Managing Medicare Cuts: How Patient Financing Can Help Ophthalmology Practices to Support Patients

The Centers for Medicare and Medicaid Services (CMS) may have decided to pay less for specialty care, including ophthalmology services, but that doesn’t mean your patients have to go without vision care. Medicare may no longer cover the full price for services like cataract surgeries, but by offering financing options, you can help ensure that your patients are still able to get the care they want or need.

When your practice offers financing for specialty vision care, patients may be able to pay for their care over time. This can make them more likely to avoid putting off appointments and comply with recommended care, which could be better for their overall health.¹ If financing options keep your patients on track with vision care, that means you’ll likely stay busy providing recommended treatment and care.

What Medicare Cuts Could Mean for the Vision Industry

New Medicare payment guidelines include a 2.5% cut in payments for many specialized services beginning in 2026. The revised reimbursement model affects ophthalmology services and other specialties.²

Effect of recent Medicare policy changes on elective ophthalmology procedures

For many services, including advanced eye imaging tests and vision surgeries, the new CMS guidelines will result in a 2.5% reduction in payment. The new guidelines reduce the work relative value units (RVUs) required to perform these services. Work RVUs are part of the formula used to calculate reimbursement, and CMS justifies the cut by assuming that physicians become more efficient at providing some services over time.³

The RVU cut does not affect eye visits or evaluation and management of a patient; it does affect surgeries and other advanced treatments.³

Potential financial impact on ophthalmology and surgical practices

The new adjustments to Medicare reimbursement will affect ophthalmologists in different ways based on their individual practice mix, according to the American Academy of Ophthalmology. Practices that focus on surgical procedures and advanced vision testing will be more likely to feel the decrease, as opposed to those that focus primarily on evaluating and managing vision patients.³

Understanding Patient Financing Options in the Vision Industry

If your ophthalmology practice depends on surgical procedures, it’s important for your patients to understand there are other options for paying for the vision procedures they want and need. You can provide patient financing options for vision care, which might make it easy for patients to pay for treatments that aren’t fully covered by Medicare.

The role of patient financing in elective eye care

When patients can’t use insurance or Medicare to cover elective vision procedures, the cost for such care may be a concern. But patient financing solutions can offer benefits. With financing, patients may be able to pay for their care over time, which may allow them to get the care when they want or need it rather than waiting until they have cash in hand to cover the full cost.

Patient financing solution available to ophthalmology practices

If cost is a barrier for 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 at locations in the network.*

CareCredit is a revolving credit solution, meaning someone can use the card to borrow money up to a certain limit, pay off the balance and then borrow up to that amount again. The revolving credit tool may make it easy for patients to keep coming back for continued care, such as when they want or need glasses or contacts or if they require additional procedures for chronic vision conditions.

Leverage LASIK Eye Surgery Financing to Address Medicare Gaps

Medicare does not typically cover LASIK eye surgery, as Medicare views the surgery as an elective procedure to improve vision, which can also be accomplished with eyeglasses or contacts.⁴ That’s why patients who depend on Medicare may want or need financing options to pay for LASIK eye surgery and allow them to experience clear vision without wearing glasses.

How LASIK eye surgery financing can help patients pay for elective procedures

Even if insurance or Medicare doesn’t cover the procedure, financing options can allow patients to pay for LASIK surgery over time. With financing, a patient might have LASIK eye surgery and begin enjoying the results, while making convenient monthly payments over a number of months.

Integrate CareCredit as a patient financing option in your practice

It’s easy to integrate CareCredit as a patient financing option in your ophthalmology practice. You can train your staff to assist patients by communicating about financing options and, if they’re interested, helping patients apply for CareCredit.

For many patients, healthcare decisions are also financial decisions. When patients get accurate information about costs up front, they can make more informed decisions and be better prepared to pay their medical bills.⁵

By providing your patients with the financial details of their treatments in advance, as well as offering the option to use CareCredit to finance those treatments, you and your staff may help patients make prompt decisions about their care.

Looking Ahead — Adapting to Ongoing Changes in Medicare and Patient Financing

The recent changes to Medicare reimbursements are unlikely to be the last. It’s common for government programs to shift and evolve based on budgets, the political environment and other factors. But you don’t have to focus your ophthalmology practice on the whims of the CMS. With patient financing options, you can always offer your patients other alternatives for paying for the costs of the treatments they want or need.

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

Nancy Mann Jackson is a journalist and content writer who writes regularly about finance and healthcare. Her work has been published by AARP, CNBC, Entrepreneur and Fortune. 

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