ONLINE EXCLUSIVE
ASCRS News
July 2024
by Vance Thompson, MD
Chair, ASCRS Business of Refractive Cataract Surgery Summit
Cataract practices have an opportunity. They have an opportunity to grow, an opportunity to diversify revenue streams independent of third-party payers, and—most importantly—an opportunity to better serve patient needs.
That opportunity is in advanced-technology IOLs (AT IOLs), which we know include toric, extended depth of focus, trifocal, customizable, and small-aperture IOLs.
For too many surgeons, this opportunity is passing them by.
Why?
I think due to a lack of confidence, both in meeting patient expectations and in managing the business of the full patient cycle with these lenses.
Almost half of patients coming in for cataract consultations are interested in some of the independence from glasses that these lenses can offer. According to the Alcon Eye on Cataract Survey published in 2023, 84% of patients surveyed age 50 and older wear glasses; 69% of these people “would feel liberated without their glasses,” and 51% of patients understood they could choose different IOL types to fit their visual needs and desires.
It’s clear a significant portion of our patients are interested in AT IOLs. However, 2024 data from Market Scope revealed this category of lenses only accounts for 15% of IOL units, accounting for 45% of global IOL revenue in 2024.
Offering AT IOLs, in addition to meeting patients’ need and demand, represents a significant opportunity for financial health and sustainability in cataract practices these days and into the future. Reductions in third-party reimbursements—with no end in sight—is not a sustainable future for our practices.
In the past decade, the practices that have figured out this new normal of a hybrid of third-party reimbursement and patient pay and how to deliver AT IOLs have had some of their best years ever and are poised for the future. We want to share that with you.
The leaders from several successful premium practices and I have pulled together our collective knowledge, resources, and lessons learned to offer the ASCRS Business of Refractive Cataract Surgery Summit—truly a first-of-its-kind course that seeks to give eager practice teams the confidence they need to increase growth in AT IOLs.
The meeting, BRiCS as it’s affectionately nicknamed, includes both an 18+-hour, in-person intensive course September 27–28 in Irving, Texas, just outside of Dallas, and access to an extensive resource library built from 20 years of expertise in this arena. The course, which is approved for 6 AMA PRA Category 1 CreditsTM, will provide an in-depth understanding of what’s needed for success at all stages of the refractive cataract journey, from business elements to preop through postop to pearls to meet patient expectations and optimize outcomes. The resource library includes customizable business forms, supplemental learning and how-to’s, surgeon and team checklists, and educational slideshows for educating your team, patients, doctors, and community.
This course is being offered to a limited number of surgeon-implementor practice teams. The team approach of the physician and their lead administrator, technician, patient counselor, or optometrist is crucial. The surgeon only has a couple of touchpoints with the patient along the refractive cataract journey in many practices. Getting the whole practice team on board, educated, and excited about these technologies is the key successful adoption. This course is intended to take practice confidence to new levels for future practice joy and health.
In the last decade, cataract surgery reimbursement has consistently been under review and has dropped 25.6% despite the advocacy efforts of ASCRS on behalf of its members. Alongside this, the cost to practice has been increasing. But in this same timeframe, there has been a major increase in a patient’s willingness to pay out of pocket for their health, including refractive cataract surgery.
Incorporating AT IOLs successfully into practice can result in a substantial increase in practice revenue when the practice team is involved and engaged. By successfully adopting advanced-technology implants into your cataract practice, you could recoup your investment in BRiCS in one month, one week, or even one day.
To gain the knowledge packed into this course and its resource library would cost considerably more time and money, working with consultants and going through the process of trial and error. We are seeking to accelerate the learning curve for your practice.
We want to give patients what they want and encourage healthy ophthalmic practices. Practices won’t be what they could be without adopting these technologies. The joy of fulfilling our patients’ needs and the financial health of our practices depends on it.
