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Transcript
Hi, I’m Charlie Biegel. I’m the Chief Operating Officer at Eyefinity. I oversee our customer support, customer onboarding, and product development functions at the company. We provide software to the eye care industry. We serve both the small business segment, which is the small independent optometrist, typically a single doctor, single location to large retail corporate optometry groups, which run hundreds of locations up to a thousand locations. Eyefinity is a software provider to the eye care industry. We service primarily optometry. We’re part of a much larger vertically integrated company called VSP Vision. We are headquartered out of Sacramento, and we’ve been in business for over 20 years. Payments plays a critical part in our business strategy. You know, at Eyefinity, we’re really looking to do two things for our practices, our customers. One is to streamline their operations and workflow. The second is to deliver great experiences to the patients that come in their doors every day. Having an Integrated Payments solution allows them to deliver great patient experiences through the checkout process. It’s seamless, it’s fast. It allows them to accept all the modern payment technologies like Apple Pay. And from an operations standpoint, having Integrated Payments allows them to reduce mistakes, right? You don’t have to read key information into multiple platforms. And so ultimately, that provides a better experience to the patients that they serve every day. Our customers are always asking us about whether we support the latest, you know, payment technologies. Many of our practices now want to offer an experience where instead of sending out paper statements after the patient has left and insurance is reconciled, they want to be able to send out a text message that allows the patient to pay through their phone. They believe that one, will help them increase collections because a lot of these statements that are sent out typically the collection rate is pretty poor. And two, it just, you know, provides a more cost effective way for them to deliver patient statements instead of having to incur printing and mailing costs. This concept of text–to–pay will be important for us in 2024 and beyond. For Eyefinity being able to go to the market with a completely integrated solution basically helps us compete against our competition. We processed, in 2023, over 2 billion in transactions through Worldpay. Of course, of that we get a cut or share of that revenue, which has helped our top line. It’s helped us both from a top line revenue standpoint and two, from an experience standpoint compete in the market with our solution.
