake, who brings not only best-in-class benchmarks but also deep insights from analyzing hundreds of OD contracts and leading high-performing practices. He’s not just sharing numbers, he’s giving you a complete performance framework backed by real benchmarks from top-performing practices across the country.
Whether you’re a solo practitioner, building a team, or managing a multi-OD operation, this episode equips you with rare access to four essential performance metrics and four key production drivers that most practices never track — let alone optimize.
You’ll learn how to:
- Set realistic and motivating pay structures based on percent collections.
- Benchmark production per doctor hour, and why $400–$600/hour should be your floor, not your ceiling.
- Coach and incentivize your doctors using actionable KPIs.
- Boost productivity and patient care with practical strategies that work for both owners and associates.
Jason and Eugene break down how to move beyond vague goals and gut feelings, and use hard data to lead your team, or yourself, toward top-tier results. Plus, you’ll hear candid advice on compensation ranges (15–20% of collections), the role of benefits, and why overscheduling can hurt your bottom line.
The best part? Jason explains how to use these numbers to coach behavior, not just review performance. This is not about managing like a boss, it’s about leading like a CEO. If you want your doctors to succeed, you need more than ambition. You need strategy. This is more than a metrics episode — it’s a masterclass in performance-driven leadership.
Key Takeaways
- Why 15–20% of collections is the magic range for OD compensation, including salary + benefits.
- How to measure and benchmark doctor productivity (hint: it’s not just about how many patients they see).
- What full-time production should look like: $1M in annual revenue per OD is the new baseline.
- How to coach doctors using data instead of guesswork or pressure.
- Why simplicity beats complexity when it comes to compensation structure.
In This Episode
- 00:00 – Introduction
- 02:46 – The Real Cost of Associate Pay
- 04:46 – Should You Pay Salary or Production-Based Comp?
- 07:21 – The Gold Standard: 15%–20% of Collections
- 13:56 – Benchmarking Full-Time Production Goals
- 16:11 – Core Metric #1: Production per Doctor Hour
- 20:56 – Core Metric #2: Exams per Hour and the “Sweet Spot”
- 25:31 – Core Metric #3: Revenue per Full Exam
- 29:06 – Core Metric #4: Cost of Doctor as % of Collections
- 35:56 – Driver #1: Lens Capture Rate
- 39:11 – Driver #2: Contact Lens Fit Rate
- 44:11 – Driver #3: Professional Fees per Exam
- 46:56 – Driver #4: Reducing Exam-Only Visits
- 47:56 – Stacking Doctor Metrics to Drive Growth
- 49:36 – Coaching Reluctant Doctors
- 53:01 – Final Insights
Contact Information
Connect with Dr. Jason Lake
Dr. Jason Lake is a seasoned optometrist, business strategist, and data-centric leader in the eye care industry. Known for transforming optometry practices through analytics and operational discipline, Dr. Lake leads a high-performing group of practices that grow at over four times the industry average. He integrates EHR production data with accounting analytics to develop comprehensive business insights, enabling practitioners to manage not just patient care, but practice profitability.
His mission centers on educating optometrists about EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) — a term historically foreign to many in optometry — and helping them shift their mindset from “working in the business” to “working on the business.” His data-driven philosophy encourages consistent benchmarking and productivity tracking to improve decision-making, scalability, and sustainability in optometric practice management.
LinkedIn: https://www.linkedin.com/in/jason-lake-od/
Website: https://eyecarespecialties.biz/
Connect with Eugene Shatsman:
Website – https://www.eugeneshatsman.com/
LinkedIn – https://www.linkedin.com/in/eugeneshatsman