Conexiant
Login
  • Corneal Physician
  • Glaucoma Physician
  • New Retinal Physician
  • Ophthalmology Management
  • Ophthalmic Professional
  • Presbyopia Physician
  • Retinal Physician
The Ophthalmologist
  • Explore

    Explore

    • Latest
    • Insights
    • Case Studies
    • Opinion & Personal Narratives
    • Research & Innovations
    • Product Profiles

    Featured Topics

    • Anterior Segment
    • Glaucoma
    • Retina

    Issues

    • Latest Issue
    • Archive
  • Subspecialties
    • Cataract
    • Cornea
    • Glaucoma
    • Neuro-ophthalmology
    • Oculoplastics
    • Optometry
    • Pediatric
    • Retina
  • Business

    Business & Profession

    • Professional Development
    • Business and Entrepreneurship
    • Practice Management
    • Health Economics & Policy
  • Training & Education

    Career Development

    • Professional Development
    • Career Pathways

    Events

    • Webinars
    • Live Events
  • Events
    • Live Events
    • Webinars
  • Community

    People & Profiles

    • Power List
    • Voices in the Community
    • Authors & Contributors
  • Multimedia
    • Video
    • Podcasts
Subscribe
Subscribe

False

Advertisement
The Ophthalmologist / Issues / 2023 / Oct / Who Owns Ophthalmology?
Anterior Segment Cataract Business and Entrepreneurship Practice Management

Who Owns Ophthalmology?

The patient remains the focus, of course – but shouldn’t physicians “own” ophthalmology?

By Julian Upton 10/10/2023 3 min read

Share

It says something of the quality and breadth of the discussions and seminars on offer at September’s ESCRS 2023 in Vienna that my interest was piqued by a session ahead of the main event itself. Alongside the pre-congress Cornea and Glaucoma Days on September 7 was a debate titled “Who Owns Ophthalmology?” – surely a crucial question in any stakeholder’s book.

With a growth in recent years in private equity (PE) firms entering the ophthalmology space, particularly in Europe, there has been a huge increase in cataract surgeries. Victor Chua, Senior Partner at Mansfield Advisors, illustrated that, by 2027, much of western Europe will see a rise of 26–30 percent in cataract surgeries, compared with 2019. In England, chiefly as a result of PE investment, ophthalmology is the only speciality that is back to pre-pandemic levels. In this respect, England is outperforming Europe – and it’s rare, and quite refreshing, Chua noted, to see England or the UK at the top of any European ranking these days… Outsourced providers “have lower complication rates” than the NHS, he added – this is credited to “surgeon selection.”

But here’s the rub. Private providers in England and Wales are not obliged to train surgeons – “they get a bit of a free pass at the moment,” admitted Chua. And the love affair with PE may not be all it is cracked up to be. The Ophthalmologist Power Lister Guy Kezirian – President of SurgeonVision Consultants and, among other roles, President of Physician CEO – was on hand to rain on the PE parade. Based in the US, where the private model is far more advanced, he noted, “Private equity failures in ophthalmology recur about every 10 years – three times in my career!” The current high interest rates are going to see lots of PE companies fail, he added.

Rather than private equity, Kezirian advocates for the concept of physician equity – a private ownership model that is similar to PE but owned by the physicians. In PE, he explained, the doctors are working for the managers; with physician equity, “the managers are working for the doctors.” Of course, success with this model requires business-savvy physicians – perhaps those who have had some formal business training – but the results are “ownership, financial benefits, and control.” And, as much as anything, the physician has a relationship with the patient that “managers” don’t.

Ultimately, of course, ophthalmology couldn’t exist without the physician, said Kezirian – “so the physician should have ownership.”

What do you think? Is physician equity the answer? Or should we rely on improvements to the private model? Drop me a line at julian.upton@texerepublishing.com

Julian Upton
Group Editor

About the Author(s)

Julian Upton

Julian Upton is Group Editor of The Ophthalmologist and The New Optometrist. With 20+ years' experience of the magazine industry, he has covered many facets of science and healthcare.

More Articles by Julian Upton

Related Content

Newsletters

Receive the latest Ophthalmology news, personalities, education, and career development – weekly to your inbox.

Newsletter Signup Image

False

Advertisement

False

Advertisement

Explore More in Ophthalmology

Dive deeper into the world of Ophthalmology. Explore the latest articles, case studies, expert insights, and groundbreaking research.

False

Advertisement
The Ophthalmologist
Subscribe

About

  • About Us
  • Work at Conexiant Europe
  • Terms and Conditions
  • Privacy Policy
  • Advertise With Us
  • Contact Us

Copyright © 2025 Texere Publishing Limited (trading as Conexiant), with registered number 08113419 whose registered office is at Booths No. 1, Booths Park, Chelford Road, Knutsford, England, WA16 8GS.

Disclaimer

The Ophthalmologist website is intended solely for the eyes of healthcare professionals. Please confirm below: