The American Society of Ophthalmic Administrators (ASOA), in partnership with BSM Consulting, has launched a new initiative called ASOAnalytics – an online benchmarking database for ophthalmic practices.
The database, which will be built through continuous brief surveys of participating ophthalmic practices around the country, will deliver important real-time practice management data to ASOA members. Over the next year, a series of five benchmarking surveys will be available on Practice Demographics, Provider Productivity, Staffing Productivity, Clinical Staff Wages and Salaries, and Revenue Cycle Management. Additional surveys will be added in future years.
“It’s not enough to rely on gut instincts when making business decisions about our ophthalmology practices,” Hayley Boling, MBA, CEO of Boling Vision Center, LLC in Elkhart, Indiana, and an active member of ASOA. “By collecting data in manageable ‘bites’ spread over time, this new resource will enable practice managers to receive comparative data, analyze trends and compare ourselves to national benchmarks. Ultimately, we’ll be able to make better-informed decisions — a particularly important ability as all of us in health care are increasingly forced to do more with less.”
To promote the benefit and value of this new initiative, the first two surveys – Practice Demographics and Provider Productivity – are complimentary for current ASOA members. Beginning with the third survey – Staffing Productivity – an annual $250 subscription will provide members with continued, exclusive access to this unique database of key metrics through the ASOAnalytics user interface and will be able to access relevant reports to compare their own practice to others in real time.
“Practices want to know how they compare to others, whether by compensation, revenue generation or operating costs,” ASOA President Daniel Chambers, MBA, COE, said in a company news release. “With ASOAnalytics, members will have access to this type of information.”
An official announcement will be made when the first survey goes live. Visit ASOAnalytics.com for more information.