Global Optical Insurer - VSP to launch in Irish market

Regular eye exams can detect chronic conditions and reduce healthcare costs

VSP Global® has today announced plans for VSP® Vision Care, the largest vision benefits and services company in the US, to launch its business in Ireland.  VSP provides vision benefit services to one in five Americans and the company is now offering this service in Ireland.

VSP Global companies also include Marchon, the third largest manufacturer, designer and distributor of quality fashion and technologically advanced eyewear in the world.

Speaking at the launch in Dublin, VSP Vision Care President, Jim McGrann said: “Many of our global clients have operations in Ireland, and they have asked us to bring our product into this market. Eye care and eye exams are low-cost and effective solutions that play a key role in supporting the overall health of the population. Many chronic health conditions – such as diabetes, high blood pressure and high cholesterol – can be detected through an eye exam, providing the opportunity for early detection and management of these diseases, which in turn can deliver better health outcomes for employees and cost savings for employers.”

VSP plans to partner with employee benefit companies and health insurers to make the vision benefit options available to Irish employers. The company will also work with a network of independent opticians in Ireland to deliver eye care examinations.  The financial cost of vision impairment and blindness in Ireland is estimated to be €386.09 million; of this, €56.72 million is the cost of lost productivity to the Irish economy
[1]Eye exams also provide the opportunity for further significant savings as a result of the avoidance of disease complications, which impacts both employers and the economy.

“We know there is a very challenging climate in the private health insurance market in Ireland, and we are confident that by introducing a vision plan, employers and insurers can deliver better health outcomes for their employees and members. Annual eye exams can reduce healthcare costs, improve productivity and reduce workforce absence rates,” added McGrann.

VSP has also recently announced a deal with Google Glass. Commenting on the deal, McGrann said, “The Google Glass partnership brings together the respective leaders in technology and eye care ensuring consumers receive the best technological experience and the best prescription eyewear experience. VSP has always been committed to innovation and providing the best products and services to help people see. This is one of the core values we bring with us into new markets.”

For further information:

Murray Consultants                                                                                        01  498 0300

Grainne O’Brien                                                                                             087 261 0862

Niamh McCarthy                                                                                            086 354 0778

 

Note to Editors:
VSP Global® Data Sheet: 

About VSP
VSP Global unites industry-leading companies to bring high quality, high fashion eyewear, customized lenses and ophthalmic technology to help people see across the globe.

VSP Global companies include:

  • Not-for-profit VSP® Vision Care, the largest vision benefits and services company within the US;
  • Marchon® Eyewear Inc., the 3rd largest manufacturer, designer and distributor of quality fashion and technologically advanced eyewear in the world;
  • Eyefinity®, the largest premier practice management software company for the eyecare industry;
  • VSP Optics Group, industry leaders in new lens technologies, production processes, service and logistics;
  • VSP Global Retail Development, a recently announced new line of business focused on developing tools and solutions that both address current and future consumer demands and help eye care providers become more competitive retailers.

Clients and Members
With more than 64 million members in the US, we’re proud that one in five Americans relies on us for eyecare coverage. VSP has contracts with more than 47,000 clients, including more than 119 health plans. We're dedicated to supporting our clients' wellness initiatives and help keep our clients' employees happy, healthy and productive. Of the FORTUNE 500 companies that offer a vision plan in the US, 60% offer VSP to their employees. Of VSP clients, 89% are employers with less than 500 employees.

Employees
We are pleased to have more than 5,500 employees working for VSP Global companies worldwide.


[1]The  Economic cost of Vision Impairment and Blindness in the Republic of Ireland: Summary Report, June 2011.

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