Each month, OptoMetrics brings you metrics that allow you to compare aspects of your practice with the practices of your colleagues. These benchmarks are based on extensive and ongoing surveying of O.D.s like you, who have completed the MBA program, sponsored by CIBA VISION and Essilor.  The full report "Key Metrics of Optometric Practice," from which these select findings are drawn, can be downloaded: www.mba-ce.com.

Contact Lens Sales Share of Gross Revenue 

Optimization indicator of:

• Sales mix of daily disposable, monthly replacement and two-week replacement contact lenses
  
• Presentation of contact lenses to all appropriate candidates
• Sales mix of higher performance contact lens types such as torics and multifocals
  
• Retail pricing strategy
• Annual supply sales ratio
• Capture rate of patients’ total contact lens purchases
  

Optimum tracking scope and frequency: 

• Monthly, quarterly, annually
• Total practice

Average contact lens percent of gross revenue is 16.2% in independent optometric practices.

Top 20% of performers generate 27% of gross revenue from contact lens sales, 69% above the overall median.

Practices with a contact lens revenue share below 12% should examine:

Weighting the practice contact lens mix toward more profitable daily disposable and monthly replacement contact lenses and away from less profitable two-week replacement contact lenses when appropriate

Office processes to assure that all appropriate candidates are presented an opportunity to try contact lenses

If a process is being consistently implemented to encourage annual supply purchases of contact lenses

If the practice is an early adopter of new contact lens technology

If patients are routinely encouraged to upgrade to the latest technology lenses

Retail pricing strategies to assure pricing is competitive