Leading laser eye surgery specialist Laser Sight Centres is set to profit from a move by AXA Health to add the procedure to its list of benefits.
This is the first time a health insurer has recognised laser eye surgery in Australia and could spell a boom for the laser vision correction industry.
Leading health insurer AXA Health is offering its 'Ultimate Health Cover' members 100 per cent cover for laser vision correction procedures carried out by Laser Sight Centres.
According to Mr Dean Powrie, Managing Director of Laser Sight Centres, the move by AXA Health is likely to make laser vision correction surgery a viable option for many more people, which has positive implications for the business.
"The potential market for laser vision correction in Australia is huge," Mr Powrie said.
"About 5.5 million people currently wear some form of correction for their vision, usually glasses or contact lenses. Of these, about 80 to 90 per cent can correct their vision permanently using the LASIK technique in which we specialise.
"Historically, some people have been reluctant to undergo laser eye surgery because of the perceived expense. Private health insurance cover of the procedure eliminates this barrier.
"As an AXA Health preferred supplier this is likely to have a positive impact on our revenue.
"We hope other insurers will follow AXA Health's lead and add the procedure to their list of benefits, so that we can help improve the quality of life of many more Australians", Mr Powrie continued.