You've finally decided, you want to own your own practice. But then comes the big question: where do I even start? Should you build one from scratch or take over an existing practice? It's exciting… but also a little overwhelming, right?

In this episode, Erich Mattei of Akrinos is back to unpack what it really takes to step into practice ownership in today's optometry landscape. From identifying each phase of the practice lifecycle to good practice acquisition and making a modernised workflow, Erich shares his strategic framework that every current or future practice owner can use.

About the Guest:

Erich Mattei is President + Chief Vision Officer of Akrinos, a practice management consultancy providing business solutions & advisory to eye care professionals starting, growing & transitioning their private practice in the U.S. He holds an MBA in Entrepreneurship & Innovation from Loyola University New Orleans. Erich is also a partner of the American Optometric Association Center for Independent Practice and a member of the American Academy of Optometry Foundation President's Circle. Erich lives in New Orleans with his wife and two kids. Outside of work, he enjoys cycling, hiking, family road trips, and playing guitar.

Key Topics with Timestamps:

0:59 - Erich's background in the eye care industry

2:57 - The 3 phases of practice lifecycle

4:17 - Phase 1: Emerging practice

5:01 - Phase 2: Established practice

8:57 - Phase 3: Legacy practice

10:25 - Why every phase of business comes back to serving your community

15:14 - Trends in new optometrists pursuing independent ownership

18:31 - Incorporating specialty care into the practice

23:28 - What makes a good practice acquisition

25:22 - 3 general areas of due diligence in buying a practice

28:52 - The importance of financial statements to the revenue value of the patient

All the other links and resources mentioned in this episode can be found at

https://www.thefocusedview.com.au

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Thank you for joining us in this episode of The Focused View Podcast. If you enjoyed this episode, give us a 5-Star rating, and leave a review on Apple Podcast and Spotify to help us reach even more eye care professionals and build a community of innovation and see new opportunities within the optical industry. Talk with you next time!