Patients Favor CareCredit Financing: 44% Would Switch, 59% Cite LASIK Cost
Synchrony’s CareCredit study of 2,000 consumers finds 44% would switch vision providers for payment options and 59% cite cost as the main barrier to LASIK procedures averaging over $3,000. Only 22% recall being offered financing despite 55% preferring providers with payment plans and 78% of Gen Z delaying care.
1. Key Survey Findings
The VisionIQ survey of 2,000 U.S. consumers reveals cost barriers dominate vision care decisions: 55% are more likely to choose providers offering payment options and 59% cite cost as the primary reason for not pursuing LASIK, which averages over $3,000 per procedure.
2. Financing Gap Highlighted
Despite strong demand—8 in 10 consumers would consider financing at around $761—only 22% recall providers offering payment plans and 44% say they’d switch providers entirely for better financial convenience.
3. Generational Dynamics in Care Demand
Gen Z faces the steepest financial hurdles: 78% report cost impacts on care frequency, half express LASIK interest yet account for just 5% of actual procedures, and 33% own designer frames, indicating high style-driven demand.
4. Strategic Implications for Synchrony
With over 12 million CareCredit accounts and $40 billion in available credit accepted at more than 26,000 vision providers, Synchrony can capture unmet financing demand, boost receivables growth and strengthen provider partnerships.