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Vision Care : A Core Workplace Benefit
27 May 2016 Jeremy Chadwick, Managing Director EMEA
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VSP Vision Care We help people see by putting members first.
VSP partners with over 34,000 doctors and 80 million members worldwide 75 million members in the US – nearly 1 in 5 U.S. residents, 5 million members in Australia, Canada, Ireland and the U.K. - VSP is the largest national not-for-profit vision benefits and services company, serving 54,500+ clients, including over half of Fortune 500 companies. - We’re not led by shareholders, so we can focus on helping people see by reinvesting money earned into the advancement of optometry and philanthropic programs in communities around the globe. 34,000 network providers partner with VSP Vision Care 80 million VSP Vision Care members worldwide Largest not-for-profit vision benefits and services company
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Vision Is Important 6 in 10 Fortune 100 companies offer VSP Fortune 500 statistics from July 2015 – 301 having VSP with 475 companies offering a vision plan Fortune 100 statistics from March 2015 – 56 having VSP with 92 companies offering a vision plan 63.4% 61.5% Of companies offer vision care with VSP to their employees
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The Human Eye: Complex Machinery
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Comprehensive Eyesight Exam
Visual Acuity Refraction Test – Determines the amount of vision correction Refractive Errors – Nearsighted, Farsighted, Astigmatism, Presbyopia Visual System Evaluation – External exam, Internal exam and pupil dilation Tonometry Test – “Puff test” measures the fluid pressure inside the eye Digital Retinal Imagery [DRI] – photo of the back of the eye OCT – [Optical Coherence Tomography] 3D slide through the eye
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Prescriptions Astigmatic Presbyopic Diminished focusing as we age
Cornea’s surface is not spherical – creates a twisted image Presbyopic Diminished focusing as we age
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Vision Related Diseases
Diabetic Retinopathy Macular Degeneration Glaucoma
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Eyesight Exam Outcomes
Prescriptions Eye-specific conditions Diabetes Hypertension High Cholesterol
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Excessive alcohol consumption
Employee Health Poor diet Poor health screening Stress Lack of sleep Inactivity Smoking Excessive alcohol consumption Hypertension High cholesterol Chronic back pain Coronary heart disease Cancer Lung disease Kidney disease Diabetes Depression Arthritis Seven employee behaviours linked to employment Are linked to serious condition health risks Top 15 chronic conditions account for 80pc of chronic disease costs worldwide
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Diabetes Growth and Impact - US
UK and Ireland following this trend
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Diabetes - Ireland
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Cost Savings – US Case Study
Year 1 Year 2 Year 3 Year 4 Early detection of diabetes $2,246 Savings Savings increase to $2,787 Savings increase to $3,120
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Measuring the Value A five year independent study conducted by Human Capital Management Sevices identified a 145% ROI on VSP vision plans Companies that target 3 major modifiable risk factors can save an average of £420/employee/year in health care costs and productivity improvements 145% ROI VSP Vision plans £420 Per employee saving
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Better Business Through Smarter Vision Care
Healthier employees, better condition identification and management Productivity improvement Return on Investment from employees and cost avoidance Employee engagement and retention , better benefit buying, wellness programme design
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Discussion/Questions
vsp-ireland.ie vsp-uk.co.uk
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