News Briefs Archive

How Does Your Practice Compare to Other OD Practices?

July 31, 2019

CareCredit, a Synchrony solution and provider of patient financing, has partnered with Glimpse, a division of ABB Optical Group, to produce a new Independent Optometry Key Performance Metrics Trend Report, now available free for eyecare professionals.

As part of a continued effort to invest in the optometric industry, CareCredit has partnered with Glimpse to develop this latest trend report. Based on data derived from more than 500 independent optometric practices across the country, the report details industry benchmarks including gross revenue, revenue per patient, total eyewear revenue and other important information providers can use to better evaluate their practice performance.

“This report gives practices some very valuable ‘big data’ they can use to objectively
assess their relative performance as compared to their peers and to identify areas of potential growth and improvements,” says Randy Baldwin, vice-president of marketing at CareCredit.

Findings shared in the 2018 KPI Trend Report include that the average patient volume declined 5 percent from the previous year while average per patient revenue increased by 5 percent.

In addition, eyewear sales increased consistently throughout 2018 and accounted for 42 percent of gross revenue — yet the total gross revenue practices received from eyewear sales trended down, declining 8 percent from the previous year.

To review the whole report, optometric practices can view it for free HERE.

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And join more than 35,000 optometric colleagues who have made Review of Optometric Business their daily business advisor.
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And join more than 35,000 optometric colleagues who have made Review of Optometric Business their daily business advisor.