Each month, OBA Benchmarks brings you metrics that allow you to compare aspects of your practice with the practices of your optometric colleagues affiliated with Walmart and Sam’s Club. These benchmarks are based on extensive and ongoing surveying of affiliated ODs who, like you, have completed the OBA program. Other metrics, which can be applied toward practice growth, can be found
at:
www.oba-ce.com.
Managed Care Percent of Total Fee Income
Metric revealing effort to gain vision insurance plan accreditation
Benchmark: During 2009, third party insurance payors accounted for a median of 25 percent of total exam fees collected by affiliated ODs.
- The median affiliated practice is an accredited provider for eight vision insurance plans and spends three hours weekly filing vision insurance claims.
- Larger practices derive a somewhat higher share of their practice revenue from third-party payors.
- Affiliated practices in Sam’s Clubs derived a median of 20 percent of exam revenue from third-party payors, compared to 30 percent among affiliated ODs in Walmart locations.
- The 20 percent of practices deriving the highest share of exam fees from third-party payors had 60 percent of exam income from those sources in 2009. Among the 20 percent of practices least dependent on managed care, just 5 percent of revenue came from this source.
What’s At Stake: Patients with vision insurance seek out accredited providers. Expanding the number of accredited plans will increase the patient base and practice revenue.
Third Party Payors
Percent of Exam Fees
(Median)
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Go to
www.oba-ce.com to view other key performance metrics of affiliated practices.
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