ECP Insights Report with Special COVID-19 Update now available

The Vision Council has released the results of the February 2021 Eyecare Provider Insights Survey. The survey was fielded to the organization’s panel of more than 1,700 eyecare providers during the last week of February. This survey included a special section on issues specifically relating to COVID-19, including vaccinations, safety precautions, and business assistance. The survey, which launched in March 2020 and is being conducted on an ongoing basis to track the state of the optical market, regularly asks respondents to provide insight about how business conditions—including number of eye exams, capture rate, revenue, and staffing—compare to a typical month, pre-pandemic. The survey also asked respondents for their insights on their economic outlook for 2021.

Download the ECP Insights Survey Report for February 2021.

Eyecare providers report a high vaccination rate 

As of the last week in February, 70% of all respondents were partially or fully vaccinated, which is a much higher rate than the CDC estimate of approximately 28% for the general public (as recorded on March 9, 2021). While still higher than the general public, opticians were less likely to report being partially or fully vaccinated than those in other roles (57%). 

Source: The Vision Council Eyecare Providers Survey, February 2021, n = 320

However, there is some vaccine hesitancy among staff 

When eyecare providers were asked about their perceptions of their colleague’s likelihood to get vaccinated against COVID, 60% of respondents reported there was some staff hesitancy to get the vaccine. 

Despite the report of hesitancy, less than 5% of respondents said their practices offer incentives for staff to receive the vaccine. A third of practice owners did not know the vaccination status of their staff members. 

Source: The Vision Council Eyecare Providers Survey, February 2021, n = 320

Practice owners find some relief in government assistance programs 

Given the reduction in business over the last year, 72% of owners said they applied for some type of business assistance.

Of those who applied for assistance, nearly all (96%) applied for the Paycheck Protection Program (PPP) loan/grant, with a 97% approval rate. The second round of PPP funding is ongoing, so the lower approval rate may reflect open applications not yet approved. Overall, government and private assistance programs have provided much-needed funds equal to about 10% of practices' typical annual revenue. 

Source: The Vision Council Eyecare Providers Survey, February 2021, n = 144 (owners only) 

From consumer opinions to optical market reports, The Vision Council offers hundreds of industry studies for free to members as well as exclusive access to custom research projects. To learn more about how industry research and analysis can drive your business forward, contact Nathan Troxell at ntroxell@thevisioncouncil.org.

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