If you are using OfficeMate 12.0.3 or above, you have access to the business insights dashboard, powered by The EDGE. Here are some definitions of terms used in the dashboard that will help you better understand the information displayed in it:
Revenue: The patient's responsibility plus insurance payments that have been received. For example, if you saw two patients and one had an exam with a $20 copay and the other purchased eyeglasses for which they were 100% responsible for paying, the revenue is the overage due to the practice beyond the patient's insurance benefit and the private pay patient's out-of-pocket payment. This information is extracted from the Patient and Co-Pay columns on OfficeMate fee slips. The EDGE does not use information in the Insurance column on OfficeMate fee slips because it doesn't include write offs; The EDGE only displays the net amount.
Patient Responsibility: The amount for which the patient is responsible, whether or not they have paid. In other words, a promissory note on the date of service. Even if a patient picks up his or her eyeglasses a few weeks after the sale and pays the balance, the sale defaults to the date of service for production analysis.
Optical Revenue: The patient's responsibility for frames, lenses (per pair), add-ons, and accessories on transactions (in OfficeMate, frames, ophthalmic lenses, lens treatments, accessories, other, sunglasses, and ready reader products).
Clinical Revenue: The patient's responsibility for exams, contact lenses, and insurance payments (checks and EFTs) that have been received/collected (in OfficeMate, services). If you upgrade to the full version of The EDGE, you can view where insurance money is line itemized to a product.
Revenue Per Exam: The total revenue divided by the number of exams (refractions).
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