This month, the GPN x EB Optometric Business Tracker data reveals that, while exams and sales showed tremendous recovery over March 2020 when shutdowns began across the country, they also showed healthy recovery over 2019’s pre-pandemic era. Most notable in recovery over 2019 numbers is patient payments, which jumped up 17% from March 2019 (1-23) to March 2021 (1-23).
“When looking at YoY (year over year) growth, we are seeing the impact of office closures from March 2020,” says Evan Kestenbaum, co-founder and COO of GPN. “Though the high YoY trend will continue over the next few months, it is critical to look at 2019 for a better baseline. The month of March reflects positive growth through either lens.”
Read on for the revealing real-time data from GPN covering more than 2,900 practice locations across the U.S., served up in partnership with Eyecare Business. We are tracking practice exams, patient payments, plus frame, lens, and contact lens sales from coast to coast on a biweekly and monthly basis.
METHODOLOGY UPDATE
Beginning in January 2021, the methodology of sampling has been updated to reflect traditional same-store sales year-over-year. As locations stop sending data throughout the year due to closures, sales, etc., they will either be replaced or removed completely from the sample for all prior years. Therefore, each month will have the same number of stores reporting. This is different than the 2020 methodology whereas locations that closed, merged, or stopped sending data were left in the sample as the Covid-19 crisis had an impact on them.
PRACTICE RESOURCES
GPN is using its eyeTHRIVE business solutions channel (eyeTHRIVE.net) to offer timely webinars and resources to ECPs. The open-forum webinars feature some of the industry’s most successful O.D.s, practice management consultants, and business owners. eyeTHRIVE members are invited to attend live webinars, view recorded presentations, download useful tools, and participate in live Q&A sessions with industry pros.
GET MORE INDUSTRY DATA TRACKING
Visit eyecarebusiness.com/optometric-business-tracker biweekly as we reveal the current, real-time data on countrywide practice sales and exams data provided by GPN.
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