Tags: contact | lens | prices | legislation

Contact Lens Legislation Will Clearly Raise Prices

Contact Lens Legislation Will Clearly Raise Prices

(Dollar Photo Club)

By
Sunday, 31 July 2016 09:16 AM Current | Bio | Archive

The year of 2003 was a time of revolutionary change in the contact lens industry.

Since the Republican-controlled Congress enacted the Fairness to Contact Lens Consumer Act, consumers have enjoyed the freedom to choose their own contact lens supplier and shop for the best prices available.

This overhaul of the industry allowed a number of new online providers and retail stores, such as Walmart and Costco, to enter the contact lens industry. The influx of suppliers has allowed competition to flourish, making contact lenses more affordable and easily attainable for the average American.

By 2014, the lower costs that came as a result of this free market competition allowed over 41 million people to purchase contact lenses within the newly-opened $4.5 billion market.

Unfortunately, however, this laissez-faire policy has come under threat by proposed legislation that would strip Americans of their right to decide where they can purchase lenses. The Contact Lens Consumer Health Protection Act, introduced by Senator Bill Cassidy, R-La., would essentially empower eye doctors to artificially increase their market share by mandating where patients can shop for lenses.

Under current law, there are already adequate checks and balances between contact lens vendors and doctors’ offices. Online sellers are required to verify an order with the prescribing doctor. The doctor has eight hours to reply; if no reply is made, the prescription is considered valid and the order is filled.

Cassidy’s new act plans to stymie this reasonable process by requiring that all contact lens sellers provide their phone number, fax, and e-mail address to the eye doctors. The new mandates will give doctors an indefinite amount of time to approve requests and ask vendors questions, allowing them to inundate sellers with inquiries and ignore their responses. The eye doctors’ isolationistic communications strategy could potentially cause indefinite ordering delays from online and wholesale stores, forcing patients to purchase their lenses directly from the price-jacking eye doctors themselves.

Senator Cassidy’s co-author, Senator John Boozman, R-Ark., has also authored a related measure in the Financial Services Appropriations bill. The measure would encourage funds for the study of health problems related to the use of contact lenses that are purchased from online sellers as compared to those purchased from the prescribing provider. The biased research results could then be used to ban wholesale contact lens vendors from competing with eye doctors on the market.

Both the Contact Lens Consumer Health Protection Act and Senator Boozman’s measure were written under the guise that consumers need protection from the supposed dangers of buying contact lenses from anyone other than an eye doctor. However, the fact of the matter is that current eye laws pose no dangers to American consumers.

Current law states that patients must first visit an eye doctor to get an eye exam and prescription. After they receive an exam from a licensed professional, they can then purchase contact lenses from anyone – including wholesalers and online retailers – without worrying about any adverse consequences. Dr. Paul B. Donzis, Ophthalmology Professor at UCLA, made this point clear in a letter that he sent to Senator Cassidy. “Based on authoritative scientific articles,” the eye doctor said, “it appears that online sales of contact lenses have not contributed to any increase in incidence of contact related injury.”

And the trained ophthalmologist is, of course, correct. Clearly, Cassidy and Boozman’s legislation is not about consumer safety, it’s about ensuring that the cartel of big contact lens manufacturers can cement its stranglehold on the market. Thankfully, supposed free market conservatives currently pose a clear majority in the legislative body and can steer this protectionist legislation right into the Congressional floor trash can. It’s time for Republican congressmen to stand firmly to the values they claim to espouse and reject this protectionist bill immediately. The nation’s 41 million contact users are counting on them to do so.

Christopher (Chris) Versace is the editor of the newsletter The Growth & Dividend Report and is a featured columnist to The Street.com as well as a contributor to FoxBusiness.com and Forbes.com. To read more of his blogs, CLICK HERE NOW.

(Revised Aug. 2, 2016)

© 2019 Newsmax Finance. All rights reserved.

   
1Like our page
2Share
ChrisVersace
The year of 2003 was a time of revolutionary change in the contact lens industry.
contact, lens, prices, legislation
686
2016-16-31
Sunday, 31 July 2016 09:16 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved