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Financial benchmarking and salary surveys help you measure practice efficiency and identify areas for improvement.

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The Academy/AAOE AcadeMetrics™ benchmarking and salary surveys are Web-based surveys to help you measure financial performance and practice efficiency.

Academy and American Academy of Ophthalmic Executives members can now participate in two key surveys designed to help you benchmark your practice against others and identify areas of achievement or needing improvement. Not a member? Learn about Academy membership benefits for ophthalmologists and AAOE membership benefits for MDs and practice administrators.

Members can take both surveys at no charge. The Academy will report general findings from the surveys, but only members who complete the survey will be able to access the more valuable, detailed information that can help you pinpoint specific strengths and weaknesses in your practice.

AcadeMetrics: Ophthalmic Financial Benchmarking

Dates: Opens soon!
Focus: Practice financial metrics.

AcadeMetrics: Ophthalmic Salary Survey

Dates: Now open and runs continuously
Focus: Employee salaries

Why Benchmark?

Financial reports allow you to compare your practice’s performance from year to year, but how do you know if a good or bad year for you is good or bad for a practice like yours? With the benchmarking survey, you can see how other similar practices’ optical shops perform, how much they pay their optometrists, the number of collections per doctor and much, much more.

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What You Need for the Surveys

Surveys provides the most useful information when many practices participate, and each practice provides the same pieces of information.

  • Most of the numbers you’ll need to enter in the survey should already exist in your practice’s regular financial statements.
  • A few of the metrics in the benchmarking survey will require manual calculations.

Benchmarking Survey

The Academy’s fiscal year 2014 data collection period opens soon! E-mail to contact an Academy representative.

Salary Survey — Now Open

The Academy’s survey partner, BSM Consulting, recommends practices gather the following information for each staff member before beginning the salary survey:

  1. Position
  2. Hourly pay rate or salary.
  3. Number of hours worked per week.
  4. Number of years in current position.

In addition, review practice’s policies regarding:

  1. Health insurance
  2. Other insurances offered
  3. Paid time off
  4. Uniform allowance
  5. Vision benefits
  6. Whether a qualified retirement plan is offered
  7. Continuing education benefits
  8. Bonus plans for management and for rank and file employees.

Time to complete the survey is 10 to 30 minutes depending upon the size of the practice.