IDOC expands services with new vendors, bookkeeping tool updates

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IDOC, an optometric alliance and practice management company, announced 12 new partnerships with vendors for 2024, ranging from manufacturers to training institutes, according to a news release. Additionally, Books & Benchmarks, which is overseen by IDOC, has added new metrics to its benchmark reporting tool to help optometric practices manage staffing and marketing measures.

Books & Benchmarks

Monitoring practice performance just got easier through Books & Benchmarks with the additional of 6 dashboards to the program that utilize metrics on non-OD staff, optometrist staff, cost of goods sold, physical space, and marketing initiatives. The program will then be able to break down financial statements per each category. This information can help practice managers answer questions regarding when to hire more staff, how labor costs compare to other practices, how productive the practice’s eye care providers are, and if the practice has enough space for future growth.¹

“I am excited to bring this new offering to our Books & Benchmarks clients,” said IDOC Director of Financial Services Nathan Hayes in a news release. “The benchmark report has become even more powerful as we diversify the data input. Being able to identify trends and compare data to other practices is very useful for owners. We look forward to accelerating the growth of the service and continue to create innovative products for independent optometry.”

Additionally, these cost metrics require minimal maintenance, only requiring 4 data points from a practice every month.¹

For those interested in taking advantage of the benchmarking tool can contact the Books & Benchmarks team for additional information.

New vendors

IDOC now boasts over 60 vendors that the company provides pricing discounts, rebate programs, practice support, and resources to in part of their partnerships.²

“This expansion of our portfolio provides new choices for members that will fill critical areas of support for practices,” said Ilana Carlisle, IDOC’s director of strategic partnerships, in the news release. “We are excited to bring these new opportunities to our members and continue to grow these partnerships over the next year.”

The new partners include CooperVision Specialty EyeCare, Frames Data, Jonas Paul Eyewear, Leonardo Learning, Optical Training Institute, OneSpot Billing, RLVNT, Selin Olmsted Studio, Shamir, Transition Lenses, Topcon Healthcare, and Younger Optics. Benefits for members from these new partnerships include access to Blanchard, Paragon, and SynergEyes products, as well as productivity software and educational services, among others.²

Contact lens providers, product distributors, dry eye treatment producers, equipment manufacturers, financial institutions, eyewear frame producers, office resource companies, optical labs, and practice management are among the businesses partnered with IDOC. The company also has a member base of almost 3000 individual eye care providers, which expands practices’ buying power with lower costs on products, services, and equipment. Select members are also eligible to choose between growth-based rebate programs and business analytics tools.³

“We form these partnerships based on criteria that align with our core values and mission. Our focus has always been on empowering independent practices, and we want to partner with vendors who support that goal,” stated Dave Brown, IDOC CEO and president, in the news release. “We are confident that these new partners will be a great addition to our community.”

To learn more about all IDOC’s vendor partnerships, visit the company’s website.

References:

1. Beyond bookkeeping: Industry leading financial benchmarks. Books & Benchmarks. News Release. Published February 13, 2024. Accessed February 14, 2024.

2. IDOC announces new vendor partners for 2024. IDOC. News Release. Published January 30, 2024. Accessed February 14, 2024.

3. IDOC Partners. IDOC. Website. Published 2023. Accessed February 14, 2024. https://idoc.net/partners