Comparing VSP Reports

Now, when comparing our two VSP practice reports, I want to specifically show you the difference between the practice overview, the lenses, and the progressive lenses, enhancements, and materials pages. 

Looking at our practice overview page, you will see that the VSP patient base for each of these practices is similar in size, but in the second practice, our VSP average per patient is 309 compared to that of our first practice at 245. Our net revenue also shows a difference of nearly $50,000. Why could that be? Where does the opportunity lie for the first practice to enhance their VSP net revenue and to increase it to reach that of the second practice? When looking at the comparison of our lens dispensing counts these practices are pretty close to the number of jobs ordered or dispensed. However, the first practice has the higher number of overall jobs, so why was our net revenue lower? 

When looking at progressive lenses, enhancements, and materials you will see that the first practice has a much higher count of progressive F lenses when looking at our progressive lens options. The second practice has provided their patients with a progressive N or a progressive O. Next, the first practice sold a total lenses, excluding contact lenses, of 522 and of that only 263 or 50% of these orders included an anti-reflective coating. The second practice sold a total of 413 jobs, of that 306 or nearly 75% of these orders included the anti-reflective coating. Immediately we are able to see the opportunity to not only increase our revenue, but to ensure that we are providing our patients with the best quality eyewear. 

I wanted to show you this comparison to help you identify which areas of this report you may need to review to really find the best opportunities for your practice. There are a number of factors that take place and the difference between each of these is going to vary based on your practice. The idea is that, if we see the opportunity and if we provide our patients and our team with the education and the recommendations needed to ensure we are providing our patients with the best visual performance available, we will be able to increase that revenue. Please upload your VSP practice report at the checkpoint to follow, so that we can review this information with your executive management coach and with you directly.