The financial impact
Studies have shown that people wearing contacts and glasses spend an average of $700 a year. The $700 includes the cost of glasses, contacts and solutions. It also assumes a co-pay for your doctor’s exam. If you self-pay for eye exams, your cost would be a little higher.
Figuring out the payback timeline seems to be straight-forward, but it is not. There are other factors. For example, do you wear your contacts almost around the clock? Have you had eye infections as a result? Do you suffer from dry eyes due to your contacts? All of these items can impact and accelerate the financial payback to having LASIK performed.
Also, there is new evidence that constant contacts wearers have a higher frequency of tear duct interference which can cause dry eyes. The reason appears to be from the eyelid going over the contact lense thousands of times. When this happens, it is possible to start a wear pattern on the tear ducts that secrets the oil in your eyes that helps slwo the evaporation of tears. As these tiny glands that secret the oils break down, you can develop dry eyes due to the tiny oil film on your eyes being depelted. This can require the use of artificial tears to keep your eyes moist.
When these factors are taken into consideration, the payback for LASIK from the best providers is conservatively 5-6 years. When this is added to the lifestyle impact it makes the decision easy for many people.
5-6 Year Return on Investment (ROI)
|
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
Year 6 |
|---|---|---|---|---|---|
| Eyeglasses Contacts Contact Solution Annual Eye Exam$700
|
Eyeglasses Contacts Contact Solution Annual Eye Exam$700
|
Eyeglasses Contacts Contact Solution Annual Eye Exam$700
|
Eyeglasses Contacts Contact Solution Annual Eye Exam$700
|
Eyeglasses Contacts Contact Solution Annual Eye Exam$700
|
Eyeglasses Contacts Contact Solution Annual Eye Exam$700 |
| $700 | $1,400 | $2,100 | $2,800 | $3.500 | $4,200 |
What if we look at 30 years?
Although the simple payback is conservatively 5-6 years, what if you have LASIK at 35 years old and eliminate contacts and glasses for the next 30 years? What does that value look like?
|
Year 26 |
Year 27 |
Year 28 |
Year 29 |
Year 30 |
|---|---|---|---|---|
| Eyeglasses Contacts Contact Solution Annual Eye Exam$700 |
Eyeglasses Contacts Contact Solution Annual Eye Exam$700 |
Eyeglasses Contacts Contact Solution Annual Eye Exam$700 |
Eyeglasses Contacts Contact Solution Annual Eye Exam$700 |
Eyeglasses Contacts Contact Solution Annual Eye Exam$700 |
| $18,200 | $18,900 | $19,600 | $20,300 | $21,000 |
TOTAL AVOIDED COST with Zero Inflation! |
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