VisionWeb announced it will pay $60,882 in royalties to participating AOA state affiliates. The royalties are for eye care product orders placed by their members on VisionWeb over the last 12 months.
This is the ninth year VisionWeb has paid royalties to the AOA for orders placed by its members to the VisionWeb supplier network of more than 400 suppliers in the United States. Since initiating the program in 2004, VisionWeb has paid a total of $319,667 in AOA royalties to participating state affiliates.
Further detail on VisionWeb’s AOA Royalty Program are available at www.visionweb.com
More than 1,000 accounts qualified to earn royalties this year, a 10 percent increase over last year. This participation growth is reflected n the royalty payout that increased by 12 percent over the previous earning period, making this the largest royalty payment in the program’s history.
“Eye care practices in the U.S. are relying on the efficiencies associated with VisionWeb’s online ordering services now more than ever, and that is especially evident in this year’s record-setting royalty earning” said Ken Engelhart, president and chief executive officer of VisionWeb. “We are thrilled to reward independent optometrists for adopting innovative technology and incorporating efficient processes in their practices through our AOA Royalty Program. It is exciting to see how the program has grown over the past nine years and we look forward to its continued success.”
The royalty program enables AOA members to automatically earn royalties for their state affiliates when they use VisionWeb to place their eye care product orders. To do so, members need to place a minimum of 1,200 orders through VisionWeb annually. Once this minimum threshold is reached, members are qualified to earn royalties. Each order placed through VisionWeb is associated with a transaction fee – the fee paid to VisionWeb by the supplier who receives the order – and the incremental royalty is calculated as a percentage of each fee.
Royalties brought in by all qualifying accounts are combined by state to determine the royalties earned by each participating AOA state affiliate. Participating AOA state affiliates receive royalties from VisionWeb, exclusive of any agreement they may have with buying groups. Ordering on VisionWeb does not interfere with buying group discounts or pricing relationships.
AOA members interested in this program can contact their affiliate to find out more. For further information on the program, visit www.visionweb.com or call 800-874-6601.