Top Line: Books & Benchmarks, powered by IDOC, has released its 2023 Optometry Benchmarks Report.
Specifics: The 2023 Optometry Benchmarks Report is an essential resource for eyecare professionals seeking to deepen their understanding of the performance of private optometry practices, according to Books & Benchmarks. It provides an in-depth analysis of key performance indicators (KPIs) and benchmarks that, the company said, are crucial for evaluating and improving practice efficiency and boosting overall business performance. The report features clear charts, graphs, and summaries that make complex data more consumable. The company said this design makes it easier to understand the data and integrate insights into individual practices. It highlights the seven key expense areas and offers practice benchmarks for comparison and goal setting including:
• Understanding Overhead and Profitability: A breakdown of the different sections of revenue and costs.
• Managing COGS: Proactive ways to control your COGS and what the ‘normal’ range is for a practice.
• Staff Compensation: Best practices for managing compensation and determining the best strategies to compete and retain staff.
Vital Stats: The 2023 Optometry Benchmarks Report is available for immediate download on the Books & Benchmarks website.