April Showers Bring… Financial Awareness

Hello April, we have made it to spring! After a rough winter in New England, we are looking ahead to sunny skies and warm temperatures. In our practices, we are closing the books on the first quarter of 2026 and hopefully making some time to practice financial awareness.

What am I looking at as we start Q2?

First, pricing. Who says pricing has to wait for January 1? As a business owner, you can update them anytime! With 90 days of business under your belt, this is a great time to evaluate where you stand. When was the last time you raised your exam, frame and lens pricing? Spring is a great time to turn over a new leaf and make sure your pricing reflects today’s costs and market.

Inventory is another great place to practice awareness. We run a full frame inventory every quarter, although we are very cognizant of what is selling and what is on our boards. For practices who set it and forget it, this is your time to see what is moving and what is just taking up space. Do you have a lot of understock that you keep in case you need it? Frame lines that are stagnant and not moving? Spring cleaning isn’t just for houses. Now is a great time to clear space for new inventory.

April is also a great time to check cash flow. How are you doing with your outstanding insurance remittances, accounts receivable and bills that need to be paid? Falling behind on these doesn’t necessarily mean your practice is unhealthy, but rather a reminder that there are areas that need constant attention for a practice to be profitable.

Ready to make some changes? Here is my version of spring cleaning for your financials.

TRY THIS NEXT WEEK

Pull one simple report: frame sales by SKU over the last six months

Identify what hasn’t moved and make a plan—return, discount strategically or stop reordering.

Next, review one fee you haven’t adjusted in years and ask whether it needs to be raised (hint, the answer is likely yes).

Lastly, check all outstanding accounts receivable and assign a team member to follow up and report back on where they stand. Make this a monthly meeting to stay on top of it.

April showers signify change, growth and promise. Here in the Northeast, that hopefully means warm weather, sunshine and beautiful flowers. In our practices, it means accountability, control and profitability.  Happy spring to all!

Yours in success,

Jennifer L. Stewart, OD

Read Dr. Stewart’s March insights here.