CINCINNATI, April 2, 2013 /PRNewswire/ -- LCA-Vision Inc. (NASDAQ: LCAV), a leading provider of laser vision correction services under the LasikPlus® brand, today reported that 16,272 procedures were performed during the first quarter of 2013, compared with 20,987 procedures performed during the first quarter of 2012.
"We faced a difficult comparison with the first quarter of 2012 where year-over-year procedure volume increased 11%. We also believe that the lowering of the maximum contribution for flexible spending accounts to $2,500 from $5,000, which took effect at the beginning of this year as mandated under the federal Patient Protection & Affordable Care Act, had a negative impact. Results from a recently conducted company-sponsored survey showed that lower contribution amounts to flexible spending accounts and health savings accounts put approximately 10% of prospective LasikPlus® patients at risk for not moving forward with the procedure," said LCA-Vision Chief Executive Officer Michael J. Celebrezze. "We started the first quarter with a significant deficit in patient bookings compared with the prior year; however, we gained some ground in bookings and procedures as the quarter progressed, which we attribute primarily to improvements in our direct-to-consumer advertising."
LCA-Vision will release first quarter 2013 financial results prior to the market open on Tuesday, April 30, 2013 with a conference call and webcast to follow at 10:00 a.m. Eastern time.
To access the conference call, dial 866-322-1352 (within the United States and Canada) or 706-643-6246 (international callers). The webcast will be available at the investor relations section of LCA-Vision's website. A replay of the call and webcast will begin approximately two hours after the live call has ended. To access the replay, dial 855-859-2056 (within the United States and Canada) or 404-537-3406 (international callers) and enter the conference ID number: 28928042.
About LCA-Vision Inc./LasikPlus®
LCA-Vision Inc., a leading provider of laser vision correction services, owns and operates 54 LasikPlus® vision centers in the United States: 49 full-service LasikPlus® fixed-site laser vision correction centers and five pre- and post-operative LasikPlus® satellite centers.
For Additional Information
Investor Relations Contact:
Barb Kise, LCA-Vision
Jody Cain, LHA
SOURCE LCA-Vision Inc.