Albuquerque eyecare startup Everyday Contacts is prepping for its product launch with millions of dollars in the bank.
The company has developed a direct-to-consumer style contact delivery service and online platform that gives purchasing power to the patient but only with doctor approval.
In turn, doctors are supposed to make more money from their existing patients with a cut of each sale. Using the online platform, doctors can "view and change the contact lens prescription and patient information," according to Everyday Contacts founder and CEO Lawrence Chavez. Everyday’s platform also allows users to view information about their prescription and manage their subscription.
Contact lenses are routinely prescribed by doctors, allowing patients to obtain them. And with the rise of direct-to-consumer models, patients can purchase them through online retailers, making it a very convenient option.
However, Everyday Contacts founder and CEO Lawrence Chavez contends that getting lenses from a doctor leads to a higher quality of care. The reason, he said, is because the patient is not “assured of getting the lens that was prescribed.”
Additionally, “poorly fitting or improperly used contact lenses can result in serious eye health and vision complications,” according to the American Optometric Association (AOA).
The AOA, which represents doctors and optometry students, made the declaration in December after public scrutiny of contact lens retailer Hubble and its business practices. Hubble was later fined $3.5 million as part of a settlement with the Federal Trade Commission, which alleged that it failed to obtain customer prescriptions among other things, the New York Times reported.
Everyday Contacts, which employs six people, is raising its next round of funding. Chavez declined to disclose how much money has been raised as part of that round but said total investment stands at $2.2 million. Members of the New Mexico Angels investment organization have invested in the company, Chavez said.
The company will launch on the market in March at a price of $50 per month, offering users with silicone hydrogel contact lenses. Those lenses are produced by an undisclosed company in Asia, according to Chavez. The startup is also developing a new, more advanced type of lens for future rollout, he said.
For now, Everyday Contacts is focused on commercializing its sales model. The company was founded in 2015 following Chavez’s stint at the Flywheel Ventures VC in Santa Fe. A couple of doctors in the state will have access to Everyday Contact lenses, although most doctors in the network are out of state, according to Chavez.
