Issue: September
2003
at press
time
Peli Offers Hope for
Low-Vision Drivers
Putting the
Visually Impaired on the Road, Safely.
Eli Peli, O.D., a low-vision
clinician for 20 years who heads a large research team at the
Schepens Eye Institute, Harvard Medical School, is leading a
quiet crusade. Dr. Peli believes that visually impaired
persons who desire to drive should be evaluated on an
individual basis, and not be subject to widely varying state
laws that often deny driving privileges to people simply
because they have a specific condition.
"In 27 states, if you have
hemianopia, a loss of visual field almost always resulting
from a stroke, you're prohibited from driving," says Dr. Peli.
"Yet, there are tens of thousands of hemianopes in these
states who are capable of passing a driving test and operating
a vehicle safely. They should first be evaluated by a
neuro-ophthalmologist or a low-vision specialist who has
expertise in assessing their condition and, if the specialist
approves, they should be given the opportunity to take a road
test. In Holland and Belgium, these patients get such an
evaluation."
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Dr. Eli
Peli
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But Dr. Peli is more than just an
advocate. His team is currently developing technology that
will help put more low-vision individuals in the driver's
seat. One example: a prism that's embedded in the eyeglasses
of a hemianope to widen the person's visual field. Another: an
in-the-lens bioptic telescope that simultaneously provides
both high resolution and a wider field of view (bioptic
telescopes can be used by drivers in 34 states).
"We've already had several
hemianopes who obtained driving privileges with the help of
our prism lenses," notes Dr. Peli.
Recently, Dr. Peli and his brother,
Doron, a professional writer, authored a book, Driving with
Confidence: A Practical Guide to Driving with Low Vision.
The book is intended as a comprehensive primer -- covering
each state's current driver-licensing regulations, the
availability and effectiveness of low-vision driving aids, and
recommendations that would expand at least some driving
privileges to a greater number of low-vision
individuals.
"Of course, some people just
shouldn't be driving at all, and to those we offer some
alternatives, as well," says Dr Peli.
Ophthalmologists who read the book,
which can be ordered through the World Scientific Publishing
Company Web site at http://www.wspc.com/or through Amazon.com for
about $18, can use it as a resource to enable them to make
more informed recommendations to their patients concerning the
legal, medical and technological aspects of driving (or not
driving) with visual impairments. The book is in large print
so that visually impaired patients can read it easily.
"When you take away someone's
mobility, you take away a lot," says Dr. Peli. "Some people
just need to drive a few blocks to the supermarket during the
daytime, and we should give them every opportunity to earn a
restricted license if they show they can make the trip
safely."
Eyecare Stocks
Stage a Rebound
New
Technology Sparks Rally.
Spurred largely by the launch of
custom ablation in the United States and the anticipated
approval of phakic IOLs in the near future, many eyecare
stocks have been star performers in this year's stock market
rally. The strong gains have come after almost 3 years of
dismal performance by most stock groups.
Not all eyecare stocks have
participated equally in the advance. (See Stock Watch table on
page 12.) Some companies closely identified with custom
ablation or phakic IOLs have chalked up especially healthy
percentage gains. For example, VISX, which makes the CustomVue
laser system for custom ablation, saw its stock more than
double in the period between the beginning of the year and
mid-August. STAAR Surgical, which expects its Implantable
Contact Lens (ICL) to be the first phakic IOL to receive FDA
approval, saw its stock more than triple during the same time
period.
Even larger percentage gains were
achieved by the stocks of two companies that operate laser
vision correction centers. Both LCA-Vision and TLC Vision
expect to see both procedure volume and fees rise as their
surgeons perform a growing number of higher-priced custom
treatments. The stocks of these two companies increased about
fivefold from the start of the year to mid-August.
Among the larger, more diversified
eyecare companies, Alcon shares continued to make new highs
this year as the company exceeded earnings and revenue targets
each quarter. Alcon has also recently launched a large number
of new products that have captured the attention of eyecare
practitioners, including the LADARVision system for custom
ablation. American Medical Optics' shares have also been solid
performers, with the company's stock tracking higher as the
year progressed and earnings grew. Bausch & Lomb saw its
stock move up several points in mid-summer on the strength of
improved earnings and a brighter future outlook.
Other eyecare-related stocks have
also participated in this year's rally. The stock of QLT Inc.,
the co-developer of Visudyne for the treatment of wet AMD, has
been a good percentage gainer in 2003 as earnings have
surpassed analysts estimates. Inspire Pharmaceuticals, which
is partnering with Allergan on several treatments for dry eye,
is also up solidly since the start of the year.
In fact, in the entire eyecare
realm, it's difficult to find a company outside of the
so-called "penny stock" category whose stock has had a bad
year.
REFRACTIVE SURGERY UPDATE
IntraLase use increases.
IntraLase Corp., developer of a proprietary femtosecond
laser that replaces the microkeratome, said it placed 22 of
its lasers in the second quarter of 2003, marking the
company's strongest quarter since the commercialization of the
IntraLase FS laser early last year. IntraLase has now placed a
total of 64 lasers with refractive surgery practices.
The industry research organization
MarketScope estimates that the IntraLase FS laser was used in
7% of all U.S. vision correction surgeries in the second
quarter of this year, up from an estimated 5% of surgeries in
the first 3 months of the year.
B&L licenses IOL
technology. Bausch & Lomb will partner in the
development of a new, proprietary accommodative IOL
technology. The company has entered into a licensing agreement
with Faezeh Mona Sarfarazi, M.D., inventor of a single-piece,
molded silicone lens with a dual-optic design. Dr. Sarfarazi
is president of Shenasa Medical LLC and Shenasa Inc.
The FDA Ophthalmic Devices Panel
recently voted to give its first "approvable" recommendation
to an accommodative IOL. The panel unanimously approved the
CrystaLens, developed by C&C Vision.
Acquired. CareCredit, a
leading provider of patient payment programs, has acquired
Health Capital Patient Financing. The operations of the two
companies will be combined, with Health Capital Patient
Financing becoming part of CareCredit.
Correction
Outdated information about the
Laser Diagnostic Technologies GDx VCC was printed in the
Retinal Scanners section of the Diagnostic Instrument Buying
Guide, which was distributed with the July issue of
Ophthalmology Management. Here is the listing as it should
have appeared.
Company: Laser Diagnostic
Technologies
Model: GDx VCC (Variable Corneal
Compensator)
Price: $38,950
Warranty: 1 year
Type of Laser: Scanning laser
polarimeter
Filed of View: 20 degrees x 20
degrees
Area of Retina Analyzed:
Peripapillary retinal nerve fiber layer
Printout Detail: Simplified
parameters; deviation from normal and serial analysis
Additional Features: Variable
Corneal Compensation isolates RNFL; <4 micron
reproducibility and 802-eye database provide superior
sensitivity.
Physician Fee
Schedule Is a Mixed Bag
Across-the-Board Cuts Somewhat Offset By Key
Increases.
As generally predicted, the
preliminary 2004 Medicare Physician Fee Schedule holds some
bad news for ophthalmologists in the form of a 4.2%
across-the-board reduction in physician payments, and another
approximately 0.5% downward revision for eye M.D.s due to
refinements in calculating practice expense relative value
units.
However, the unexpected good news
is that the new fee schedule provides modest physician payment
increases in such key procedures as basic cataract surgery,
YAG laser capsulotomy and eye exams for established
patients.
"Our goal now is to obtain the same
kind of legislative relief we were able to get this year and
have these across-the-board cuts reversed," said Catherine
Cohen, American Academy of Ophthalmology Vice President for
Governmental Affairs. "If we can achieve that, we'll have some
nice increases in some of ophthalmology's most high-volume
codes."
Cohen said that it's now important
for physicians to mobilize and oppose the cuts.
The Centers for Medicare and
Medicaid Services will accept comments on the 2004 fee
schedule until Oct. 7. The final fee schedule will be released
in early November.
IN THE
NEWS
Once-a-day timolol. ISTA
Pharmaceuticals said the FDA has issued an approvable letter
for Istalol, a once-a-day liquid formulation of timolol for
treating glaucoma. The company said it can readily address
manufacturing issues cited by the FDA and believes the product
remains on track for approval and launch early next
year.
In clinical trials, the new
formulation demonstrated comparable efficacy and safety to
timolol maleate ophthalmic solution, commonly applied
b.i.d.
Dry eye drug. Inspire
Pharmaceuticals said the FDA has granted priority review
status to the company's New Drug Application (NDA) for
diquafosol tetrasodium ophthalmic solution for dry eye.
Inspire, which is partnering with
Allergan on dry eye treatments, said accelerated review of the
NDA creates the potential for a product launch early next
year.
Changing hands. Alcon Inc.'s
subsidiary in Spain has agreed to sell its contact lens care
solutions manufacturing facility in Madrid, Spain, to the
Spanish subsidiary of Advanced Medical Optics for
approximately $22 million. The sale is expected to close in
November.
Alcon said production of contact
lens care products formerly manufactured in Madrid will be
transferred to other Alcon facilities.
For sale. Pfizer is
exploring the sale of the surgical ophthalmology business it
acquired through its recent purchase of Pharmacia. This
business, which recorded revenues of about $150 million last
year, includes the Healon line of viscoelastic products, and
CeeOn and Tecnis IOLs.
Pfizer CEO Hank McKinnell said the
surgical ophthalmology business lies outside the company's
three core areas of strategic focus -- pharmaceuticals,
consumer health care and animal health.
WhiteStar study. In a recent
study involving 10 cataract surgery patients, surgeons using
WhiteStar technology were able to safely perform bimanual
phacoemulsification without an irrigation sleeve through a
1.2mm incision. The study's authors, led by Eric Donnenfeld,
M.D., concluded that the decreased thermal effects with
WhiteStar technology make an irrigation sleeve over the needle
unnecessary because extensive cooling of the needle during
extraction isn't needed.
Scope of practice. For the
fourth consecutive year, the Alaska State Ophthalmological
Society and the American Academy of Ophthalmology joined
forces to defeat an attempt by the optometry lobby to expand
optometrists' scope of practice in Alaska. Proposed
legislation that would have allowed O.D.s to prescribe oral
drugs and controlled substances, and perform injections, was
killed in state House and Senate committees.
HIPAA reminder. The deadline
for all medical practices to comply with HIPAA standards
regarding electronic transactions is Oct. 16, 2003. This
includes practices that received 1-year extensions last year.
However, the Centers for Medicare and Medicaid Services has
indicated that enforcement will be "complaint driven" and that
practices won't be penalized if they take prompt corrective
action to comply with the new electronic transaction
standards.