The Six Benchmarks That Will Help You Determine When the Timing is Right
by William K. Vincett, O.D.
For independent optometry practices, the right associate hire can change two careers at once.
For the owner, it unlocks growth, practice value, and lifestyle flexibility.
For the associate, it creates the opportunity to grow a patient base, develop a professional brand, build long-term career equity—and in many cases, transition to partnership or full ownership.
So how do you know when the timing is right to hire an associate OD?
I’ve identified six key benchmarks that signal when bringing on an associate becomes a true value-building move.
These benchmarks reflect lessons learned from decades of personal experience—hiring 24 associates for my own multi-location practice, coaching numerous client practices on their hiring, and advising the next generation of optometrists on how to achieve their income and/or ownership goals.
Read through to see the benchmarks I use to guide that decision. Or download the guide here.
Do you have a benchmark to add that’s been helpful to you? Comment below.
Disclaimer:
Every practice operates within unique financial structures, legal agreements, and market conditions, so this information should not be used alone to make hiring, financial, or legal decisions. Always conduct your own due diligence and seek appropriate professional guidance.
#1 Are you near or exceeding 90% booked?
- Calculate your total comprehensive exam slots and compare them to exams performed over a quarter or year.
- If you’re consistently near 90% utilization, adding an associate can unlock revenue and improve patient access, not just relieve workload.
- For an associate, this also means immediate patient demand and the ability to build a strong schedule quickly.
Solo ODs typically max out around 90% utilization. Beyond that, practices may lose 10–15% of potential revenue due to limited scheduling availability.
#2 Do you operate more than one office as a solo OD?
- With limited clinical availability at each location, at least one office is operating below its revenue potential.
- An associate doctor unlocks growth using already paid for overhead and infrastructure.
- For associates, this type of environment can provide the opportunity to develop their own patient following and clinical identity within the practice.
Solo ODs managing two or more locations often generate 20–30% less revenue per office compared to multi-doctor practices.
#3 Do you desire more time off and greater lifestyle flexibility?
- Vacations, CE, illness, or personal days directly impact production and the ability to meet fixed expenses.
- An associate protects revenue, patient service, and practice viability in the event of an unexpected or extended absence.
- Owner and associate can maintain healthier schedules while continuing to grow the practice.
Without an associate, a day off reduces revenue $1,500 – $3,000 a day.
#4 Are you preparing for an eventual exit or transition?
- Buyers and private equity groups value multi-doctor practices more highly.
- Adding an associate can be a strategic internal succession move — not just a staffing decision.
- For the right associate, this can represent a pathway toward future partnership or ownership.
Practices with 2+ doctors typically sell for 25–40% more than single-doctor practices.
#5 Do growth opportunities exceed your personal bandwidth?
- Without an associate, a solo OD owner is limited to 100% of their personal clinical capacity.
- An associate allows for expansion of bookings, services, specialty care, and locations.
- Expansion enhances an associates ability to build a thriving patient base and professional reputation.
An additional location can add $300,000–$1,000,000 in annual revenue when supported by the right team.
#6 Do you want to transition from full-time clinician to practice leader?
- Long-term goal: CEO role vs. strictly clinical role.
- An associate creates the leverage to make the shift.
- Opens up opportunity for associates to become more the clinical “face of the practice.”
Practices with associates and strong leadership often achieve 50–70% higher practice value.
If you answered “yes” to two or more of these questions, the timing may be right.
- Benchmarks—not stress relief—show when a hire truly adds value.
- For owners, the right associate can unlock growth, stability, and long-term value.
- For associates, the right practice can provide mentorship, and the opportunity to build a meaningful career or partnership/ownership within an established practice.
If you’re considering adding an associate — or you’re an OD exploring the right practice to join — feel free to reach out.
I’ve helped match many practices with the next generation of doctors and structure contracts that create true win-win relationships.
Often, the biggest opportunities start with a simple conversation. So, what are you going to make happen today?
