Time - Your Most Valuable Currency

You are in a 60 minute meeting where a co-worker is prattling on about something…you are not sure because you mentally checkout out minutes ago. Maybe you are thinking about the upcoming weekend.  Maybe you are thinking about something you need to get done at work.  Maybe you are sleeping with your eyes open.  I don’t know.  But what I DO know is---you will NEVER get that time back!  Oh…and one more thing, it’s not just about time…it’s real money too. Every minute you waste in a poorly run meeting costs your business $347!  Ok…that is something I got from Wikipedia. I’ll hit you with some facts in a bit.  

That dollar cost is not because of hourly rates (salaries), but because of what you could have done instead. This is the brutal math of opportunity cost—the hidden price tag of every decision. For busy professionals, time efficiency isn’t about doing more tasks; it’s about doing the right tasks in ways that compound value. Let’s break down three concepts that reframe time as your ultimate business asset. 

The Hidden Price Tag of Every Decision 

Opportunity cost is the profit you miss out on by choosing one path over another. It’s not just about money—it’s about: 

• Unavailability for Revenue Production what could you have been doing? Collecting money, scheduling a delivery, seeing a patient, modifying a device? 

• Missed market advantages while competitors act faster 

• Team burnout from inefficient workflows 

Example: Choosing to manually process remittances (8 hours/week) vs. automating it ($200/month tool). The “savings” of not buying the tool actually cost you 32 hours/month—time that could’ve been spent following up with payers communicating with referral sources. 

The formula is simple but eye-opening: 
Opportunity Cost = Return on Best Alternative - Return on Chosen Option 

Let’s say you are a clinician.  Based on data in OPIE, I know that the average value per clinical visit for a prosthetist is about $550. So if you spent 30 minutes in an unproductive meeting rather than seeing a patient, you experienced an opportunity cost of $550 unrealized revenue. 

Ok you say…I don’t get paid for every visit and I can see the patient later.  What if that missed opportunity delays your delivery by a day…Does that matter?  ABSOLUTELY! 

First, but probably least important, you can bill sooner (more on that later). But more importantly, research consistently demonstrates that earlier intervention provides better outcomes for first-time patients…we are talking about improved walking capacity, fall risk reduction, better mobility, fewer ER visits to name a few…What was the cost of that meeting? 

Why $1 Today > $1 Tomorrow 

The time value of money (TVM) isn’t just a finance term—it’s the reason delaying decisions erodes profits. Here’s why: 

• Inflation: At 3% annual inflation, $10,000 today buys what $7,440 will in 10 years. 

• Compounding momentum: Investing $500/month in marketing at 10% ROI yields $102,000 in 10 years vs. $60,000 if you start 3 years later5. 

But TVM applies beyond cash: 

• Resolving patient complaints promptly builds lifetime loyalty worth 10x the fix cost 

Real-world impact: Two companies invest $5,000. Company A invest in education and learns about creating efficient processes, earning an extra $12k/year. Company B waits 2 years, earning $12k/year starting in Year 3. After 5 years, Company A nets $55k; Company B nets $31k—a $24k gap from timing alone. 

The Invisible ROI of Time Efficiency 

While spreadsheets track dollars, these intangibles determine long-term success: 

1. The Morale Multiplier 
Teams using clunky processes waste 22 days/year on preventable frustrations. Efficient processes don’t just save time—they reduce burnout and spark innovation. 

2. Culture as a Growth Engine 
Companies that prioritize efficiency see 33% higher innovation rates. Why? Employees stuck in busywork don’t have mental space for breakthroughs. 

Time mastery isn’t about speed—it’s about strategic scarcity. Every minute spent inefficiently isn’t just lost; it’s actively costing you future revenue, team potential, and competitive edge. The math is clear: Prioritizing time value today compounds into market leadership tomorrow. 

Your move: This week, eliminate one meeting that does not add value to the company and fill that time with something that does add value. That’s the power of treating time as your highest-value currency.