Successful Implementation of Femtosecond Laser-Assisted Cataract Surgery: A Real-World Economic Analysis

Successful Implementation of Femtosecond Laser-Assisted Cataract Surgery: A Real-World Economic Analysis

David S George,1,2 Margaret H Ainslie-Garcia,3 Nicole C Ferko,3 Hang Cheng4 1The Eye MDs, Parkersburg, WV, USA; 2Physicians Outpatient Surgery Center, Belpre, OH, USA; 3EVERSANA™, Burlington, ON, Canada; 4Alcon Vision LLC., Fort Worth, TX, USACorrespondence: David S GeorgeThe Eye MDs, 418...

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Autores principales: George DS, Ainslie-Garcia MH, Ferko NC, Cheng H
Formato: article
Lenguaje:EN
Publicado: Dove Medical Press 2021
Materias:
femtosecond laser
cataract surgery
economic
return on investment
financial pro-forma
Ophthalmology
RE1-994
Acceso en línea:https://doaj.org/article/ff5f2477f0c54318a0114539956b993b
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spelling oai:doaj.org-article:ff5f2477f0c54318a0114539956b993b2021-12-02T13:33:13ZSuccessful Implementation of Femtosecond Laser-Assisted Cataract Surgery: A Real-World Economic Analysis1177-5483https://doaj.org/article/ff5f2477f0c54318a0114539956b993b2021-03-01T00:00:00Zhttps://www.dovepress.com/successful-implementation-of-femtosecond-laser-assisted-cataract-surge-peer-reviewed-article-OPTHhttps://doaj.org/toc/1177-5483David S George,1,2 Margaret H Ainslie-Garcia,3 Nicole C Ferko,3 Hang Cheng4 1The Eye MDs, Parkersburg, WV, USA; 2Physicians Outpatient Surgery Center, Belpre, OH, USA; 3EVERSANA™, Burlington, ON, Canada; 4Alcon Vision LLC., Fort Worth, TX, USACorrespondence: David S GeorgeThe Eye MDs, 418 Grand Park Dr #315, Parkersburg, WV, 26104, USAEmail dgeorgemd@gmail.comPurpose: To calculate the minimum number of Femtosecond laser-assisted cataract surgery (FLACS) procedures required per month to pay off the fixed investment cost over 5 years to achieve break-even.Setting: A rural ophthalmology practice located in the mid-West United States.Design: An economic analysis, based on real-world, retrospectively collected data over 12 months, from an ambulatory surgical care perspective.Methods: FLACS was initiated in 2017 with the LenSx® laser (Alcon Vision LLC., Fort Worth, TX). The incremental cost of FLACS, cases needed to break-even, return on investment (ROI), patient education, and marketing efforts were assessed. The financial analysis considered cataract volume, conversion rates, fixed (eg, principal) and variable (eg, supplies) costs, and revenue in the first 12 months.Results: The clinic performed 2717 cataract surgeries in the 12-month period, with 1304 (48%) of patients converting to FLACS. Of FLACS procedures, 613 (47%) selected an advanced-technology intraocular lens (AT-IOL; eg, toric or lifestyle IOL), and the remaining patients selected a monofocal IOL with laser astigmatism correction. FLACS increased AT-IOL use by 113 procedures (23%) compared to volumes in the year prior to FLACS. Overall, FLACS was predicted to be profitable, with only 13 cases required per month to break even in 5 years. If both facility and physician fees are considered revenue, only eight cases per month are required to break-even in 5 years.Conclusion: The practice experienced a greater-than-anticipated conversion to FLACS and increased selection of AT-IOLs, well above the break-even volume required, contributing to a rapid return on their investment.Keywords: cataract surgery, economic, return on investment, financial pro-forma, femtosecond laserGeorge DSAinslie-Garcia MHFerko NCCheng HDove Medical Pressarticlefemtosecond lasercataract surgeryeconomicreturn on investmentfinancial pro-formaOphthalmologyRE1-994ENClinical Ophthalmology, Vol Volume 15, Pp 923-929 (2021)
institution DOAJ
collection DOAJ
language EN
topic femtosecond laser
cataract surgery
economic
return on investment
financial pro-forma
Ophthalmology
RE1-994
spellingShingle femtosecond laser
cataract surgery
economic
return on investment
financial pro-forma
Ophthalmology
RE1-994
George DS
Ainslie-Garcia MH
Ferko NC
Cheng H
Successful Implementation of Femtosecond Laser-Assisted Cataract Surgery: A Real-World Economic Analysis
description David S George,1,2 Margaret H Ainslie-Garcia,3 Nicole C Ferko,3 Hang Cheng4 1The Eye MDs, Parkersburg, WV, USA; 2Physicians Outpatient Surgery Center, Belpre, OH, USA; 3EVERSANA™, Burlington, ON, Canada; 4Alcon Vision LLC., Fort Worth, TX, USACorrespondence: David S GeorgeThe Eye MDs, 418 Grand Park Dr #315, Parkersburg, WV, 26104, USAEmail dgeorgemd@gmail.comPurpose: To calculate the minimum number of Femtosecond laser-assisted cataract surgery (FLACS) procedures required per month to pay off the fixed investment cost over 5 years to achieve break-even.Setting: A rural ophthalmology practice located in the mid-West United States.Design: An economic analysis, based on real-world, retrospectively collected data over 12 months, from an ambulatory surgical care perspective.Methods: FLACS was initiated in 2017 with the LenSx® laser (Alcon Vision LLC., Fort Worth, TX). The incremental cost of FLACS, cases needed to break-even, return on investment (ROI), patient education, and marketing efforts were assessed. The financial analysis considered cataract volume, conversion rates, fixed (eg, principal) and variable (eg, supplies) costs, and revenue in the first 12 months.Results: The clinic performed 2717 cataract surgeries in the 12-month period, with 1304 (48%) of patients converting to FLACS. Of FLACS procedures, 613 (47%) selected an advanced-technology intraocular lens (AT-IOL; eg, toric or lifestyle IOL), and the remaining patients selected a monofocal IOL with laser astigmatism correction. FLACS increased AT-IOL use by 113 procedures (23%) compared to volumes in the year prior to FLACS. Overall, FLACS was predicted to be profitable, with only 13 cases required per month to break even in 5 years. If both facility and physician fees are considered revenue, only eight cases per month are required to break-even in 5 years.Conclusion: The practice experienced a greater-than-anticipated conversion to FLACS and increased selection of AT-IOLs, well above the break-even volume required, contributing to a rapid return on their investment.Keywords: cataract surgery, economic, return on investment, financial pro-forma, femtosecond laser
format article
author George DS
Ainslie-Garcia MH
Ferko NC
Cheng H
author_facet George DS
Ainslie-Garcia MH
Ferko NC
Cheng H
author_sort George DS
title Successful Implementation of Femtosecond Laser-Assisted Cataract Surgery: A Real-World Economic Analysis
title_short Successful Implementation of Femtosecond Laser-Assisted Cataract Surgery: A Real-World Economic Analysis
title_full Successful Implementation of Femtosecond Laser-Assisted Cataract Surgery: A Real-World Economic Analysis
title_fullStr Successful Implementation of Femtosecond Laser-Assisted Cataract Surgery: A Real-World Economic Analysis
title_full_unstemmed Successful Implementation of Femtosecond Laser-Assisted Cataract Surgery: A Real-World Economic Analysis
title_sort successful implementation of femtosecond laser-assisted cataract surgery: a real-world economic analysis
publisher Dove Medical Press
publishDate 2021
url https://doaj.org/article/ff5f2477f0c54318a0114539956b993b
work_keys_str_mv AT georgeds successfulimplementationoffemtosecondlaserassistedcataractsurgeryarealworldeconomicanalysis
AT ainsliegarciamh successfulimplementationoffemtosecondlaserassistedcataractsurgeryarealworldeconomicanalysis
AT ferkonc successfulimplementationoffemtosecondlaserassistedcataractsurgeryarealworldeconomicanalysis
AT chengh successfulimplementationoffemtosecondlaserassistedcataractsurgeryarealworldeconomicanalysis
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