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All benchmarked performance indicators showed a decrease when compared to last year's figures, with one exception. Solution sales increased by 6 per cent from December, and are 14 per cent above the January 2007 figures.
A stark trading year is expected by many and just one month in results indicated a fall in dispensing and sales. On average, it is only turnover which continues to show positive growth. However, this can also bring opportunities to the practitioner through appropriate targeted and planned marketing of the products and services they offer.
Over the past 12 months eye examinations have decreased by 2 per cent when compared to the previous 12-month period. In general, growth has been negligible or negative since January 2004.
The proportion of NHS eye examinations was 70 per cent this month. The average for 2007 was just under this mark and results are fairly stable around this point.
The total volume of dispensing increased by 8 per cent this month, but was still 22 per cent behind the results for last year. Over the year, dispensing fell by 4 per cent on average. All lenses were up from December figures: single-vision by 8 per cent, bifocal by 2 per cent, and progressive lenses by 15 per cent. However, when these were compared to January 2007, all showed a decrease - progressive lenses by more than 50 per cent. These negative swings all contributed to a decrease in the annual growth rates which are negative by between 4 and 6 per cent.
The proportion of spectacles dispensed this month which were reglazes was 15 per cent. December and November were 12 per cent and 13 per cent respectively. This is another indicator that patients are becoming more conscious about expenditure and choices. Dispensing rate was 65 per cent. Dispensing rate is calculated from total number of eye examinations and total dispensing, and hence does not take into account multiple dispensing. The figure for last January was also 65 per cent.
Reflection-free coatings were up by 31 per cent on December 2007, but down by 26 per cent on January 2007. Compared to the more modest increase from dispensing volume in December, this resulted in an increase in the proportion of spectacles with an AR coating from 43 per cent to 50 per cent. Interestingly, this also occurred in January 2006 and 2007. Volume of AR coats fell by 9 per cent over the year, whereas over the previous 12 months growth was positive, at 11 per cent.
New contact lens fits show little change from last January but fell 12 per cent from the high point in December. New contact lens fits are seen to peak at certain times of the year and December is one of the higher months. Growth was still negative at -3 per cent - less so than in recent months - but still declining. Optician Index will examine the changes in more detail later in the year.
While solution sales continued to decline, the average over the last year was -1 per cent, slightly less than the -2 per cent last year. Figures were positive this month, up 6 per cent from December and up by 14 per cent from last January. This just includes over-the-counter sales and not solutions included as part of a regular monthly standing order.
Total practice turnover results were up by 5 per cent from December. Figures were down by 2 per cent from January 2007. Overall it is pleasing to report a continuing increase over the past 12 months. Average annual growth is 5 per cent, positive since April 2006.
Spend per eye examination was down slightly this month, although this is not unusual for January. The figure was £135.56, compared to £145.27 last month, and £128.12 last January. The average for 2007 was £139.90 so results this month are below average for the year, but not a cause for concern as lower turnover per eye examination is quite usual for January.
When comparing your practice with the results it is important to note that all our figures are equated to a 25-day month, so year on year, month on month we can compare equal time periods. Please note all figures shown are adjusted to a 25-day month. January had 26 working days (excluding Sundays and UK Bank Holidays).
New contributors always welcomed. Benefits of participation include customised graphs and comparisons. Contributors are able to make enquiries, receiving feedback and results free of charge. There is also the opportunity to benchmark other aspects of practice management or sales against the whole sample. The service is completely confidential.
If a practice would like to contribute contact Louise Reynolds on 01622 851726 to discuss the benefits, no obligation, or by email to l.reynolds@businessbenchmarks.co.uk. ?