Jim,
I also use to believe that the moible units was a big plus for LVCI;
however, I have recently changed my opinion. Consider the following
chart and information from an article entiled "Patients of the Future:
Marketing to the Post-RK/Prk Patient written by Wendy J. Meyeroff in
Vol. 7, No.2, Summmer 1997 edition of "Optometric Economics".
"Optometric Economics" is published quarterly by the American
Optometric Association.
REVISED CONSERVATIVE ESTIMATE OF THE U.S. PRK MARKET
End Systems Annual Annual# Cumulative Cumulative
of in Procedures of People of Vision Care
Year Place per System Procedure Treated Population
1996 400 270 108,000 63,600 0.04%
1997 525 480 252,000 177,000 0.11%
1998 650 600 390,000 372,000 0.22%
1999 850 750 637,500 690,750 0.41%
2000 1,050 900 945,000 1,163,250 0.65%
Data was courtesy of Irving J. Arons, managing director of Spectrum
Consulting of Peadbody, Massachusetts.
The point I want you to consider is that there is going to be a laser
within a short drive of 90% of Americans within the near future if it
doesn't already exist. Also consider that LASIK is currently the
procedure of choice and is being performed bilaterally in many
locations. Therefore, the patient only has to make one trip to the
laser center. Pre-op and post-op care is routinely performed in the
patient's hometown usually by their current eyecare professional. If
an enhancement is needed it, it probably won't be performed for at
least 6 months.
Did you realize that last year most of the procedures performed in
Canada were performed on American Citizens. If a person is going to
go to Canada in order to have the best procedure preformed do you
really think they are going choose a van over driving 1 hour to a
surgical center? Patients are funny about their eyes. They don't
like taking chances.
I noticed that Cincinnati LCA Vision Laser Center recently added a
VISX Star Excimer Laser System. I believe that many laser centers in
the future will have multiple lasers as they try to keep up with the
latest advancements and FDA approvals. What is best for one patient
may not be the best for the next. Is LCVI going to place different
lasers on the van depending on which patient they are seeing today?
I am also concerned about the wear and tear on the laser. I wouldn't
want to be driving around day in and day out with my computer in the
trunk of the car. I would hate to be the one under the laser when it
misfires or is slightly out of alignment.
Which company will come out on top is anybodies guess, but I don't
believe the mobile unit will be a major factor. As soon as the
number of procedures per unit increase, it will be more cost effective
to keep the unit in one place. I currently prefer LCAV because I
believe they have been more selective in choosing their markets with
an emphasis on making sure each center becomes profitable. In
addition, I didn't like the way LVCI diluted its stock in 1996 without
much reqard for its shareholders.
Cisco |
