How a Limiting Mindset Can Cost Practice Owners More Than They Realize with Dr. Steve Vargo
20/20 MONEY: The Business of OptometryShow Notes
In this episode I sit down with Dr. Steve Vargo to unpack a mindset that many practice owners quietly wrestle with: the belief that there is no longer money to be made in the basics of optometry. We start with a real question from a practice owner who feels discouraged by stagnant reimbursements and declining capture rates, and use it as a springboard to discuss the deeper issue underneath it all: communication.
Steve explains why successful practices are not necessarily dependent on adding new cash pay services, but instead on improving how doctors listen, communicate, and guide patients toward solutions that solve real problems. If you have ever felt frustrated by patients walking with their prescriptions or wondered whether the future of your practice depends on adding the next new service, this conversation will challenge that assumption and give you practical ideas to improve both patient outcomes and the financial performance of your practice.
Resources: Book a Triage call with Adam Download the Practice Owner's Financial Toolkit 20/20 Money Ultimate Financial Success Masterclass OD Mastermind Interest Form Check out Adam's new book: How to Buy an Optometry Practice Connect with Dr. Steve Vargo on LinkedIn
————————————————————————————— Please rate and subscribe to 20/20 Money on these platforms Apple Podcasts Spotify ————————————————————————————— For past episodes of 20/20 Money with full companion show notes, please check out our episode archive here!
Check out Adam's other podcast! The Optometry Success Podcast Subscribe on Apple Podcasts: https://bit.ly/4tttng6 Subscribe on Spotify: https://bit.ly/4tuf0YM
More from 20/20 MONEY: The Business of Optometry
Welcome to this episode of 20/20 Money! My guest on today's show is Greg Crabtree, CPA.
In this episode of 20/20 Money: The Business of Optometry, I'm joined by Nathan Hayes of Books & Benchmarks to go over their recently updated benchmarks analysis and unpack what the latest optometry practice data says about growth, overhead, and profitability. We discuss why a benchmark is a starting point, not a verdict on your practice, and why rising expense ratios may call for a closer look at revenue rather than an immediate round of cuts.
The most expensive professional service may not be the one with the highest price—it may be the one you mistakenly thought was a great deal.
What does it really take to build and lead a successful multi-location optometry practice? In this episode of 20/20 Money, I'm joined by Dr. Andy Yaryan, Dr. Jeni Kohn, and Dr. Patrick Curran, three experienced practice owners who offer an honest look at what is happening beneath the surface of a growing practice. We discuss the challenges that remain even after achieving visible success, including rising expenses, staffing and culture, shrinking margins, associate recruitment, and the danger of becoming complacent.
The most expensive mistake in your practice might be solving a problem you never proved existed.