2012 Key Metrics of Hearing Practices
Practice Performance Comparisons
Practice Performance Comparisons
Total Hearing
Practices Your Practice
Characteristics Of The Practice
1. How many full-time and part-time office locations does the practice have?
Full-Time Locations: Median 1 Part-Time Locations: Median 1 2. What percentage of 2011 gross revenue was
attributable to each of the following products and
services? (Average %)
Fitting hearing instruments: Practice generated
patients 62%
Fitting hearing instruments: Referral networks 10%
Diagnostics 18%
Batteries/Accessories 4%
Other products and services 5% 3. What were the total collected gross revenues for the
practice during calendar years 2010 and 2011?
2010 Gross Revenue (Median) $504,104 2011 Gross Revenue (Median) $528,299 2010-2011 % Change (Median) +7.1% 4. What is the total square footage of all office spaces
for the practice? (only include space dedicated to hearing and audiology)
Median 1,200
5. How many full-time and part-time licensed hearing professionals work in the practice?
Full-Time Hearing Professionals: Median 1 Part-Time Hearing Professionals: Median 0 6. How many hours did ALL the licensed hearing
professionals in the practice work in 2011 (including both full-time and part-time licensed hearing
professional)?
Practice Performance Comparisons
Characteristics Of The Practice
Total Hearing
Practices Your Practice
7. Please break out 2011 percentage of diagnostics for the purpose of fitting hearing instruments vs.
diagnostics for the purpose of medical diagnosis. (Average %) Diagnostics for the purpose of fitting hearing
instruments 70%
Diagnostics for the purpose of medical diagnosis 30% 8. How many of each of the following office staff
members work in the practice?
Administrative Median 1
Audiologists Median 1
Physicians Median 0
Physician assistants/
nurse practitioners Median 0 Licensed Dispensers Median 0 Audiology Assistants Median 0
Oto-Techs Median 0
Other Median 0
Total Median 4
9. On average, how many hours each week is the practice open to see patients?
Median 40
Dispensing And Buying Hearing Instruments
10. What were the total number of hearing instrument units dispensed by the practice in 2011?
Median 250
11. What percentage of all hearing instrument units dispensed by the practice in 2011 were new fittings
and refittings? (Average %)
Practice Performance Comparisons
Dispensing And Buying Hearing Instruments
Total Hearing
Practices Your Practice
12. What percentage of all hearing instrument units sold in 2011 were sold at each of the total bundled fitting fee ranges? These ranges are inclusive of the
cost of the instruments. (Average %) Less than $1,000 8% $1,001 - $1,999 30% $2,000 - $2,499 26% $2,500 - $2,999 20% $3,000 or more 16% 13. What percentage of all hearing instrument units
sold in 2011 were in each of the following categories? (Average %)
Custom ITE 19%
BTE Standard 12%
BTE Power 7%
Micro BTE 10%
RIC (Receiver in the canal) 50% Extended Wear (Lyric) 1%
14. What percentage of hearing instrument units tried by patients were returned for credit or exchanged?
Practice Performance Comparisons
Total Hearing
Practices Your Practice
Bundling Vs. Unbundling
15. Which of the following describes the fee structure(s) your practice offers for hearing instruments and service?
Bundled pricing for instruments and
services 83%
Hybrid packages for hearing instruments
and service (partial unbundled pricing) 20% Unbundled hearing instruments and
services (completely unbundled pricing) 7% 16. [If multiple fee structures are offered] What
percentage of patients choose each of the following
fee structures? (Average %)
Bundled pricing for instruments and
services 69%
Hybrid packages for hearing instruments
and service (partial unbundled pricing) 20% Unbundled hearing instruments and
services (completely unbundled pricing) 8%
17. If you bundle or offer hybrid packages for professional services on hearing instruments, for what period of time are the professional fees included?
The duration of the “trial period” 4% The duration of the original manufacturer
warranty period 26%
The duration of the optional, purchased
extended warranty 10%
The lifetime of the hearing instrument(s) 50% 18. If you unbundle (or itemize) hearing instruments
and professional services, which of the following services do you charge for?
Hearing instrument examination 42% Hearing instrument 100%
Annual hearing recheck 46%
Dispensing Fee 71%
Electroacoustic analysis, binaural 29%
Practice Performance Comparisons
Bundling Vs. Unbundling
Total Hearing
Practices Your Practice
Verification 25%
Ear molds (if indicated) 88% Ear mold impressions (if indicated) 29%
Batteries 75%
Aural rehab 13%
Reprogramming after fitting 21%
Clean and check 33%
Cerumen management 50%
Follow-up visits 46%
Other 8%
19. What are your biggest hurdles to adopting unbundled or partially unbundled hybrid packaged instruments and services?
Belief that patients will not return to the clinic for follow-up services if they are billed for each visit (resulting in higher credit returns and lower patient
satisfaction)
65%
No one else around me is doing it 33% My practice is not sure how to bill for
services separately from hearing instruments
18% Too difficult to administratively manage
separate billing 27%
It's too complicated for patient to understand - simpler to bundle all the services, devices and supplies together
49% Practice is not sure what an appropriate
price structure should be 28% Practice will go out of business because
profitability is directly linked to hearing instrument markup
13%
Not comfortable charging for the hearing instrument evaluation if the patient does not obtain a hearing instrument
19%
Fear of the unknown 14%
Concerned about cash flow 17% Patients will go elsewhere 32% Will not be able to compete in my area 20%
Practice Performance Comparisons
Bundling Vs. Unbundling
Total Hearing
Practices Your Practice
20. [If hybrid packages are offered or unbundling is practiced] What has been the most positive impact on your practice from unbundling or offering hybrid packaged services (i.e., partial unbundling)?
Increased revenue from hearing
instruments 23%
Increased revenue from services 39% Ability to differentiate my practice from
the competition 33%
Improved competitive pricing 34%
Greater patient choice 41%
Other 23%
21. [If hybrid packages are offered or unbundling is practiced] What has been the most negative impact on your practice from unbundling or offering hybrid packaged services (i.e., partial unbundling)?
Decreased revenue from hearing
instruments 24%
Decreased revenue from services 7% Patients are confused with too many
choices 45%
Increased administrative costs 18% Increased hearing instrument returns 1%
Other 34%
22. If the hearing instrument is fit through a referral network (e.g., EPIC, Hearing Planet, HearPO) does your practice charge for follow-up visits and basic service, such as cleaning and checks, after the network contract period?
Yes 63%
Practice Performance Comparisons
Total Hearing
Practices Your Practice
Marketing Activities Of The Practice
23. What percentage of 2011 marketing expenses did the practice allocate to each of the following
activities? (Average %)
Direct Mailer Programs 16%
Newspaper Ads 24%
Radio Spots 3%
TV Spots 4%
Website Development/Initiatives 6%
E-mail Campaigns 1%
SEO Functionality (Search Engine Optimization) 2% Social Media Campaigns/Programs (e.g., Twitter,
Facebook, Blog, etc.) 1%
Pay-Per-Click Programs 1%
Physician Referral Programs 10%
Patient Referral Programs 7%
Newsletters 5%
Education Seminars 4%
Open Houses 6%
Other 9%
24. In total, and across all activities listed in the previous question, how much did the practice spend on 2011 marketing activities vs. manufacturers/ suppliers?
Practice’s Budget: Median $15,000 % of practice gross revenue: Median 3.6% Manufacturer’s/Suppliers: Median $1,000
% of practice gross revenue: Median 0.0%
Total: Median $20,000
Practice Performance Comparisons
Marketing Activities Of The Practice
Total Hearing
Practices Your Practice
25. How cost-effective were each of the following marketing activities in 2011 for generating new patients for the practice? (1=Very ineffective and 5=Very effective)
Direct Mailer Programs:
Average Rating 3.7 Newspaper Ads Average Rating 3.5 Radio Spots Average Rating 2.9 TV Spots Average Rating 3.2 Website Development/Initiatives Average Rating 3.5 E-mail Campaigns Average Rating 3.3
SEO Functionality (Search Engine Optimization)
Average Rating 3.5
Social Media Campaigns/Programs (e.g., Twitter, Facebook, Blog, etc.)
Average Rating 3.0
Pay-Per-Click Programs
Average Rating 2.8
Physician Referral Programs
Average Rating 3.9
Patient Referral Programs
Practice Performance Comparisons
Marketing Activities Of The Practice
Total Hearing
Practices Your Practice
26. Which of the following metrics do you track to determine marketing effectiveness and ROI?
Total Call Volume 48%
Appointments Scheduled 71%
Instruments Sold 85%
Other 12%
27. Which of the following methods do you use to track metrics, in order to determine marketing effectiveness and ROI?
Office management systems 63% Dedicated tracking phone number 34%
Excel spreadsheets 41%
Handwritten tracking forms 36%
Other 10%
Type of office management systems:
Blueprint Solutions 7%
HearForm 19%
Sycle 47%
TIMS 7%
Other 23%
28. Overall, how effective was the practice’s 2011 marketing program? (1=Very ineffective and 5=Very effective)
Average Rating 3.6
29. Does the practice develop a formal, detailed marketing budget prior to the start of each year?
Yes 44%
No 56%
30. Does the practice develop a formal, detailed marketing activities calendar prior to the start of each year?
Yes 44%
Practice Performance Comparisons
Marketing Activities Of The Practice
Total Hearing
Practices Your Practice
31. What percentage of the practice’s new patients was acquired through each of the following sources in
2011? (Average %)
Physician Referrals Program 26% Patient Referral Program 18% Print/Broadcast Ads 14%
Open Houses 5%
Direct Mailer Programs 12%
Walk-ins 8%
Website 5%
Education Seminars 2%
Other 8%
32. What percentage of all 2011 referrals came from
each of the following sources? (Average %) Primary Care Physicians 33%
ENT Specialists 28%
Senior Center Counselors 3%
Hospitals 2%
Nursing Homes 5%
Other 22%
33. Does the practice have a website?
Yes 84%
Practice Performance Comparisons
Marketing Activities Of The Practice
Total Hearing
Practices Your Practice
34. [For practices with a website] Which of the following functionalities are present on the practice website?
Appointment scheduling 27%
Medical history record updates 16% Patient satisfaction survey 13%
Patient testimonials 52%
Section to accept patient inquiries 60% Hearing information archive 67%
Educational videos 43%
Lead capturing system (e.g., for names and
e-mail addresses, etc.) 30%
Website analytics (e.g., Google analytics,
tracking traffic, etc.) 45%
Search engine optimization 46%
Practice newsletter 28%
Physician page 24%
Patient marketing opt-in 10%
Other 11%
Practice Care
35. What percentage of patients receive an in-office instrument technology demonstration as part of the practice’s counseling process?
Practice Performance Comparisons
Practice Care
Total Hearing
Practices Your Practice
36. Which of the following procedures does the practice routinely use for fitting and verification of hearing instruments?
Electroacoustics measures 40%
Speech in noise 53%
Front-to-back ratios 10%
Real ear measures 61%
Hearing needs assessment (e.g.
COSI, COAT, APHAB) 53%
Other 17%
37. What percentage of patients are recalled for hearing instrument cleanings at each of the following intervals?
Practice does NOT schedule recalls for
hearing instrument cleanings 19% Practice DOES schedule recalls for hearing
instrument cleanings 81%
Of those practices scheduling recalls (Average %)
Quarterly 32%
Semi-annual 40%
Annual 21%
Other 6%
38. What percentage of patients are recalled for hearing tests at each of the following intervals?
Practice does NOT schedule recalls for
hearing tests 26%
Practice DOES schedule recalls for hearing
tests 74%
Of those practices scheduling recalls (Average %)
Semi-annual 5%
Annual 71%
Practice Performance Comparisons
Practice Care
Total Hearing
Practices Your Practice
39. Does the practice routinely conduct satisfaction surveys to obtain patient feedback about the practice and the instruments dispensed?
Yes 38%
No 62%
40. [If satisfaction surveys are conducted] Does the practice routinely share the results from patient satisfaction surveys with hearing professionals and staff as a means of improving patient satisfaction?
Yes 92% No 8%
Compensation Practices
Please fill in personal income at your own discretion 41. Which ONE of the following categories bestPractice Performance Comparisons
Compensation Practices
Total Hearing
Practices Your Practice
42. Excluding ownership, does the practice provide licensed hearing professional with health benefits?
Yes 59%
No 41%
43. Which ONE of the following best describes the practice’s compensation plan for licensed hearing professionals?
Salary only 28%
Commission only 12% Salary plus commission 38% Salary plus bonus 22% 44. In total dollars, how much did the practice spend in
2011 on salaries/draws, commissions, and benefits for licensed hearing professionals employed in the
practice?
Total 2011 dollars spent on salaries, draws, and commissions:
Median $95,000
Total 2011 dollars spent on benefits (i.e., medical, dental, 401K, etc.):
Median $9,083
45. What were your practice’s total expenses in 2011?
This would include all personnel-related expenses such as salaries, draws, commissions, and benefits. It would also include all overhead costs such as facilities (rent, utilities, etc.), depreciation, office administration (payroll, billing, supplies, etc.), marketing expenses, training expenditures, insurance, and any other operating expenses incurred by the practice.
Median $339,100
About You
46. What is your gender?
Male 44%
Female 56%
47. In what year did you receive your audiology/dispensing license?
Median 1994
48. How many years has the practice been at its main location?
Practice Performance Comparisons
About You
Total Hearing
Practices Your Practice
49. Which of the following best describes your professional certification?
Doctor of Audiology (AuD) 39%
Audiologist (MA) 17%
Hearing Instrument Specialist 40%
PhD 3% Audioprosthologist 5% MBA 2% MD 1% Practice Administrator-related certification 1% Other 9%
50. Which ONE of the following best describes the setting in which the practice operates? (Please select all that apply.)
Medical institution (e.g., hospital, etc.) 12% Private practice dispenser 41% Network Affiliation (e.g., Beltone, Miracle Ear,
Audibel, etc.) 5%
Private practice audiologist or AuD 26%
ENT office 21%
Ophthalmology 2%
Optometrist 1%
Other 7%
51. Are you a buying group member?
Yes 40%
No 60%
53. What percentage of your practice’s hearing instrument purchases are through the buying group?
Median 90%
54. Which ONE of the following best describes your role in the practice?
Practice owner 57% Business manager 3% Director of audiology 14% Practice administrator 3%
Practice Performance Comparisons
Total Hearing
Practices Your Practice
2011 Performance Benchmarks
(Median)Gross revenue per full-time and part-time
professional hour $165
Instruments dispensed per eight professional
hours 0.65
Gross revenue per square foot $378 Gross revenue per non-hearing professional $146,667 Gross practice revenue per instrument dispensed $2,118 Instrument revenue per instrument dispensed $1,698 Instruments dispensed per full-time professional 162
Net profit $223,543
Net profit per professional hour $67
Net Profit margin 39%
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