GPN Technologies, the creator of the EDGEPro platform has announced its lineup of new features for its users. The technology company has been leading the way in practice analysis software since 2008, offering real-time, standardized business intelligence reporting to thousands of practice locations across the country.
In keeping with its dedication to offering big-business tools to independent practitioners, GPN Technologies continues to enhance its software offering with new options designed to help practice managers and business owners measure and manage their practices and drive revenue more productively.
2018 EDGERanks Released
In its second year, EDGERanks has become a highly-sought-after report that allows practitioners to measure their own practice performance against national or regional results. The report is published twice yearly, and covers a 12-month period of results.
The results just released cover the 2018 calendar year. EDGEPro users are able to use the EDGERanks to determine how their practice revenue and benchmarks compare to other practices.
Where to Find it in EDGEPro:
From the top menu, hover over “Business Overview” and select “EDGEPro Rankings”
How to Use it:
Practice performance is broken out into Two categories:
Business Performance includes four KPIs:
1) Collections per exam
2) Clinic revenue per exam
3) Optical revenue per exam
4) New patient ratio
Optical Performance includes nine KPIs:
1) Eyewear revenue per exam
2) Average frame sale
3) Average lens sale
4) Complete eyewear capture rate
5) Frame capture rate
6) Lens capture rate
7) % AR lenses sold
8) % Transitions (photochromic) lenses sold
9) % polarized lenses sold
EDGERanks shows the user where their practice falls when measured against other practices in the sample. Results can be viewed within national sampling or by region.
Performance By Manufacturer
EDGEPro has always offered strong, brand-level sales data for frames, lenses, and contact lenses. The interface now allows practitioners to view product performance by manufacturer. This enables users to understand and prioritize the value of various vendors, and evaluate participation in manufacturer-level programs.
Where to Find it
Performance by manufacturer is found on our Practice Breakout report. You can toggle between brand-level and manufacturer-level sale statistics by clicking the “By Manufacturer” option at the top of the report.
How to Use it
Switch to “by manufacturer” when you need to see how an entire line or collection of frame brands is performing. This is tremendously helpful in terms of understanding how all the parts of your overall frame board real estate are working together, and makes it easier to coordinate with your frame reps, alliance rewards programs, and so on.
Make sure you take both quantity of units sold and revenue generated into account when you’re analyzing your frame performance. Some lines may be major revenue generators even in smaller quantities.
U & C Sales Reporting
For more than a decade, EDGEPro has emphasized the importance of actual receipts as the standard for sales figures. Now it also offers detailed list price information on its basic sales reports, helping users to better correlate the list or U&C sales production reports offered by most EHRs to the actual rate of production detailed in EDGEPro. The new view also enhances understanding of rates of discount and performance under specific managed vision care plans.
Company COO, Evan Kestenbaum says that “Gross price, in and of itself, is never sufficient to effectively manage practice productivity. If that’s the only number you have, you don’t have enough. Being able to see it side-by-side with new business and actual collections is extremely helpful, though. It gives us a much more complete picture of practice activities, sales, and discounts.”
Where to Find it
Open the sales summary report (under “Advanced Reporting” on the top menu). All three EDGEPro reporting structures are available in the price toggles above the report. Click any price option to add it to the report.
How to Use it
List price (U & C pricing) in our report makes it easier to understand how the EDGEPro numbers relate to the reports your PMS production reports. It’s still critical, and a core EDGEPro philosophy, to judge productivity and revenue performance by actual receipts and post-discount sales figures. Having the U&C / List price readily available gives a more complete picture of performance.
Expanded Support for Practice Groups
More and more practitioners are participating in multi-location practice structures, whether through buying groups, professional associations, alliances, or partnerships.
Organizations and consultants that assist and / or manage dozens of businesses are always eager to find ways to better support their participating locations, and GPN Technologies has been working steadily to create meaningful tools in EDGEPro to help enhance those relationships.
New grouping options allow these alliances and consultants to work with their participating practices more quickly, and with more precise, detailed information.
Where to Find it
The new “CEO” option has been added to the upper menu of EDGEPro. Hover over this to choose the “Daily Location Detail” option. This opens a well-organized snapshot of location performance in 10 high-impact Key Performance Indicators (KPIs) across four time-periods, most recent business day, week-to-date, month-to-date, and year-to-date. Results are automatically compared to the same period, prior year, allowing one-click, easy-to-see trending. Switch between practice locations with a convenient drop-down.
How to Use it
Keep a close eye on each location’s performance with just a few minutes of time. Critical KPIs are organized in a layout that highlights and emphasizes any trends immediately. This single-look report is the easiest way to keep your finger on your practice pulse across multiple locations without investing hours gathering and organizing data.
“We have the best clients in the world. They give us great feedback on their needs and priorities,” says GPN Technologies’ CEO ED Buffington. “We are always very gratified when we can transform their suggestions and ideas into working tools to help them improve their businesses.”
GPN Technologies will be at Vision Expo East, in Booth #MS4746, and is offering tours of the EDGEPro software and its new features during the conference.
About the Author
Heidi Della Pesca
Marketing Content Director, GPN Technologies
Heidi Della Pesca has been closely involved with GPN Technologies and the EDGE platforms since their inception. She has worked with every team in the company, and is currently involved in overseeing content for our marketing programs.
Year-End Practice Performance Webinars
Visualize Your Success in 2020!
Learn how to maximize profitability and productivity from leading industry experts.