Fact vs. Fiction
Fiction - EssilorLuxottica offers doctors choices with its formularies.
|Fact - EssilorLuxottica loves choice as long as it’s a choice of their products and services.
EssilorLuxottica blocks VSP products from its formularies.
In addition to being the primary provider of lens and lab services within EyeMed, the company has struck similar arrangements with Spectera, Davis and Versant.
Fact - No one offers more choices than VSP.
VSP's formulary includes virtually every lens product in its formulary, including those made by EssilorLuxottica.
Our contract lab system includes nearly 175 labs across the country.
VSP’s preferred lens partners include not only Unity, but also ZEISS, Hoya, and Maui Jim, allowing doctor choice at the current reimbursement levels they enjoy today.
|Fiction - Changes to the VSP Ophthalmic Formulary took EssilorLuxottica by surprise.||Fact - There was no surprise.
VSP approached EssilorLuxottica multiple times before announcing this decision on our formulary changes.
|Fiction - EssilorLuxottica invests in doctors.||Fact - EssilorLuxottica delivers half of its multi-billion dollar profits to shareholders.
EssilorLuxottica is a publicly traded company that uses doctors to generate profit for shareholders. In fact, 50% of EssilorLuxottica’s profits go to its shareholders.
EssilorLuxottica generated nearly $18 billion in revenue in 2019 and nearly $3 billion in operating profits.
Their worldwide empire includes owned entities in virtually every vertical of the market, from frames and lenses, to optical labs, retail, ecommerce, vision plans, and doctor groups.
EssilorLuxottica uses the profits from their sales to subsidize EyeMed, often competing for employer bids with zero-cost contracts that allow them to win the business and take patients from the VSP network and drive them into their retailers.
Fact - VSP is a not-for-profit that reinvests in doctors.
VSP was founded more than 65 years ago to help drive patient access for doctors.
Over the past five years, VSP has delivered 104 million patients to VSP Network Doctors and more than $11.9 billion in revenue to Premier Program practices.
86% of VSP’s revenues go to doctors via reimbursements and other support.