A glimpse of what’s happening in other ECPs’ practices.
Nov. 8, 2023
With inflation still a challenge in the economy, and businesses still in stiff competition for talent, Jobson Optical Research reached out to eyecare professionals (ECPs) for its latest ECPulse Survey to find out how they fared in areas such as pricing, staffing and cost-cutting, among many other facets of their business, in the third quarter of 2023.
Around half of eyecare practices surveyed reported difficulty in staffing their office. However, that is slightly fewer ECPs reporting difficulty in staffing than in previous quarters this year.
Most ECPs raised prices this year in some areas, but most did not raise prices across the board.
Where Have Prices Increased?
Lens and frames were the most common places in the practice where pricing was increased.
The majority of practices surveyed did not cut costs in the third quarter, but a significant number did, though slightly less than in previous quarters this year.
Where Are Costs Being Cut?
Buying fewer new products and reductions in current product inventory were the most common places where practices cut costs.
Where is Your Gross Revenue Being Generated?
The gross revenue was primarily generated across practices by providing “comprehensive, routine exams and related services.”