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Eyecare Business

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The Optometric Business Tracker

EB and GPN Technologies continue to share U.S. practice data with a refreshed + simplified focus on the state of the industry.

Eyecare Business September 1, 2023 Vol 37, Issue September 2023 Page(s): 30

Launched amid the Covid-19 pandemic, the Optometric Business Tracker (OBT) is a collaboration between GPN Technologies and Eyecare Business that reveals sales and exams data from more than 2,200 practice locations across the country.

Here, we share July 2023 practice data reported by GPN on Aug. 7. Compared with June 2023, July saw decreases in all categories. However, July of this year compared with July 2022 saw slight decreases in frames, spectacle lenses, and contact lenses; exams and patient payments were slightly up.

This month’s OBT “Practice Pearl” focuses on sales trends by generation.

Practice Pearl

Analyzing more than 4 million frame sales from 2,200-plus eyecare practices in the GPN database across the U.S., GPN sorted the results by share of transactions over the median list price for each generation.

The difference between sales and population shares by gender are illustrated below.

Generation Birth Year Age (in 2023) Share of Frame Sales Over Median List Price
Gen Alpha 2013 to 2023 Under 11 10%
Generation Z 1995 to 2012 11-28 40%
Millennial 1980 to 1994 29-43 57%
Generation X 1965 to 1979 44-58 59%
Baby Boomer 1946 to 1964 59-77 54%
Silent 1925 to 1945 78-98 43%
Greatest before 1925 Over 98 35%

Read more at visions.gatewaypn.com/are-generational-differences-affecting-frame-upgrades.

Practice Resources

The GPN Visions business solutions channel (visions.gatewaypn.com) offers 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. GPN Visions 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 monthly as we reveal the real-time data on countrywide practice sales and exams—provided by GPN.

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