• 3 Reasons You Should Benchmark Your Practice

    Through the AcadeMetrics™ benchmarking tool, privately owned ophthalmology practices can get vital insights on their financial performance and practice efficiency. Participation is free for Academy and AAOE members, but requires you to gather detailed information about your practice.

    3 Reasons to Benchmark

    1. Catch problems when they’re small. “In an era of declining reimbursement and rising expenses, we do not have the luxury of discovering problems that imperceptibly worsen over a period of years until they have finally reached a crisis point.”
      – Robert Wiggins Jr., MD, MHA, Academy senior secretary for ophthalmic practice.
    2. Get essential insights on your practice’s performance. “Once you participate, you will wonder how you ever got along without these figures. You will be amazed. … When you gather this material and present it to your owners, they are amazed at the amount of data that you can clearly explain.”
      – Sue Loen, practice administrator
    3. Identify variance between locations. “We used the cost per visit median number to help us analyze how each of our locations is performing according to our peers. That prompted good discussion about why he had such variation between locations.”
      – Ann Hulett, CEO of EyeHealth Northwest, PC

    How to Benchmark Your Practice

    Don’t miss your chance to gain these valuable insights on how your practice compares to others.

    1. Use the AcadeMetrics questionnaire (pdf) to gather all needed reports and information before you begin.
    2. Register your practice for the first time or sign-in using the login from previous years.
    3. Enter your fiscal year 2016 data by June 15, 2017. For a first-time practice, allow at least three hours to enter information.

    Questions? Contact the AcadeMetrics support staff or visit aao.org/academetrics for more information.