Dr. Jennings

Taking Necessary Steps to Protect and Preserve Our Patient Access

By Gordon Jennings, OD June 23, 2020

As you may have read, VSP Global recently made an announcement regarding formulary changes effective September 1, 2020, impacting how VSP reimburses for preferred and non-preferred materials. At the same time, they announced additional plan changes that add value for insurance clients and increase VSP’s ability to win and retain contracts that put patients in our practices, especially during this unprecedented time of competition.

You may have also seen recent communications from EssilorLuxottica about these changes. EssilorLuxottica’s communications about VSP’s insurance and formulary updates were designed to distract from the central reasons behind the decisions announced on June 1.

It’s important we do not lose sight of the most important thing at stake: Our access to patients.

Protecting and preserving patient access for VSP network doctors remains the company’s top priority and these updates are necessary to reduce a competitor’s control over VSP’s costs as a business. 

This is not about limiting choice. The fact is, no one offers more choice than VSP. In fact, VSP’s formulary includes virtually every frame, lens, and contact lens available in the industry today – no matter who makes it.

The real choice to consider is whether you want to align yourself with a company that uses you and your practice to generate profits for shareholders or one that uses profits to reinvest in you and your practice.

The truth is EssilorLuxottica uses profits from VSP’s supply chain and from the formularies of other managed vision plans they control to help EyeMed compete. And when EyeMed wins contracts, VSP network doctors lose patients.

VSP was founded more than 65 years ago to help drive patient access for doctors and 86% of VSP’s revenues go to doctors via reimbursements and other support. Over the past five years, VSP has delivered 104 million patients to VSP network doctors and more than $12 billion in revenue to Premier Program practices.

We are entering an unparalleled time of competition for employer contracts that represent millions of patients that visit VSP network doctors each year. As I see it, the objective is clear – VSP remains focused on winning and retaining clients to keep these patients where they belong – in our practices.

To learn more about the facts surrounding the upcoming ophthalmic product formulary and plan changes, and VSP’s priority to preserve patient access, visit justthefactsvsp.com.

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