Cost Emerges as Primary Barrier to Vision Care, Boosting Growth Outlook for CareCredit

A recent VisionIQ study by CareCredit, a Synchrony solution, reveals that cost is the primary barrier preventing consumers from accessing vision care products and services. The findings indicate that 55% of patients are more likely to choose eye care providers who offer flexible payment options to manage their expenses. Regarding surgical procedures, 59% of consumers interested in LASIK cite high costs as the main reason for not proceeding, a factor that now exceeds the fear of surgery itself. The study highlights a significant market gap, characterized by high consumer demand for financing and a relatively low rate of offers from healthcare providers. This data supports a bullish outlook for Synchrony (SYF), as its CareCredit division stands to benefit from increasing the adoption of financing solutions. Analysts suggest that bridging this financial gap could significantly improve patient conversion rates and drive revenue growth within the vision care sector.