Private Equity has been a major force in Eye Doctor practices. But they are losing potential revenue because their practices (like most) struggle to sign up patients into specialty care such as myopia management or dry eyes.
Squeezing more juice from current practices is going to become very important for PE Eye Doctor practices especially in a high interest rate environment where acquisitions become challenging. That’s where Specialty care comes to play. But it’s hard to do because:
Patients don’t understand the problem.
Doctors don’t have time to explain the disease.
Most staff and doctors lack a clear process.
It’s out of pocket for the patient.
The opportunity though is very lucrative. $1600/patient for dry eyes/MGD or $2500/patient for myopia. Typical practices can increase revenue by $30k-$40k per month!
High margin. High revenue. Excellent opportunity.
PE needs to get into specialty Eye Doctor practices…and go all in.
We work with 130+ Eye Doctor practices nationwide and have helped them increase revenue and margins with 3 things:
- Process
- Automation
- AI
I believe that Private Equity has been a positive for Eye Doctors because they’ve offered Eye Doctors an easy exit to retire, brought efficiencies and process and give young ODs a place to work with predictable salaries. But I will bet the next 5 years are not going to look like the last 5 years.
If you’re reading this and in PE and want to capture that potential revenue and increase margins, let’s have a chat: bob@gethoot.com