Comprehensive EyeCare Partners
An ophthalmology practice management company operating eye care clinics across multiple states.
PE-OWNED
Acquired by Leonard Green & Partners2016-02-01
What Made It Great
Comprehensive eye care services including surgery and specialty treatments
What PE Will Likely Do
Comprehensive EyeCare Partners will likely see a reduction in nursing staff, with more procedures performed by lower-cost licensed practical nurses (LPNs) or medical assistants instead of registered nurses (RNs)
The company may sell its owned clinic real estate and lease it back, extracting equity for investors while potentially increasing occupancy costs
Comprehensive EyeCare Partners may start aggressively coding for higher-reimbursement eye care procedures and diagnoses, even if they do not fully align with patients' actual needs
The company may eliminate certain unprofitable but essential eye care services, such as specialized treatments for complex vision issues or low-income patients
Expected Timeline
“0 to 6 months months”
Comprehensive EyeCare Partners will likely announce 'optimization' plans and undergo a leadership shuffle, with the new management team emphasizing cost-cutting initiatives
“6 to 12 months months”
Staffing reductions will begin, with nursing positions replaced by lower-cost assistants. The company will also start reviewing its service offerings to identify potential cuts
“12 to 24 months months”
Patients will likely notice a decline in service quality, with longer wait times for appointments and potentially less personalized care as providers become overburdened
“24 to 36 months months”
Major issues may emerge, such as the closure of certain specialty eye care clinics or quality scandals related to substandard procedures or equipment
“36+ months months”
Comprehensive EyeCare Partners could potentially face bankruptcy, leading to the closure of clinics or a fire sale to another operator, which may further disrupt patient care
Similar Cases
Other companies that followed a similar path after PE acquisition
What You Can Do
Actions
Patients of Comprehensive EyeCare Partners should be vigilant for any changes in the quality of care, such as longer wait times, less personalized attention, or the discontinuation of specialized services
Patients should advocate for maintaining high-quality eye care services and speak up if they notice a decline in the standard of care
Patients may want to consider seeking alternative eye care providers if the quality of services at Comprehensive EyeCare Partners deteriorates significantly
Alternatives
Community-focused healthcare
Integrated managed care consortium