Is Your Optometry Practice Leaving Revenue on the Table?

Running a successful optometry practice requires more than providing excellent patient care — understanding the financial engine beneath the surface matters just as much. Many practice owners are unknowingly undercharging, underutilizing their procedure codes, and missing out on significant medical revenue. A Practice Performance Analysis is designed to address all three. 

An Objective Look  

A Practice Performance Analysis offers an objective, data-driven evaluation of your practice’s financial and operational health and uncovers the opportunities most practices never see coming.  It integrates data from your bookkeeping financials, practice management system, and payor reports to give practice owners a clear view of where they stand and where improvement is possible. The evaluation delivers actionable recommendations across three core areas: CPT procedure code utilization, medical optometry services expansion, patient and community demographics optimization. 

Are you coding — and charging — correctly? 

CPT procedure code utilization is one of the most overlooked areas of practice performance. Many practices underutilize their CPT procedure codes and their fee schedule pricing. A thorough analysis benchmarks fees against Medicare CMS standards and evaluates exam ratios — from comprehensive to problem-focused — to ensure coding reflects the full scope of care being delivered. Many practices find they’ve been leaving money on the table simply by not optimizing how patient encounters are documented. Small adjustments here can have an outsized effect on monthly revenue without affecting the quality of care. 

Medical Optometry: Where the Real Growth Lives 

Practices focused primarily on routine eye exams and optical sales often have an untapped revenue stream available to them: medical optometry. 

Conditions like glaucoma, dry eye disease, diabetic retinopathy, and macular degeneration fall within the scope of a well-equipped optometry practice, and, unlike revenue from optical sales, revenue from medical services carry little to no cost of goods sold. The result is higher revenue per patient encounters, better margins, higher net operating incomes and stronger long-term patient relationships. 

The Key: Your Patient Demographics 

Patient demographics and financial performance are closely connected. Understanding the age-related needs of a patient population helps align a practice’s service mix with actual demand. An older patient base, for example, points directly toward expanded medical optometry services, a shift that benefits both the practice financially and patients receiving more targeted care. 

Better Information Means Better Revenue 

The practices that thrive long-term understand their financial data, patient demographics, code appropriately, and identify growth opportunities.  A Practice Performance Analysis provides the foundation to do that — combining financial data, operational benchmarks, and patient demographics into a single evaluation that supports both profitability and high-quality patient care. 

Explore how a Practice Performance Analysis can uncover missed revenue opportunities, or schedule a call with Brad Rourke, CPA, ABV to learn more.