INFLATION AND STAFFING REMAIN TOP CONCERNS OF EYECARE PROVIDERS ACCORDING TO THE VISION COUNCIL’S Q3 PROVIDER INSIGHTS RESEARCH REPORT
Alexandria, VA – November 28, 2023 – Today, the Vision Council released Provider inSights Q3 2023, a new research study exploring eyecare provider sentiments related to daily operations of their practices, the eyecare industry, and the American economy. Report findings show that the outlook for the U.S. economy among eye care providers—including opticians, optometrists, ophthalmologists, eyecare practice managers, eyecare practice owners and other professionals—has worsened compared to Q2 of 2023, with providers less confident in meeting their revenue goals for the year.
"Our latest findings from Q3 demonstrate that economic challenges continue to be a top concern for eyecare providers across the country, with responses showing that inflation is having the greatest effect on wholesale prices of eyewear and practice supplies,” said Alysse Henkel, Senior Director of Market Research and Analytics at The Vision Council. “These impacts are reaching consumers—providers reported that patients continue to be price-sensitive when choosing eyewear and are becoming more price-sensitive about exams as well.”
Additional Report highlights:
- Compared to Q1 and Q2, eyecare providers are less confident that they can meet their revenue goals.
- Hiring remains the biggest challenge for eyecare providers in Q3.
- Most providers expect staffing levels at their practices to remain the same in 2023.
- Inflation challenges seen in Q1 and Q2 did not change significantly in Q3. Most eyecare providers said they increased prices for eyewear due to corresponding wholesale price increases.
- Optometrists who treat childhood myopia report that parental and/or patient compliance with treatment and cost of treatment are the two biggest challenges in treating myopia successfully.
Overall, eyecare providers reported a less successful Q3 compared to Q1 and Q2, yet they maintain a positive outlook for the rest of 2023.
This study was conducted in October and November of 2023. The full report is available in The Vision Council’s Research Download Center as a complimentary download for members of The Vision Council, with a paid option for non-members.
Upcoming inSights Research to be released in Q4 of this year include Focused inSights: Myopia Management – Parent Perspective and Focused inSights: Lenses.
About the inSights Research Program
The Vision Council’s inSights Research Program launched in May 2022 and is built on a foundation of rigorous methodology and cutting-edge technology. The inSights Research Program provides a comprehensive perspective on the state of the optical industry through quarterly consumer survey reports; quarterly in-depth special reports on eyewear and eyecare products and topics; and an end-of-year market estimate and industry forecast.