Private Practice Eye Care Providers (PPECPs):
- are LOSING 2 to 4% market share per year
- provide 65% of the eye exams and only supply 39% of the eyewear
- have more managed care patients each year
- are losing locations (1000 per year nationwide)
Corporate optical retailers (Lenscrafters, Pearle, Wal-Mart, Costco, etc.):
- are GAINING 2 to 4% market share per year
- provide 33% of all eye exams and provide 60% of all eyewear dispensed
- are gaining locations (1000 per year nationwide)
Vision Care Benefits:
- Demand is INCREASING
- Are the least expensive benefit of the big four benefits (medical, prescription card, dental, and vision.)
- Demand is the same as dental and continues growing each year.
- Help to ensure that patients purchase materials and services from PPECPs instead of corporate optical retailers
OD graduates:
- Are choosing to work for corporate optical retail chains rather than in private practice
- Are recruited by corporate optical retail chains at optometry schools
- Are demographically more prone to favor retail chain occupations
The Bottom Line:
PPECPs are LOSING market share and money because:
- They have lost private pay patients to corporate optical retail chains
- Managed care (Spectera, Davis, Avesis) reimburses poorly
- Patients are not covered with vision care benefits independently or through a collective organization (work)
- They cannot capture new OD talent
Stay competitive, profitable, and customer-focused. Join IECP today.
* Based on Jobson Optical Research Reports