Vision insurance plans have a role to play within optometry.
They have in the past and will continue to, but perhaps to a lesser role.
There are changes taking place within vision plans that parallel the financial market. In the past, just as pension plans changed to 401k’s, we are starting to see specific things like that happen within the world of insurance.
We are seeing a transition of health care costs fall on the hands of the public, and less on the employer.
As this happens, vision insurance plans are becoming less and less of an elective benefit, which means that we might see vision plans play a lesser role in the future.
The Impact of Vision Insurance Plans
Vision insurance plans seem to impact the private practice owner more than anyone else.
Vision insurance plans command a lot of administrative time from you and your staff. Obtaining authorizations and explanation of benefits as well as adhering to the outlines set forth by vision plans takes time and resources. This is time that is taken away from your patient, which can negatively affect the patient and customer experience.
Read why this OD opened cold and decided NOT to accept many vision insurance plans.
Selecting Vision Insurance Plans
There are multiple factors when it comes to selecting vision insurance plans that might help your practice.
- Ease of use – If the plan is not easy to use, you might want to really contemplate whether or not you want to be a participating provider in that plan.
- What type of patients – Examine what type of patients come in with a particular insurance plan. Do they have a footprint with employers in the area? It makes sense to take an insurance plan that will allow you to draw from a larger group of potential patients.
- Profitability – Exam services are straightforward. You need to examine profitability from add-ons and optical services as a way to gauge if a plan is worth taking.
You need to really scrutinize whether or not taking a particular insurance plan is worth the time and effort of you and your staff.