Market Scope: Premium IOL Volume Faces Challenges in Rebounding Post-COVID

Results from Part 1 of Market Scope’s “COVID-19 US Practice Impact Survey” reveal that nearly 41 percent of surgeons expect a decrease in premium IOL conversion once COVID-19 subsides. These surgeons expect an average decrease of 34 percent, and most respondents believe that financial concerns would be the primary driver of this decrease. However, more than 45 percent of surgeons indicated that they believe premium IOL use will return to normal, and nearly 14 percent expect a higher conversion rate going forward.

Participants in the survey also reported that their total IOL procedure volume dropped by 76 percent in April and they expect May volume to be down by 61 percent. The Pacific (85 percent) and Northeast (77 percent) regions had the highest expected average decrease for April. All regions had a larger expected decrease in April than in May, showing signs of optimism that procedure volumes have reached their lowest point and are rebounding.

Many states have allowed elective procedures to restart. The majority of respondents expect a June or July restart, with the non-coastal regions seeing the earliest expected reopenings. The Pacific region, which includes California, Oregon, and Washington, had the latest average expectation of reopening, with a 61 percent of respondents expecting it to reopen in July or later. The earliest average response was in the West region, which includes Texas, Arizona, and Colorado, with 71 percent expecting it to reopen before July.

Telehealth has risen as a popular alternative to traditional office visits as COVID-19 has required doctors to adapt to new circumstances. Sixty-three percent of respondents said they offered all or some telehealth services, and another 14 percent said they planned to offer them.

Survey participants expressed some candid concerns, including those around the drop in office visits, future reimbursement cuts, cash flow for smaller practices, new health precautions slowing down efficiency, and potentially the need to test patients prior to surgery.

Market Scope’s “2020 COVID-19 Practice Impact Survey: Part 1 of 4” was published on May 22. Three additional monthly surveys will continue to track and analyze the impact on practices. Companies may subscribe to the series and provide requests for questions, and surgeons can participate and receive results on Market-Scope.com.