iOR Partners is introducing a new collaboration model for ophthalmologists (MDs) and optometrists (ODs) in a first-of-its-kind approach that offers a streamlined continuum of care.
Before we get into this approach, talk about iOR.
Founded in 2018 and headquartered in Kansas City, Missouri, iOR provides MDs with office-based surgery (OBS) suites in the United States.
- To date: The company has reportedly established over 160 OBS suites across the U.S. and Europe.
About these suites: Each is designed to provide cataract surgeons with the tools to offer more personalized care with a customized, comprehensive, and ongoing OBS program that offers:
- Space build-out
- Surgical equipment acquisition
- Staff training
- Insurance acquisition
- Accreditation
- Compliance services
And the purpose behind this?
Essentially, iOR’s goal is to meet the increasing demand for cataract surgery and lessen the burden on the projected shortage of eye surgeons in the U.S. workforce.
Case in point:
- Research published in JAMA Ophthalmology earlier this year found that over 17% of patients in need of ophthalmic surgical care live in rural areas—and fewer than just 6% of surgeons are in practice in these locations.
- In fact, the number of ophthalmic surgeons in such areas has declined over the last 10+ years.
- And moving forward: The ophthalmic workforce is projected to decline 12% (from 2020 to 2035) while the total demand for such care is expected to increase by 24%.
Yikes …
Indeed. As such, iOR noted that the current healthcare landscape is poised to bring “significant challenges” for MDs as a result of a few factors:
- Medicare recipients are expected to increase to over 80 million beneficiaries over the next 5 years (from 54 million currently)
- Proposed reimbursement cuts stand to make the traditional “third-party payer model” unsustainable.
- Rise of large retail-oriented corporations in the healthcare field—including the surgical space.
And how does iOR’s collaboration model factor in?
The basic premise: An OD clinical practice and MD clinical practice team up to offer patients a “streamlined continuum of care” to patients.
- Why: Optometrists reportedly conduct 85% of annual eye exams, “giving them unmatched access to potential surgical candidates.”
Tell me more.
"With reimbursements declining and corporate giants entering the surgical arena, it's clear we must pivot from a third party-dependent system to a primarily cash-based one,” stated Tony Burns, iOR’s chief strategy officer.
- Take note: A cash-based system involves patients paying a provider directly for services (bypassing insurance companies), giving physicians full control over their pricing and treatments.
What’s the thought behind it?
iOR says this strategic and essential pivot is necessary to ensure physicians can continue practicing profitably.
- More specifically, such a system would allow MD practices to serve all patients (including those on Medicare and Medicaid)—but on their own terms, the company noted.
Gotcha. And has this model been tested yet?
It has (and currently is)! Two practices—one MD and the other OD—in Omaha, Nebraska, are putting the MD/OD OBS model to the test.
- Legacy Eyecare (the OD practice)
- The benefits: New revenue streams, patient retention, and more cohesive care delivery
- Kugler Vision (a LASIK vision correction [MD] practice)
- The benefits: Increased surgical volume, steady referral pipeline, and total medical control and accountability for all procedures
What’s the verdict so far?
Early results reported from both practices indicate three key promising outcome areas:
- New revenue opportunities (in as few as 60 days)
- Increased patient retention
- Steady financial gains scaling over time
This partnership allows us to serve patients more efficiently, while expanding surgical opportunities,” stated Lance Kugler, MD, of Kugler Vision. “It redefines what collaboration in eye care can look like.”