VSP announces brick-and-mortar stores, doctor transition program

VSP Global announced its intent to open three brick-and-mortar Eyeconic locations as well as launch the new VSP Ventures, a business designed to offer a care-focused choice for doctors looking to transition their practices.

VSP Ventures will assist the transition process for doctors looking to retire or to implement a new business model, the company said in a press release.

“Benefits managers are demanding more substantial retail options, and doctors have been asking VSP to create a doctor-centric alternative to private equity. It’s critical for VSP to ensure this evolving landscape serves both our members and VSP network doctors in mutually beneficial ways,” VSP Global President and CEO Michael Guyette said in the release. “A well-defined network strategy, which includes retail, allows us to provide a variety of options for doctors at every career stage and in every kind of practice setting — from privately owned, to dispensary-managed, to VSP-owned and operated.”

The three Eyeconic stores will open in the Chicago market throughout 2019, VSP said in the release. They will be an extension of VSP’s ecommerce site, eyeconic.com, which connects products, services and a VSP network doctor to the company’s customer base.

“In collaboration with our innovation lab, The Shop, we’ve identified a unique, uncommitted customer who seeks a differentiated eye care and eye wear-buying experience,” VSP Retail President Bill Vaughan said in the release. “In partnership with a doctor of optometry, Eyeconic is well-positioned to meet changing customer requirements by creating a digital and physical brand environment based on personalization, choice and well-being.”

Each store will be wholly owned and operated by VSP, according to the company’s release, with a sublease model for VSP network doctors. Markets set to receive brick-and-mortar stores had previously shown high numbers of out-of-network claims at optical chains and mass retailers.