IDOC actively shares industry-focused articles, blog posts, podcasts, videos and other thought leadership with our members and other optometric practitioners. Below, you will find links to our growing library of educational materials and multi-media assets written and created by IDOC's team of seasoned industry experts.
Nathan Hayes | 1/10/2022

It’s a new year, which means that practice owners—and your IDOC consultants, for that matter—are reflecting on last year’s achievements and setting revenue goals for 2022.

As you set your 2022 revenue goals, don’t forget to celebrate the wins from last year. Goals and business resolutions lead us all on a never-ending path to perfection; if we don’t look backwards, sometimes it just gets discouraging. So, remember to celebrate hitting your revenue targets or other business goals!

How to Set Revenue Goals for 2022

At IDOC, we’re setting SMART revenue goals for 2022: Specific, Measurable, Achievable, Relevant, and Time-bound. Using the SMART framework is an effective way to properly set revenue goals for 2022.

In our experience, most practices will (and should!) have a goal tied to gross collected revenue. Alas, for some owners—and a lot of staff—having goals tied to money can feel a bit icky.

If that’s true of your practice, here’s my best piece of advice: before talking about money, take author Simon Sinek’s advice and “start with why.” Why does the practice get paid money? Why do you do what you do for your patients?

The phrase I use to explain why revenue is a good measurement of achievement is:

REVENUE is a number that measures how many PATIENTS a practice sees and how much CARE those patients consume from the practice.

Everyone in your practice has a day job of caring for your patients’ visual health. The outcome of caring is that your practice will be paid for the care you deliver. To be clear, care includes:

  • Comprehensive exams
  • Disease management and medical eye care
  • Specialty services
  • Eyeglasses that help patients look and see their best
  • Contact lenses

(Yes, retail is a part of care!)

2022 Revenue Metrics to Measure

When doing your 2022 revenue goal planning, there are two parts to the above formula that deserve extra attention.

  1. Patients
    Perhaps the most important measure is how many patients are being seen in your practice. A key metric to watch is your schedule fill rate (the number of patients actually seen versus the number of exam slots). Aim to keep the fill rate above 90-95 percent.
  2. Revenue per exam
    Another one of the best ways to set revenue goals that are effective is to pay particular attention to your revenue per exam. Revenue per exam is the output for the standard of care a practice provides. A great activity for your planning is to write out the standard of care for your practice: what is the level of care (screenings, pairs of prescription glasses, etc.) a patient should expect to receive in your practice? Can you raise your revenue per patient?

Take time in this new year to reflect and set measurable goals for financial performance and the patient care that undergird your practice’s revenue. Setting clear, measurable, concrete 2022 revenue goals built on your why is the best way to focus your staff’s attention on the activities that matter. It’s also the best way to focus your own attention and energy on defining, explaining, and then creating the practice of your dreams.

If you are still struggling to make sense of your finances or want some added guidance, let us help. At IDOC, we offer financial services for optometrists to help you run your business successfully.

Nathan Hayes
Director, Financial Services
Nathan Hayes joined IDOC with a solid background in the eye care industry and serves as IDOC’s Practice Finance Consultant. Before Prima launched in 2011, he spent five years in business development for Red Tray and HMI Buying Group. Nathan graduated from Vanderbilt University in three years, with a degree in Spanish and a minor in mathematics.

After graduating, he spent a year working abroad. During that time, he worked for two firms in San Jose, Costa Rica. He interned with Grupo Juridico de San Jose, working in environmental policy to protect a threatened parcel of land, then he worked as a project manager for a US-owned precision machining shop. Nathan then spent 6 months working with street children and orphans in Mexico.

Before getting into the healthcare industry, he was an Assistant Store Manager and completed the Corporate Training Program with Haverty’s Furniture Company in Atlanta, GA. Nathan and his wife Heather have a son, Daniel, and a daughter, Hannah. In his spare time, Nathan enjoys reading and outdoors activities - especially cycling and hiking.
Trending Blogs

12/2/2022 | Author: IDOC

Hayley Stewart, IDOC Financial Services Manager

The end of the year is quickly approaching, which means you are probably thinking about your practice’s bookkeeping and all the many year-end deadlines that are going to be here before you know it. One of those deadlines you... Read more

11/4/2022 | Author: Nathan Hayes

IDOC is excited to announce the first benchmark report for our new Books & Benchmark; Financial Statement Benchmarks are live.  With over 30 practices connected to the database, we’re now able to run benchmarks.  Let us share a couple of aspects of how we do benchmarks that... Read more

9/9/2022 | Author: Maddie Langston


If you are looking to increase the number of new patients at your practice, then your marketing strategy should include working on how to get noticed in local online search results. One powerful way to increase your visibility in local search is to optimize and maintain the... Read more

8/22/2022 | Author: Kelsey Garcia

So you created a Facebook and Instagram account for your practice, but now what? Coming up with post ideas can be overwhelming and can quickly leave your creative “well” feeling dry. By categorizing your posts into three main buckets, you can easily streamline the brainstorming... Read more

8/5/2022 | Author: Dr. Steve Vargo

As I type this, the news is dominated by concerns over the economy, including unease around inflation and a looming recession. This has practice owners understandably concerned and asking, “What should I expect, and how can I prepare?”

I’m not an economist, and I... Read more

7/22/2022 | Author: Nathan Hayes

Do you worry that your staff aren’t consistently doing the little things in your practice? Do you lose sleep because you just ‘don’t know’ what’s happening outside your lane?  Do you struggle to find the time to oversee things?

Let me suggest that... Read more

7/15/2022 | Author: Amy Alvarez

I think I would be hard pressed to find an independent practice owner who doesn’t understand the power that marketing has on their ability to attract patients to their practice. Keeping patients, new and existing, visiting the practice is an important part of a successful... Read more

7/8/2022 | Author: Lana Greene

I have never spoken to a practice with a zero patient-owned-frame (POF) percentage. I encourage practices to strive for less than 25% POF percentage at a minimum, and less than 15% for the best-in-class. You may see a slight increase year-over-year, which will happen when you sell quality... Read more

5/19/2022 | Author: Dr. Steve Vargo

As research for launching a new service called IDOC Specialty Services, I interviewed several industry experts of various specialties. At the end of each call, I asked everyone the same question: “What prevents more ODs from succeeding with a specialty?”

Their answers were insightful.... Read more