Benchmark and Give Your Practice a Distinct Competitive Advantage
The AcadeMetrics™ Benchmarking Tool provides valuable insights to help privately owned ophthalmology practices measure financial performance and practice efficiency. Past participants have used insights from the benchmarking tool to increase revenue per encounter, add new staff and more. Fiscal Year 2017 data collection is open!
Accessing the Benchmarking Tool
- Register to use the tool for the first time.
- Follow the steps for returning users to enter your data.
- Fill out the data-collection worksheet. (Start early; you may need 3 hours or more.)
- Sign in to start entering your fiscal year 2017 data.
Reporting and Comparison Tools
Results are available for any year in which you completed a minimum of 50% of the survey and answered all required questions:
- Sign in to your account. If you forgot your password, use the password reset feature.
- Edit your responses and/or supply additional data at any time, just be sure to save your changes.
- Use Question Comparisons to compare your responses for every question.
- On the Personalized Reports tab, select a report to download. All reports compare your responses to your peers and include a comprehensive set of Key Performance Indicators in either tabular format (Word), charts (PPT) or trends across four years (PPT).
- Use filters to select subsets of data for both the compare pages and report downloads.
- Switch between years using the dropdown on the right side of the menu or from the progress chart on the home page.
Who Can Participate
Any privately owned ophthalmology practice of one or more physicians can participate. The following organizations may not participate:
- Academic practices
- Integrated delivery system
- Independent practice association
- Management services organization
- Physician practice management company
- Free-standing ambulatory surgery center
- Medical school facility practice plan
- Medical school clinical science department
- Any other type of organization that owns, manages, or provides services to medical practices.
How It Works
- Practices enter data from the prior fiscal year, either in one or multiple settings. All information remains confidential.
- The tool saves data entered each time you log out.
- Click submit once you’ve entered all data.
- If you need to make a change, log in to your account, update your data and click submit.
Documents You'll Need
Download the following documents to help you gather your data:
In order to expedite data entry, gather the following information before beginning:
- Profit and loss statement (also known as an "income statement") for the past year
- Injectable drug revenues and costs if not detailed on the profit and loss statement
- Clinical charges, contractual write-offs and collections by doctor for the year
- Payroll reports showing compensation and hours by employee for the year
- W-2 compensation for practice optometrists
- CPT code reports showing the number of times each CPT code was billed during the year so that you can calculate the number of encounters
Optional: If your practice management system has reports that show Work RVUs (many do), please have those reports available to include that data in your submission. Additionally, if the practice has an optical, gather this information as well:
- Optical profit and loss statement
- Payroll reports for the opticians
- Number of optical jobs sold, if available (This typically requires manual tracking).
Please note that data submitted by your practice is confidential. Your response will not be seen by other participants. Identifiers specific to your practice will be stripped from the final data set, and the number of data sets displayed in the reporting tools (either the complete aggregated set or any filtered set as defined by the user) must equal to or be greater than 10 (ten).
The AcadeMetrics Benchmarking Survey is provided to you for your use as a member benefit. When you register your authorized data respondent for the project, you are acknowledging that you are voluntarily entering your practice's data for inclusion into the aggregate database, which is accessible by other Benchmarking Survey participants. We reserve the right to exclude data that appears to be erroneous or markedly inconsistent. The Academy will not display on its website nor share with anyone else except internal staff (if deemed necessary) through any other means (email, electronic document, printed material or otherwise) your registration information (practice demographics) either alone or in conjunction with your practice's data. Additionally, identifiers specific to your practice will be stripped from the final data set, and the number of data sets displayed in the reporting tools (either the complete aggregate set or any filtered set as defined by the user) must be equal to or greater than 10 complete data sets. The Academy is adhering to the requirements set forth by the Department of Justice and Federal Trade Commission regarding benchmarking practices, and it can not be held liable if by chance your practice is identified by another member.
Should the registered authorized data respondent leave the employment of the practice submitting your practice data, they are to immediately cease use of the benchmarking password and username. You acknowledge that it would be a violation of civil and criminal law should your registered authorized data respondent access your private, proprietary data after they have ended their employment with the practice. You further understand that providing access to the benchmarking database to any other party other than the authorized data respondent registered for your practice is also a violation of the law and subject to applicable punishment. The benchmarking data is provided for your use only and should not be forwarded, posted, emailed, reproduced or published in any on-line, print, or electronic media.