Optical Capture Rate Analysis and Improvement
Optical capture rate compares the number of patients who received their prescription and the number of patients who filled their prescriptions at your practice.
Optical capture rate can be calculated a few ways; in this case, it examines the number of complete pairs of glasses sold divided by exams with refraction.
Importance of Capture Rate in Business
Capture rate is defined as the number of patients that get their eyes examined in your office and purchase their eyewear from you.
Selling multi-pairs is the most effective way to increase capture rates. Lifestyle dispensing generates higher average revenue per patient and increases patient satisfaction.
Strategies for Increasing Capture Rate
- Doctors should physically escort their patients to the retail optical area.
- Industry research confirms that lifestyle dispensing is beneficial for sales.
- Ensure recommendations are made for second pair options.
Monitoring and Evaluation of Capture Rate
- Factors impacting rate include offer breadth, brand strength, and competition.
- Other metrics like market penetration rate are similar in assessing performance.
- Statistics show the percentage of future samples falling within a confidence interval, impacting capture rate accuracy.
Why Capture Rate is Critical
Capture rate goes beyond win rate to measure the economic value of wins versus total bids, indicating quality over quantity.
Case Study: Successful Increase in Frame Capture Rate
Our current frame capture rate increased by 20% over three years. Achieved through consistent efforts to improve capture rate.
Implementation of Tech to Boost Capture Rate
Industry standard capture rate hovers around 75% for independently owned practices. Rates declined post-pandemic, necessitating tech implementations for improvement.
Comparison and Benchmarking
Your optical capture rate is one of eight benchmarks to monitor for better financial performance. Compare your practice’s performance with others to assess success.
Definition and Calculation of Capture Rate
Capture Rate measures the percentage of potential customers a business reaches. Calculated by dividing the number of customers by total potential customers and multiplying by 100.