Analyzing VSP Report

So that we truly understand the opportunities we can find by analyzing this report, I have two VSP reports for us to review. These reports are from practices from two different states, so the VSP averages listed on each of these will be slightly different, however these practices' VSP patient base are similar in size. 

As we look at our VSP report, we went to first look at our practice overview. on the right you will see the July 2019 to June 2020 summary and located below that, you will see where your practice stands against the VSP state average of your location. This report will show you your average receipt per patient for your VSP patients only. Make a note that this average per patient does not take into consideration the cost of goods or the chargebacks. Next, you will see your total VSP claim payments, your gross VSP revenue, and your net VSP Revenue. Your net VSP revenue should be what you want to look at compared to your gross VSP revenue to truly understand what your VSP is doing for you.

The next section is your patient demographics, also based on your VSP patient base. This section can be used for a number of reasons, one to help with your optical dispensary management and then determining which styles of frames you should be looking for based on age and two, help determine your target demographic for any marketing campaigns based on your VSP patient database.

On page four, you will see your total claims and payments. This page helps to break down the plan types that you accept and the number of patients within each plan type. The following page reviews patient focused eye health, when submitting patient conditions, you have the ability to further elevate your position on your patients wellness team. And you also have the opportunity to receive additional revenue. The truth is, VSP already knows the estimated percent of cases in your area. By reporting it, diabetes and/or retinopathy, you will receive an additional $5 per claim and by reporting hypertension and/or high cholesterol, you receive an additional $2 per claim. If you are reporting already, this section will show you your percent reports compared to the estimated percent of cases in your area.

Page 6, reviews the number of lenses you have sold in each type of lens, including contact lenses and your dispensing percentage and this allows you to compare your numbers to the state average.

As we begin to review page 7, progressive lenses, enhancements, and materials, you will really begin to see the opportunities emerge when looking at specifically this practices progressive lens count. By providing the patients with optimal visual performance through eye wear, you really want to ensure that you are using a progressive style O or N. These are your digitally enhanced progressive that provide your patients with a much higher quality progress, therefore with the right prescription, a better visual experience. You will also see your anti-reflective count. It is recommended that your lenses come with an anti-reflective coating. Compare this number to your lens count from above to get the percentage of where you stand on recommending anti-reflective lenses. You will also have the chance to see where you stand with other lens enhancements, such as photochromics.

Use the last page of the VSP practice report to understand where you are with frame sales covered by VSP and this page also allows you to review your frame capture rate within your VSP patient base.