Practice Metrics

Using Dashboard Management Technology to Increase Practice Value

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Feb. 5, 2020

When you attempt to sell your practice, prospective buyers will want to know the details of your current revenue generation and expenses. They also will want to know the potential for growth in profitability after the sale. Here is how dashboard management, powered by a system like EDGEPro by GPN Technologies, can help you get on top of your key metrics, and boost your practice sale price.

MAKE ESSENTIAL IMPROVEMENTS. The ability to track metrics like percentage of AR lenses sold, and capture rate, allows you to make the kinds of improvements that will build your practice value over time.

WELL WORTH THE INVESTMENT. The relatively small investment required to use dashboard management technology will be quickly made up in the strong return on investment of a practice with higher revenues that can then be sold for a higher price.

GET AHEAD OF BUYERS. Potential buyers will calculate how much they can improve the practice after buying to improve revenues, taking note of all the money you have left on the table by not making those improvements yourself. Dashboard management allows you to get ahead of buyers in making those enhancements to your practice yourself, so you can profit yourself from the additional revenues generated.

 

Brandon Blaker, OD, is founder of Hill Country Vision Center, with six locations in South Texas Contact: bblaker575@yahoo.com.

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