Launched amid the Covid-19 pandemic, the Optometric Business Tracker (OBT) is a collaboration between GPN Technologies and Eyecare Business that reveals sales and exams data from more than 2,400 practice locations across the country.
In 2022, we’ll continue to reveal crucial takeaways tracking practice exams and patient payments, plus frame, lens, and contact lens sales, but in a more easily digestible, focused way to address practice information needs heading into a new chapter of the pandemic.
Embark on the journey into the new year armed with critical intel and key trend takeaways with the state of optical sales and exams in clear view.
Change vs. Same Month Last Year
(January 2022 % changes vs. January 2021)
Change vs. Previous Month
(January 2022 % changes vs. December 2021)
Last 12 Months Change vs. Prior 12 Months
(2022 % changes vs. 2021)
Practice Pearl
Authored by Ron Krefman, O.D., FAAO, founder and CEO of Focal Center and GPN data scientist, this key data takeaway suggests that by limiting the number of frame brands and vendors, ECPs can maximize discounts, payment terms, and co-op funds; simplify ordering and inventory management; optimize rep service and visit time; and strengthen strategic vendor partnerships.
“While intuition might suggest that higher frame unit sales must be supported by an increasing number of brands, conventional practice management wisdom says the opposite: Less is more,” he notes.”
A sample from the GPN database containing millions of frames transactions over the past three years from thousands of ECP locations across the U.S. reveals the following quartiles defining frames sold per brand ratios:
| QUARTILE | Frames/Brand/Door/Month Minimum | Frames/Brand/Door/Month Maximum |
|---|---|---|
| 1st (0-25th Percentile) | 0 | 2.73 |
| 2nd (26th-50th Percentile) | 2.74 | 3.54 |
| 3rd (51th-75th Percentile) | 3.54 | 4.79 |
| 4th (76th-99th Percentile) | 4.79 | 62 |
WANT MORE? Dr. Krefman unpacks more on this mindset in his blog post on eyeTHRIVE here: bit.ly/3noLgwn.
Practice Resources
GPN is using its eyeTHRIVE business solutions channel (eyeTHRIVE.net) to offer timely webinars and resources to ECPs. The open-forum webinars feature some of the industry’s most successful O.D.s, practice management consultants, and business owners. eyeTHRIVE members are invited to attend live webinars, view recorded presentations, download useful tools, and participate in live Q&A sessions with industry pros.
- All industry data provided by GPN: gpntechnologies.com.
- For more information, go to eyeTHRIVE: gpn.iljmp.com/2/yxbhc.
GET MORE INDUSTRY DATA TRACKING
Visit eyecarebusiness.com/optometric-business-tracker monthly as we reveal the real-time data on countrywide practice sales and exams—provided by GPN.
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