Ophthalmology and optometry practice management company.
Acquired by KKR2017-05-22
Consolidation platform for eye care practices with surgical capabilities
Reduced staffing levels, with fewer highly-trained optometrists and ophthalmologists and more reliance on lower-cost technicians and assistants
Increased use of upcoding and aggressive billing practices to maximize reimbursements, potentially leading to higher out-of-pocket costs for patients
Closure or scaling back of less profitable but essential services like vision therapy, low vision care, and pediatric ophthalmology
Reduced investment in new technologies, equipment, and facilities, leading to longer wait times and delayed access to the latest advancements in eye care
Announcement of 'optimization' plans, potential leadership changes
Staffing reductions begin, with more technicians and fewer specialists
Noticeable decline in appointment availability and patient wait times, with some service lines being reduced or eliminated
Widespread patient complaints about quality of care, potential regulatory issues or lawsuits related to billing practices
Potential for facility closures, sale to another operator, or bankruptcy
Other companies that followed a similar path after PE acquisition
Be vigilant for any changes in your eye care provider's staffing, appointment availability, or service offerings
Carefully review your medical bills and advocate for fair and transparent pricing
Consider seeking care from independent, community-based eye care providers that are not owned by large PE-backed corporations
Community-focused healthcare
Integrated managed care consortium