More Eye Exams in the Near Future?

Business growth for optometrists persisted through the economic recession, mainly because of the resilient demand from the aging population and eye diseases associated with diabetes and computer use, according to a report by IBISWorld. During the five years to 2012, revenue is expected to increase at an annualized rate of 2.9% to $14.0 billion. The slowly recovering economy is expected to foster stronger growth of 3.8% in 2012. However, revenue growth has not been paired with profit growth. Optometrists cut costs during the past five years, but payers did the same. Managed care vision plans and government payers (i.e. Medicare and Medicaid) kept reimbursement levels for industry services flat or only moderately increased them. Operating profit margins are expected to suffer slightly during the five years to 2012. Read more.