IOR Partners, a management organization specializing in helping small ophthalmic practices, is working to give ophthalmologists the autonomy to operate outside traditional hospital and ASC settings, according to an Oct. 13 report from the Kansas City Business Journal.
The Kansas City, Mo.-based company has seen its two-year revenue growth hit 153.6%. The company focuses on building surgical suites in eyecare provider offices, giving them autonomy to perform procedures on patients.
It works with physicians nationwide to turn their offices into in-house surgery centers, helping to build and maintain office-based surgical suites.
Once construction on the suite is complete, the surgery center has everything physicians need to perform procedures for patients with cataracts, glaucoma and other eye diseases, according to the report.
IOR has 65 active centers and plans to open eight more by the end of the year. By next fall, it plans to have 120
Its revenue has grown from $1.98 million in 2020 to $12.57 million in 2022.
"These [suites] meet all the criteria that's necessary for safety and quality, but since it is only focused on ophthalmology, it doesn't come with the price tag of a traditional ambulatory surgical center," James Williams, CEO of IOR, told the Business Journal. "Traditional ambulatory surgery centers can cost $3 million to $4 million. We can do this for $250,000."