Grow Your Ophthalmic Practice Beyond LASIK

LASIK has long been a cornerstone of practices specializing in refractive surgery, especially in the North American market, where over 40% of surgeries took place in 2024. Projections estimate that the global LASIK industry will nearly double to approximately $1.7 billion during the period from 2026 to 2032.¹

While this is positive news for ophthalmologists, building your practice around LASIK alone may have the unintended consequence of constraining practice growth. That's because an overreliance on LASIK effectively excludes a large portion that is not eligible for the surgery.

Learn more about the implications of these trends on ophthalmic practice growth, as well as the alternative refractive procedure options and financing models that can help broaden patient access, diversify revenue streams and prepare your practice for the future of vision correction.

Limitations of LASIK in the Current Ophthalmic Industry

While LASIK has been touted for its effectiveness, the main issue is that key segments of the population are not ideal candidates because of age, eye conditions or other chronic health issues.²

Devoting the majority of your practice time to one procedure can also limit your availability to meet the aging population's growing demand for chronic eye disease treatment, such as cataracts and glaucoma. In contrast, offering a diversified range of services can attract a wider patient base and help increase revenue.³

If LASIK is currently your main source of revenue, relying on a limited patient pool could be holding back your practice growth as well as your actual take-home wages. An article in Ocular Surgery News explores this issue, illustrating a simple scenario in which just a 10% increase in patient volume could boost a practitioner's paycheck by as much as 27%.⁴

Understanding the Ophthalmic Industry Beyond LASIK

LASIK surgeries, with their excellent patient outcomes, have proven to be a key part of many ophthalmology practices.² But with chronic eye diseases — including cataracts, diabetic retinopathy, glaucoma and macular degeneration — affecting the rapidly aging population, expanding your suite of services now can help your practice grow and scale for the future.⁵

In addition, new technologies like artificial intelligence (AI) and three-dimensional (3D) surgical systems are coming into the mainstream, which could mean new specialty procedures on the horizon – and you'll want to be ready.⁶

The Future of Laser Eye Surgery for Vision Correction

For practices that have room to expand, diversifying your suite of surgical eye procedures can help broaden your patient reach. Consider integrating these alternative and emerging services to diversify or enhance your LASIK offerings:

• SMILE® (small incision lenticule extraction). This newer laser refractive procedure is an ideal LASIK alternative for highly active patients, as it avoids corneal flap creation and has fewer potential complications.⁷
• PRK (photorefractive keratectomy). Unlike LASIK, this procedure can be done on patients who have dry eyes or thin corneas.⁸
• Implantable collamer lenses (ICLs). Patients who may not be eligible for LASIK because of their cornea health or because their prescription is too strong could benefit from ICLs.⁹
• Refractive lens exchange (RLE). RLE can be a solution for patients with severe hyperopia (farsightedness), which is something that LASIK does not correct.¹⁰

Eye Surgery Financing: A Critical Component for Practice Growth

Another potential roadblock to patients seeking ophthalmic procedures is the cost — real or perceived. In a CareCredit study, over half (56%) of ophthalmology patients said they struggle to pay out-of-pocket costs. And even though more than 7 in 10 (72%) ophthalmology providers agreed that they believe cost may be a barrier to scheduling care, only 35% of patients said they were offered a financing solution.¹¹

When you consider that the average out-of-pocket cost for ophthalmic surgery among survey respondents was $1,850, you can understand the financial challenges.¹¹ For LASIK specifically, the national average cost* can range from $1,560 to $2,121 per eye, depending on the type of LASIK performed.¹²

Financing options, such as the CareCredit credit card, allow patients to split up the bill for ophthalmic surgeries into convenient monthly payments.* Offering your patients this type of financing solution can empower them to follow through with recommended care. In fact, 3 out of 4 general healthcare patients surveyed in CareCredit’s study said they would seek more services for health and wellness if they had ways to pay for them.¹¹

Forward Focus: Future of Vision Correction

With the CDC estimating that 93 million adults in the United States today have a high risk for serious vision loss, rising to meet this heightened patient demand may be a necessary component for your practice's growth.¹³

One report projects that the industry will grow at a compound annual growth rate of 3.32% from 2025 to 2030, driven largely by the aging population and the increase in eye disorders such as cataracts, glaucoma, diabetic retinopathy and refractive errors.⁵

At the same time, emerging technologies in ophthalmology are poised to have a dramatic impact on the future of vision correction and reshape standards of patient care. Innovations like 3D surgical video systems, laser technology advances like femtosecond lasers and AI's potential to deliver highly precise and much earlier vision screenings are just a few of the key developments.⁶

With a higher demand for vision correction and the emergence of new treatment options, reaching more patients and expanding your services can help your practice thrive.

Drive Practice Growth Through Expanded Service and Patient Financing

Adding to your suite of surgical procedures can help expand the reach of your practice beyond LASIK's limited patient populations. The goal is to have incremental patient volume growth, which can lead to increased revenue and help sustain your practice over the long term.

Alongside these initiatives, putting together an awareness campaign that presents financing options for prospective ophthalmology patients can further boost interest in your services by making them more budget-friendly and accessible.

A Patient Financing Solution for Ophthalmologists

Cost may be a barrier to care for your current and prospective ophthalmology patients. You can help them manage the cost of the care they want or need by offering the CareCredit credit card as a financing solution. CareCredit allows patients to pay for their eye exams, LASIK, surgeries and other treatments over time while helping to enhance the payments process for your practice.

When you accept CareCredit, patients can see if they prequalify with no impact to their credit score, and those who apply, if approved, can take advantage of special financing on qualifying purchases.** Additionally, you will be paid directly within two business days.

Learn more about the CareCredit credit card as a patient financing solution for your ophthalmology practice or start the provider enrollment process by filling out this form.

Author Bio

Dawn Papandrea is a journalist with more than two decades of experience covering personal finance and consumer issues. She has written for leading financial publications and organizations, including U.S. News & World Report, Investopedia, BankRate and others.

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