For eyecare professionals across the United States, the summer months have revealed a mix of losses and gains in terms of specific product sales and total number of practice exams as business recovers from the Covid-caused downslide of last year. However, overall patient payments have stayed positive.
Specifically, halfway through August 2021, frames and lenses saw the strongest declines in sales compared with the same time frame in August 2019. Exams were even lower.
“In August, the leading indicator to the eyecare market, exams, is down double digits compared with the same time in 2019,” says Evan Kestenbaum, co-founder and COO of GPN. “It’s interesting to point out that the rest of the market did not decline as much, which indicates capture rate increased on all product lines.”
Read on for the revealing real-time data from GPN covering more than 2,400 practice locations across the U.S., served up in partnership with Eyecare Business. We are tracking practice exams and patient payments, plus frame, lens, and contact lens sales from coast to coast on a biweekly and monthly basis.
» Industry data provided by GPN: gpntechnologies.com
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 from 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 semimonthly as we reveal the real-time data on countrywide practice sales and exams data provided by GPN.