Feb. 28, 2024 — The Vision Council (TVC) recently released its Provider inSights Q4 2023 report, highlighting eyecare practice information from surveyed eyecare professionals in the U.S. Respondents included opticians, optometrists, ophthalmologists, practice managers, practice owners, and other ECPs.

TVC research manager Vlad Gupan shared key takeaways following the report’s release, including intel on hiring and staffing for eyecare practices. “Hiring continues to be a weak point for eyecare practices, emerging as the biggest challenge in the final quarter of 2023,” shares Gupan. “Unfortunately, surveyed providers do not expect to see positive changes to hiring in 2024.”

Specifically, most providers surveyed shared that their practices were either slightly understaffed or optimally staffed. Sixty-three percent of respondents shared that their staffing expectations for 2024 will remain the same. For eyecare practice-centric tips on hiring, training, and retention, view EB’s monthly column.

Regarding practice performance, ECPs reported a slightly less successful fourth quarter of 2023 compared to the year’s previous quarters. “Most eyecare providers fell short of their revenue targets for Q4 of 2023,” shares Gupan. “Looking ahead, expectations for 2024 are conservative with only 47% of providers expecting above average or excellent performance on their revenue goals. This suggests a prudent approach as providers recalibrate strategies to adapt to evolving market dynamics and consumer preferences.” For EB’s Economic Outlook for EPCs, head here.

Click here to access TVC’s full Provider inSights Q4 2023 report.