

What Optometrists Need to Know Before Starting a New Practice
There’s something thrilling about opening your own optometry practice from scratch. The space is yours, the brand is yours, and so is the vision (pun intended). But let’s be real: cold-starting a practice in 2025 is not a task to be taken lightly—and the path to profitability is more complex than it used to be.
With rising inflation, more aggressive insurance denials, and ever-growing overhead, launching a cold-start optometry office is a high-stakes equation. Still, for those ready to take the leap, it can be one of the most rewarding decisions of their career.
Here’s what aspiring owners need to consider before opening their doors.
Startup Costs: Higher Than Ever
From leasing your space to filling your optical shelves, upfront costs in 2025 are steep. Rising interest rates and inflated supply chain costs mean you’ll spend more than you would have just a few years ago. This includes:
- Renovation and build-out
- Clinical equipment (auto-refraction, imaging, diagnostic tools)
- EHR and billing software
- Optical inventory and lab tools
- Working capital for the first 6-12 months
Even digital systems are getting more expensive, with SaaS platforms hiking rates to reflect their own rising expenses. Every dollar needs to be accounted for—and that brings us to your best friend during this journey: the financial pro forma.
The Financial Business Plan
A cold start with no roadmap? That’s a recipe for burnout. A solid financial business plan doesn’t just get you a loan—it becomes your financial GPS.
Break it down by:
- Revenue estimates: Number of exams, average sale per patient, projected second-pair sales, etc.
- Fixed and variable costs: Rent, salaries, utilities, subscriptions, marketing, and vendor contracts.
- Cash flow forecasts: When money comes in, when it goes out, and how much runaway you will have in the early month.
Use it to test base-case and worst-case scenarios. Would you survive if 20% of your claims were denied? What if your patient volume lags for three months?
RCM Can Make or Break You
Revenue cycle management is often the last thing ODs want to think about—but in a new practice, it’s everything. Delays in reimbursement can break your momentum. Denials can cripple your cash flow.
Make sure your RCM strategy is airtight from day one:
- Clean claims
- Real-time eligibility checks
- Timely follow-up
- Consistent staff training
If you’re wearing multiple hats, automation will be your best friend.
Build with Purpose
The cold-start journey in 2025 isn’t easy, but it can be deeply fulfilling. If you build your business with a sharp plan, the right tools, and a mindset for adaptability, you won’t just survive—you’ll thrive.
Opening your own doors means writing your own future. Just make sure you’ve done the math first.
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FAQs
We've compiled some of the most common questions practices like yours ask about the IrisMed. If you don't find the answers you're looking for here, please don't hesitate to contact us – we're always happy to discuss how IrisMed can specifically benefit your practice.
Do I have to change my practice management system or software to use IrisMed?
No. IrisMed is designed to be compatible with all major practice management systems. Our software seamlessly integrates with your existing setup, requiring no disruptive changes to your current workflow. We also offer white-gloved implementation and support if needed.
How much does IrisMed cost?
IrisMed offers flexible pricing models tailored to the size and needs of your practice. Contact us for a customized quote based on your clinic’s volume and workflow requirements.
Will IrisMed replace my existing staff members?
No. IrisMed is designed to augment and empower your existing team, not replace them. By automating tedious and complex tasks around insurance and quoting, IrisMed frees up your staff to focus on what matters most: providing exceptional patient experience and growing your practice.
My practice management system already has insurance and inventory features. Why do I need IrisMed?
IrisMed acts as a specialized enhancement for your optical sales, tackling complex vision plan details in a way most general PMS insurance features don't. IrisMed instantly deciphers intricate insurance benefits for specific lenses, coatings, and frames, providing precise patient out-of-pocket costs. More importantly, it helps your team uncover often-missed sales opportunities - like premium upgrades or second-pair allowances - right at the point of sale. Think of it as the tool that ensures your dispensary maximizes optical revenue and minimizes quoting errors where your PMS's broader features might not specialize.
How secure is my data with IrisMed?
We understand the critical importance of data security and patient privacy. IrisMed employs robust security measures, including end-to-end encryption and strict access controls, to safeguard all sensitive practice and patient information. We are HIPAA compliant and committed to staying up-to-date with the latest security standards and best practices in the industry to ensure your data is always protected.
How do I get started with IrisMed?
Getting started is easy! Contact us today to schedule a personalized demo. We'll show you how IrisMed works, answer all your questions, and demonstrate how our AI-powered platform can transform your practice's revenue cycle.