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Choosing which vision care insurance plans to accept and filing reimbursement claims are important aspects of your revenue cycle as an optometrist.
You’re no stranger to the fact that reimbursement policies can vary from one insurer to another. Their policies often impact your bottom line as well as the treatment options you’re able to offer to your patients.
Let’s take a closer look at how unethical vision insurance plan reimbursement policies affect your practice. Then, we’ll discuss why prepaid plans with pre-negotiated savings provide the most value for optometrists and patients alike.
Vision Insurance Plan Reimbursement Policies and the Vision Insurance Industry
Reimbursement policies have become a tool major vision care insurance providers use to advance their interests.
In the past, some vision plan carriers have been found guilty of violating patient protection laws by adopting a differentiated reimbursement policy on some lens products. The policy aimed to limit the treatment options available to patients, making optometrists more likely to recommend products from labs VSP had a stake in.
This story isn’t an isolated incident. Over the past few years, mergers and acquisitions have become more common in the vision care industry. This results in large health conglomerates that own entire verticals and have a conflict of interest in guiding the choices patients and optometrists make. Congress is currently investigating this form of abuse, but the lobbying influence these corporations have is a major roadblock in the way of solving this problem.
Insurance plan providers can also impact your bottom line by consistently undervaluing the cost of core services. This trend results in higher out-of-pocket costs for patients and can limit care options when you’re working with budget-conscious patients.
What Makes Prepaid Vision Plans Like VCD Different?
Prepaid vision plans operate according to a very different value proposition. The goal is to give patients access to quality eye health services at a reduced price while helping optometrists grow their practices.
Vision Care Direct of Oklahoma’s prepaid vision plans come with many benefits:
- Managing reimbursements becomes much easier. We offer a streamlined claims process that shortens your revenue cycle and allows you to focus on providing quality care.
- We seek to maximize value for optometrists and patients, which means we don’t arbitrarily limit treatment or lab choices. You can recommend any option you feel is best for each patient or even use your own lab.
- There is complete transparency into what the plan covers since the scope and prices are negotiated ahead of time.
- We help you grow your practice by offering a variety of plans that align with different patient needs. Our group discount plans also allow you to connect with patients who receive eye health benefits at work.
- Optometrists have a say in the fee schedule. Rather than dictating prices, VCD works closely with a community of practice owners and negotiates savings that provide value for everyone. Plus, we offer some of the highest reimbursement rates in the industry
- As a doctor-owned plan, VCD’s interests align with your own. Our shared goal is to facilitate access to vision care, bring more patients to your practice, and help you grow.
- Our local focus creates value for patients who are more likely to have access to several in-network options within their zip code.
- Customer service is another area where we excel. We go above and beyond to deliver an optimal experience, taking the stress out of navigating vision care reimbursements for everyone involved.
Avoid Unethical Vision Insurance Plan Reimbursement Policies with VCD
You know well that the plans you accept have a direct impact on your bottom line and the future of your practice.
Working with insurers that consistently devalue your services and seek to support their own interests over your own ultimately results in higher costs for your patients while limiting your opportunities to grow.
It’s time to take a stand against unfair vision insurance plan reimbursement policies and join the Vision Care Direct family. Learn more about how we support practices like yours, and find out about joining our network.
