SUPPORT
P-IOL
SUCCESS
touchpoint
engagement
LASIK
TOOLS
DATA
marketshare
marketing
resources
Factors Impacting
Refractive
Practice Growth
differentiation
results
GROWTH
%
The Marketplace
of Opportunity
action
PLANS
SHOPPER
A study exclusively from
The CareCredit® 2012 Economic Report
CareCredit® values your opinion. So each year, we conduct a
national study with enrolled refractive practices to determine
critical shifts in the marketplace. For the 2012 End of Year study,
there were 332 total respondents. Their responses indicate:
Competitive pricing and discounting continue to be an
issue, even while some practices are experiencing growth.
Conversion to surgery ratios are still being directly
impacted by patient concerns about cost and budget.
Patients are very likely to continue to be interested
in financing.
Offering every patient the CareCredit credit card as a
financing option remains a proven way to achieve real
results in conversion ratios, procedure volume and other
key areas.
Patients are Becoming Savvy
Shoppers for Refractive Services.
GAS
More and more patients are treating refractive procedures as a commodity rather than a specialty. With
price and budget being high on their list, the trend is for patients to shop for the best overall deal, and
that includes whether or not a practice offers financing.
TUITION
MORTGAGE groceries
UTILITIES
TAXES
EYE
CARE
new
car
travel
71%
reported an increase in cost or budget
becoming a concern for patients.
68%
saw an
increase
in patients
price
shopping.
67%
reported an increase in patients
requesting financing.
61%
???
saw an increase in new patient inquiries.
45%
of respondents saw an increase in patients visiting multiple practices before scheduling a LASIK or P-IOL procedure.
A Shift in Procedures Mirrors the
Shift in Changing Demographics.
VOLUME
STAYED THE SAME
32%
PIOL
VOLUME
DECREASED
31%
LASIK


PIOL
33%
LASIK
32%
Profit keeps them up at night.


The impact of an aging Baby Boomer population is perhaps becoming more evident, with the volume for
P-IOLs outpacing the volume for LASIK procedures; however, while the procedure may be changing, the
average cost is generally the same. More disconcerting is the fact that nearly a third of respondents are losing
sleep over profitability, and nearly a quarter have seen an increase in delinquent accounts or collections.
8%
LASIK
28%
INCREASED
44%
35%
INCREASED
VOLUME
VOLUME
Business challenges do not
keep them up at night.
PIOL
AVG LASIK
33% reported $1-2K/eye • 35% reported $2-3K/eye • 16% reported >$3K
25% reported $1-2K/eye • 32% reported $2-3K/eye • 20% reported >$3K
AVG P-IOL COST
PIRED
EX
24%
saw an
increase in
delinquent
accounts or
collections.
38%
Practices are Moving Beyond Refractive
Procedures to Keep More Patients Coming Back.
increase
Perhaps as a response to changes in consumer behavior and LASIK/P-IOL volumes, offering diversified services beyond refractive
is now commonplace. A majority of respondents report having an optical shop, and almost half are offering minimally invasive
cosmetic procedures — contributing to return visits from previous patients for additional treatments or procedures.
What other
procedures
have you seen
an increase in?
ts
Visi
n
r
u
Ret
Return Visits
procedures like
BOTOX ®.
Retur
n Visits
53%
Specialty
contact lenses 35%
Limbal
relaxing incisions 29%
Optional
screening services 24%
Oculoplastic surgery 23%
Dry eye treatment
22%
8%
Hearing services
48%
offer minimally
invasive cosmetic
(Respondents reporting a 1 – 10%
increase in the following)
Nutritional
supplement or
vitamin sales
RETURN
VISITS
38%
$
500
Reported case sizes over $500
44%
$
reported previous LASIK/P-IOL
patients returning for other
procedures/treatments.
30%
500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500
Reported average minimally
invasive case size: $300-500
$
300
53000$0400
$$
Providing an Easy Way to Pay Impacts Both
Patients and Practices for the Better.
With financing being a critical component of what the “shopping patient” is looking for, a common theme
among practices is to emphasize the importance of using and the willingness to offer financing for both
vision surgery and additional procedures, optical products and services. Over half of practices have
experienced a 5 – 25% increase in procedure volume because they offer financing.
80%
of those who have an optical
shop reported that they offer
CareCredit® for optical purchases.
%
3a
5
rt
o
p
re
The majority
of practices
reported over
36%
of their patients pay for their
surgical procedures with a
consumer credit card.
5 25%
increase in procedure volume as a result
of offering third-party financing.
At Every Touch Point, CareCredit® Gives Practices
Distinct and Powerful Competitive Advantages.
The benefits of CareCredit® are readily apparent given the high number of respondents reporting that CareCredit helps
them increase their show rate for consultations and the number of scheduled procedures, as well as helps their patients
select the ideal procedure or treatment even if it costs more. They also agree that CareCredit provides the support
they want/need, is easy to use and helps their patients not only budget for their procedure, but also return sooner for
additional procedures or treatments.
71% agree that CareCredit
helps them select the
ideal procedure/treatment
even if it costs more.
89% agree that
CareCredit is easy to use.
87% agree that CareCredit helps
patients budget for their procedure.
80% agree that CareCredit helps
increase show rates for consultations.
58% agree that CareCredit
helps them increase the number
of scheduled procedures.
97% of respondents currently
offer CareCredit as their
patient financing company.
58%
agree that offering
helps them attract new patients when
they use it as an offer in their marketing.
agree that
CareCredit offers
great Practice
Management
support by
making access
to dedicated team
members and call
centers easy.
58%
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