Are you asking the right questions to help grow your practice efficiently? For many, the constant questions always arise, “Am I tracking the right metrics?” and “Do I know where my money is actually going?”
In this episode of Power Hour, host Eugene Shatsman sits down with Adam Cmejla, CFP, Founder and Owner of Integrated Planning & Wealth Management, and Host of the 20/20 Money Podcast, to unpack the strategies that separate successful optometry practices from the rest.
With decades of experience guiding ODs through financial decision-making, Adam delivers a rare, insider look at how money really flows in a practice — and how to turn those numbers into lasting wealth.
Adam breaks down what “compression” really means: the rising cost of goods, increased HR expenses, and shrinking margins that are squeezing practice owners. With over 35 states worth of client data, he explains how these financial pressures translate into practice valuations, exit strategies, and even day-to-day patient care.
The episode explores the state of private equity in optometry, where multiples once peaked as high as 8x EBITDA but have since tightened under today’s interest rate environment. Adam contrasts these deals with OD-to-OD transactions, which typically fall in the 4–6x range, and highlights why terminology like “shareholders” versus “partners” can significantly impact practice culture during succession planning.
Beyond ownership transitions, Adam dives into operational strategies to combat compression. From AI scribes to virtual staffing, practices can reduce overhead while actually improving patient experience. He points out that cost of goods still hovers around 25–27% of revenue and non-OD staff compensation averages 25–26% —numbers that demand attention in an era where margins are constantly under pressure.
The conversation also highlights the shift in patient behavior. Roughly 51% of appointments are still booked over the phone versus 49% online, reminding owners that both patient communication preferences and technology adoption must shape efficiency strategies
In a time when uncertainty feels like the only constant, Adam reminds us that optometry practices are both businesses and investments. This episode reveals the multiple challenges optometry practice owners face today under financial compression. However, with a clear understanding of costs, valuation dynamics, and emerging technology opportunities, owners can take proactive control of their practice’s financial health and growth trajectory.
Key Takeaways
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- Understanding Compression: Learn how rising costs in labor and materials are squeezing margins and impacting practice profitability.
- Practice Valuation Insights: Discover current market multiples for OD-to-OD sales versus private equity transactions and what influences these valuations.
- Cost Management Strategies: Explore actionable steps to optimize cost of goods and HR expenses, including vendor consolidation and in-house lab considerations.
- Technology as a Solution: See how AI and virtual scribes can increase revenue per doctor hour, reduce operational burdens, and enhance patient experience.
- Navigating Ownership Transitions: Understand the complexities of selling your practice, agency in deal terms, and how clear roles prevent internal partnership conflicts.
- Patient Engagement Trends: Recognize the ongoing importance of human connection in patient communication amidst growing digital scheduling options.
In This Episode
- 00:00 – Introduction
- 05:40 – Key Financial Trends: Labor Costs and Cost of Goods
- 10:00 – Practice Valuations: OD-to-OD vs. Private Equity Buyers
- 18:00 – Exit Strategies and Ownership Transitions
- 25:00 – Managing Costs and Building Margins
- 33:00 – Leveraging AI and Technology in Your Practice
- 45:00 – Improving Patient Scheduling and Experience
- 53:00 – Human Connection vs. Digital Tools in Patient Care
- 56:30 – Final Thoughts and Future Outlook
Contact Information
Connect with Adam Cmejla
Adam Cmejla is a Certified Financial Planner and founder of Integrated Planning and Wealth Management, specializing in helping optometry professionals manage practice finances, wealth planning, and business transitions.
He is recognized for his ability to simplify complex financial concepts for healthcare providers, focusing on practice profitability, valuation, staff efficiency, and strategic planning. With extensive experience advising optometrists across multiple states, Adam offers insights into market trends, private equity transactions, and technology adoption to improve practice performance and owner financial outcomes.
He is a sought-after speaker and repeat guest on optometry-focused financial podcasts, known for blending big-picture strategy with practical day-to-day financial management advice.
LinkedIn: https://www.linkedin.com/in/acmejla/
Website: https://integratedpwm.com
20/20 Money Episode with Symmetrics: https://integratedpwm.com/2024-optometry-benchmarks-nathan-hayes/
Connect with Eugene Shatsman (Managing Partner, NSG)
Website – https://www.eugeneshatsman.com/
LinkedIn – https://www.linkedin.com/in/eugeneshatsman