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C. Kent

UNIQUE FREE ONLINE PRACTICE MANAGEMENT

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San Clemente, CA. January 26TH 2006 – C&E Vision has released its free web based financial simulation model, providing the Independent Eyecare Professional (IEP) with the ability to quickly and simply benchmark significant aspects of their revenue and operating costs of their practice. The Independent Eyecare Professional Benchmark Analysis model also provides the IEP the opportunity to test the potential impact on bottom line profit effects of many “what if” decisions the IEP might make regarding their service and product mix. Simply stated, it is a way for the IEP to analyze and compare the financial performance of his or her practice with a “typical” practice of similar size and revenue characteristics. Steve Wagner, a Principal of the C&E Vision Services Buying Group, states: “although all practices are different and the model results are estimates, the analysis will provide the IEP with an interesting and beneficial understanding of what changes will most affect his or her bottom line. We believe a simple one-time session will provide the IEP with informative insights.

 

There are two web versions of the IEP Benchmark analysis. The guest version (www.cevision.com/iep/) has limited input options, while the C&E Vision Services RewardsPlus member edition provides a comprehensive input matrix for numerous variables, including the relative percentage of the IEP professional services, the pricing of these services and related direct costs. For example, within the model’s revenue input matrix, a C&E member can test changes in exam fees and create a simulated practice that focuses more on contact lens exams and high end frames. The combination of input variables creates a limitless view of practice characteristics and possibilities. Steve Wagner states, “With the C&E advanced members edition, professionals can create a view of what their dream practice might look like. It’s possible that fewer patients sometimes results in more profit, it all depends upon the nature of the practice.”

 

“It’s amazing how just two input variables can turn out a realistic profit and loss statement”, comments Dennis Leung, OD of Los Angeles County California. He goes on to state “it’s so simple to play with the program to get a feel of the economics of my practice. I wish I had this model 20 years ago.”

 

Steve Wagner said, “I developed the model as a thank you to C&E’s loyal buying group members and it is my hope that it might assist all independent practicing professionals.” Prior to becoming a principal of C&E Vision, Mr. Wagner was a CPA and financial advisory services consulting partner with a large international accounting firm.

 

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Background:

C & E Vision located in San Clemente California, is one of the oldest and largest buying groups in the United States with over 5,000 members. C&E was established in 1982, at a time when the proliferation of large retail optical chains began to change the competitive landscape, as a resource for independent eye care practitioners to pool and enhance their purchasing power with major optical suppliers throughout the nation. C&E offers its members the maximum discounts from over 170 of the eyecare industry’s leading product and service vendors.

C & E Vision offers its members the ease of on-line consolidated statement billing for all of their optical products and services purchases. C&E provides eyecare industry societies and associations with affinity programs to financially support both the organization and their member’s annual dues. C&E is dedicated to the advancement of knowledge and education through its continuing education programs and sponsorships. Nearly 1,400 professionals attend C&E’s Ocular Symposiums each year.

 

 

Publish Date: 01/26/2006

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