What Is My Optometry Practice Worth?

Optometry has seen increasing PE consolidation activity, though it's earlier in the cycle than dental or veterinary. Solo practices still sell primarily to individual OD buyers, while multi-location groups attract corporate interest.

Typical Valuation Ranges

Solo practices: 2x to 3.5x SDE

Multi-location groups ($1M+ EBITDA): 5x to 7x EBITDA for PE or platform buyers

Factors that push toward the higher end:

• Strong optical (glasses and contacts) revenue (50%+ of total)
• Medical optometry capabilities (dry eye, disease management)
• Diversified payer mix
• Modern equipment (OCT, visual field, digital retinal imaging)
• Revenue above $1M with growth trajectory
• Associate ODs generating revenue

Factors that push toward the lower end:

• Exam-only practice without optical dispensary
• Owner generates all revenue
• Vision plan heavy (lower reimbursement)
• Aging equipment
• Declining patient volume
• Competition from online retailers compressing optical margins

Key Value Drivers

Optical capture rate: What percentage of patients who receive an Rx also buy glasses or contacts in your office? 60%+ capture rate indicates a strong dispensary.

Revenue per exam: Total revenue generated per comprehensive exam (exam fee + optical products). Strong practices generate $400–$700+ per exam.

Medical vs. routine mix: Medical eye care (billed to health insurance) reimburses higher than routine vision care. Practices growing their medical services are more valuable.

How to Increase Your Practice's Value

1. Grow your optical. Expand frame selection, add specialty lenses, and train staff to increase capture rate.
2. Build medical services. Dry eye clinics, myopia management, and disease management create higher-value patient visits.
3. Hire an associate. An additional OD generating revenue makes the practice transferable and more valuable.
4. Upgrade equipment. Modern diagnostic technology expands your capabilities and attracts patients.
5. Reduce vision plan dependency. Grow fee-for-service and medical insurance volume alongside managed vision care.

Browse the valuation multiples guide for industry data, or schedule a free call for a confidential valuation.