Provider inSights Q3 and Q4 2024 Report
The Provider inSights Q3 and Q4 2024 Report, published by The Vision Council, delivers critical insights into the operational trends, challenges, and outlook of eyecare providers across the United States. The report draws on feedback from a broad range of eyecare professionals including optometrists, opticians, ophthalmologists, and practice managers, capturing the pulse of practices as they navigated the latter half of 2024. The report sheds light on key industry developments including economic sentiment, inflation impacts, staffing shortages, practice investments, AI adoption, telehealth services, and tariff concerns.
Methodology
This study was conducted online, targeting a diverse panel of U.S.-based eyecare professionals, including optometrists, opticians, ophthalmologists, and practice managers. All respondents were affiliated with practices providing eye exams or prescription eyewear services. The sample size of 192 provides a margin of error of ±7% at a 95% confidence level. The survey was not weighted, and no quotas were imposed, ensuring organic representation across independent practices, corporate chains, and private equity-backed clinics.
Key Findings
Economic Outlook and Practice Performance
- 54% of providers anticipate the U.S. economy will remain stable or improve in 2025.
- The report also includes the percentage of providers that met their revenue goals in the second half of the year.
Inflation and Tariff Pressures
- 70% reported that inflation affected their practices, particularly through increased patient price sensitivity—a key concern for eyewear sales.
- The report also includes the percentage of providers who expect a moderate to severe inflationary impact in 2025, with wholesale supply costs and exam pricing adjustments playing a role, as well as how many believe new tariffs will raise costs of products, supplies, and equipment, prompting potential price hikes for patients.
Staffing and Labor Shortages
- Hiring staff remains the biggest challenge, despite a 7% improvement in staff retention in the second half of 2024.
- The report also includes information about how many practices report being optimally staffed, and the percentage that report severe or extreme shortages in qualified professionals, especially opticians.
AI in Eyecare
- 28% of providers report using artificial intelligence (AI) in their practice, with another 33% planning to adopt AI tools in the future.
Practice Investments
- The report details the percentage of practices that made major practice investments in late 2024; as well as the data on plans to make investments in 2025.
Why it Matters
This report is an essential resource for industry leaders, investors, and practitioners seeking to understand the evolving landscape of vision care. With exclusive, trended data and expert analysis, the Provider inSights Report delivers actionable intelligence to help navigate challenges, uncover opportunities, and make smarter business decisions in the optical industry.
Report Delivery
The report will be delivered via download in a PDF format.