Dr. Lazar in one of her exam rooms. Dr. Lazar says that key dry eye investments have made it easier for her to provide top-level care to patients while growing her practice.
Dry eye practice investment and growth
By Inna Lazar, OD
August 7, 2024
Dry eye shows no signs of slowing down. If anything, the aging of our population and heavy digital device use mean this condition will only become even more common.
When I decided to open my practice, my primary focus was on ocular surface diseases, particularly dry eye disease. To date, we have close to 2,500 patients who come to us for dry eye diagnosis and treatment, and we continue to see more every day as the dry eye pandemic grows.
This increase is driven by the rising awareness of dry eye disease and the fact that many patients can no longer tolerate the chronic and often debilitating symptoms. Over the past five years, our patient base has expanded significantly, reflecting the growing need for specialized care in this area.
Here are the key investments my practice made to serve patients with dry eye and increase our profitability.
Deciding to Grow Dry Eye Services
When I first opened my practice, we did not have an optical department because I wanted to concentrate on dry eye and myopia management. Additionally, we did not have the space for it.
In the beginning, most of our revenue came from comprehensive eye exams, dry eye management and myopia management. It’s also important to note that our practice was primarily supported by medical insurance and private-pay patients.
Overall, our practice generates approximately seven figures annually in revenues. A significant portion of this, about 40 percent, comes from our dry eye care and related product sales. This segment has grown substantially over the years, reflecting the increasing awareness and demand for specialized treatments in ocular surface diseases. By focusing on this niche, we have been able to provide high-quality care and generate a substantial portion of our revenue.
Without a doubt, the greatest impetus of growth in our practice has been the investment in dry eye treatment devices. Although these devices required a significant initial investment, they have more than paid off. Not only are they the most successful way to treat dry eye disease, but they also attract patients who have reached the maximum efficacy of their drop therapy and are seeking more advanced solutions.
The Key Investments
We currently utilize OptiLight , dual-frequency RF technology, low-level light therapy and thermal expression devices. Recently, we added a skin tightening device to improve patient eyelid laxity, enhancing eyelid-globe congruity, which in turn aids in dry eye treatments.
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Editor’s Note: There are other technologies that also enable IPL including LightMed LightLas PDT Photodynamic Therapy Device, Ellex Intense Pulsed Light Therapy System and Quantel Medical LacryDiag IPL System, among other options.
The effectiveness and comprehensive approach of these devices have established us as a sought-after destination for those suffering from dry eye, driving continuous growth and success for our practice.
Intense Pulsed Light & Radio Frequency
Our practice made several key investments to grow our dry eye services, focusing on advanced treatment devices with proven efficacy and safety. One of our major investments was in OptiLight and dual-frequency radio frequency technology from Lumenis, each costing between $75,000-$95,000.
OptiLight is specifically designed to reduce inflammation and improve tear film quality, while RF technology enhances meibomian gland function and overall eyelid health.
The ROI for these devices has been substantial, leading to improved patient outcomes and attracting a steady stream of new patients seeking advanced dry eye treatments.
Within the first year, we saw a 25 percent increase in new patient referrals and a 40 percent increase in overall revenue from dry eye services.
Thermal Expression Technology
We also invested in the TearCare thermal expression device, costing close to $7,000.
TearCare improves meibomian gland function through controlled heating and expression, helping restore natural oil flow and stability to the tear film. Although this device requires disposables, purchasing in bulk helps to bring the overall cost down.
Editor’s Note: There are other thermal expression technologies to choose from, including LipiFlow, iLux, MiBoFlo and BlephEx, among other options.
The ROI for TearCare has been positive, with a notable increase in the effectiveness of treatments for meibomian gland dysfunction. TearCare was an early investment in our dry eye practice, laying the foundation for our comprehensive treatment approach.
By strategically investing in scientifically-backed, FDA-approved devices like intense pulsed light and RF technology, as well as TearCare, we have been able to provide cutting-edge care for dry eye disease.
These investments not only ensure the highest standards of safety and efficacy, but also significantly enhance our practice’s growth and reputation.
Dry Eye Products for Home Use
In our practice, we prioritize in-office procedures to treat dry eye disease, acknowledging that our patients often lead busy lives, which can make it difficult for them to maintain consistent at-home treatments.
To support their care and convenience, we offer a variety of dry eye products, although these are not a primary revenue driver for us. Our selection includes heating masks, moisture chamber goggles and eyelid hygiene products, all designed to provide relief from dry eye symptoms.
Among our offerings, Blink Tears Lubricating Eye Drops provide immediate relief, while prescription drops like MIEBO target tear evaporation, and Xiidra reduces inflammation. Additionally, we are introducing Blink NutriTears, a nutritional supplement clinically proven to support eye health.
These innovative treatments allow us to provide personalized care , ensuring optimal comfort and eye health for our patients. Our goal is to support our patients’ ongoing eye health and enhance the effectiveness of their in-office treatments.
In addition to these products, we also offer skincare items in our office. Since we treat portions of the face, it is crucial to ensure that patients are using appropriate skin protection. Offering skincare products helps us maintain the integrity of the treatments and provides an added convenience for our patients. Interestingly, this has also contributed to a modest revenue increase of about 2-3 percent.
With the right mix of practice investments for in-office care, and the right products for sale for at-home treatments, you can build a dry eye practice that provides topnotch care while significantly boosting revenues.
Inna Lazar, OD, is the owner of Greenwich Eye Care in Greenwich, Conn. To contact her: drinnalazar@gmail.com
