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 who, like you, 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.

Gross Revenue per Square Foot

Definition: Gross collected revenue for a 12-month period divided by the total number of square feet of office space in all locations of the practice.
 
Most relevant comparison:
Gross revenue per square foot is highly correlated with practice size, and the most useful comparative norms are the practice size norms.

Optimization indicator of:

  • Space utilization efficiency
  • Patient flow through practice

Optimum tracking scope and frequency: 

  • Monthly, quarterly, annually
  • Total practice and individual locations

  

  • The median gross revenue per square foot is $361 in independent optometric practices.
  • Top 10% of performers generate $823 per square foot, 128% above the overall median.
  • Norms are most useful when planning relocation or space additions. Practices should project gross revenue expected within five years and use norms to define square footage requirements.
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