Dr. Hayes Blog

Jerry Hayes, OD presents a variety of tips and tactics designed to
bring more dollars to your bottom line. You are invited to
comment on the topics we cover.

Sponsored by Red Tray Purchasing Alliance and HMI Buying Group.


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Why I Don’t Recommend ‘Spiffing’ Your Staff

By Jerry Hayes OD | 2/26/2009 - 11:58 am

What Is Spiffing?

For purposes of this blog, let’s define ‘spiffing’ as the practice of awarding individual commissions or bonuses to employees for very specific activities such as: selling high-end frames, expensive lenses or confirming appointments that actually show up. 

An example might be paying your dispensing optician $10 for every frame they sell that retails for over $200. 

Many practice owners do it. Even some of your suppliers spiff your employees, sometimes without your knowledge. 

But as rule, I am not an advocate of spiffing. Why?




Tax Benefits Of Employing A Spouse Or Child In Your Practice

By Jerry Hayes OD | 2/23/2009 - 1:40 pm

Dear Dr. Hayes,

I was wondering if you could write a column on the top 5 legal ways to lower your taxable income and how to implement them, such as having a family member as an employee.

What are the real benefits of having your spouse “work” for the practice?




What Does Net Income Really Mean?

By Jerry Hayes OD | 2/18/2009 - 12:59 pm

You Probably Make More Than You Realize

One of the most misunderstood terms in practice management is "net income".

According to surveys by the AOA and my own consulting work with optometric clients, I can report with a high level of confidence that the average net income for private practice ODs is




What Is A Fair Number To Pay For Rent To A Partner?

By Jerry Hayes OD | 2/17/2009 - 2:43 pm

Dear Dr. Hayes,

I am currently the managing associate in a practice that is 2.5 years old. The practice is doing fairly well as we are on track for $500K this year with one doctor five days per week.

I am attempting to work thru a partnership proposal made by the two owners of the practice. One particular topic I am trying to ascertain is, what is a fair market rent for




I Really Enjoy This Blog And Using Red Tray

By Jerry Hayes OD | 2/14/2009 - 10:12 am

Dr. Hayes,

I recently opened up a practice cold in Charlotte, NC (www.clearvieweye.com) with my brother (he is also an OD).

We have been members of Red Tray now for about six months. I really enjoy this blog and Red Tray’s cost saving advantages on frames and lab work.

I look forward to other insights you will share with us.

Ben Hobbs, OD

Thanks Ben! We look forward to serving your practice.

Regards,
Jerry Hayes, OD




Why Should I Spend The Money To Get A Professional Appraisal?

By Jerry Hayes OD | 2/11/2009 - 10:31 am

Dear Jerry,

I am one of those many junior associates out here in the real world who is negotiating to buy a practice from an established OD.  We are on friendly terms, but it is not easy coming up with a value both sides agree to.




Did Big Practices Skew Our Survey Results?

By Jerry Hayes OD | 2/5/2009 - 10:44 am

Dear Dr. Hayes,

I think your survey results are skewed by overly ambitious responses.

Nuts and bolts, in the trenches solo ODs are




Income Survey Yields Highly Positive Response

By Jerry Hayes OD | 2/3/2009 - 11:09 am

Many thanks to the readers who responded to our first ‘60 Second Survey’. We got 328 responses which I consider to be outstanding!

Please know that if you didn’t participate in this survey, there will be others. We hope you will take the opportunity to weigh in with your opinions. The more responses we get, the more accurate our data will be. 

Comparing Practice Performance — 2008 To 2007 

The primary purpose of this survey was to see how private practices