CPS Optical

What CPS Optical does

CPS Optical, legally Comprehensive Professional Systems Inc., is a privately held vision benefit administrator founded in 1980 and headquartered at 11 Hanover Square, 8th Floor, New York. The company contracts with union welfare funds to administer vision care benefits for their members and eligible dependents, providing automated eligibility verification, benefit usage tracking, and authorization code issuance through a secure online provider portal (CPS SecureData) and a 24/7 Interactive Voice Response (IVR) telephone system. CPS also operates a network of primarily independently owned optometrists across eight states/regions — the five boroughs of New York City, Nassau, Suffolk, Upstate New York, New Jersey, Connecticut, Florida, and Pennsylvania — which collectively serve approximately 3 million members and dependents. All operations are HIPAA-compliant and the company achieved SOC 2 Type II attestation in March 2020.

The core technology is a benefit administration platform that supports customizable eligibility logic (calendar-year vs. service-year benefits, employment groups/subgroups, split dependent benefits) and issues authorizations to control fraud and ensure provider payment. CPS extends its offering with two direct-to-consumer e-commerce sub-brands: CPS Eyewear (online glasses and sunglasses retail, 250+ frames, virtual try-on) and CPS Contacts (discounted online contact lens retailer stocking Alcon, Bausch & Lomb, CooperVision, Menicon America, and Johnson & Johnson). Pricing is contract-based with union welfare funds and not publicly disclosed.

Revenue mechanics combine contracted administration fees with unions and other benefit-sponsoring organizations, plus e-commerce revenue from the consumer-facing eyewear and contact lens sites. CPS targets three customer segments: union welfare funds (plan sponsors), union members and their dependents (end beneficiaries), and participating optometrists (network providers). Growth is driven by direct relationships with union administrators and benefits managers and by recruiting optometrists into the network; customer acquisition relies on references, in-person relationships, and the provider portal rather than broad marketing.

Name

CPS Optical

Legal name

Comprehensive Professional Systems Inc.

Website

https://cpsoptical.com

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

11–50 employees

Short description

CPS Optical (Comprehensive Professional Systems Inc.) is a privately held vision benefit administrator founded in 1980 that contracts with union welfare funds to manage eligibility, authorization, and claims for roughly 3 million members and dependents through a provider network across eight northeastern and southeastern US states.

Ownership category

akta.pro rank

Product category

Managed Vision Care Services

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Optical Goods Retailers (456130)

SIC

Ophthalmic Goods (3851)

akta.pro industry

PRIMARYHLAEAJAK

Union / Association / Affinity Vision Plans

Healthcare & Life Sciences/Health Insurance & Managed Care/Vision Insurance Plans

SECONDARYHLAEANAF

Vision PPO Networks

Healthcare & Life Sciences/Health Insurance & Managed Care/Preferred Provider Organizations (PPOs)

SECONDARYHLAHAJAD

Optical Dispensing & Eyewear Devices (Frames, Lenses, Lens Edging/Finishing Equipment)

Healthcare & Life Sciences/Medical Devices & Diagnostics/Ophthalmic Devices (Vision Care & Surgical)

SECONDARYHLAEAJAH

Vision Discount Plans (Non-Insurance)

Healthcare & Life Sciences/Health Insurance & Managed Care/Vision Insurance Plans

Keywords

• Vision benefit administration
• Managed vision care
• Union welfare benefits
• Optical provider network
• Vision insurance services

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Vision Benefit Administration Services: CPS Optical administers vision care benefits for union welfare funds and organizations. The company charges for managing eligibility verification, authorization issuance, and benefit tracking. Revenue is derived from contracted fees with unions and employers for administering vision benefit programs.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

CPS Optical administers managed vision care benefits on behalf of union welfare funds, processing eligibility, claims, and provider network management for approximately 3 million union members and their dependents across the Northeast and Florida. The company also operates consumer-facing online retail sub-brands (CPS Eyewear for glasses and CPS Contacts for contact lenses) and maintains a Secure Provider Portal plus IVR Telephone System for 24/7 member and provider self-service.

Product overview

CPS Optical operates as a vision benefit administration platform with a single integrated offering rather than a modular architecture. The core product is the vision care benefits administration service, which is supported by complementary systems including an online eligibility verification portal (CPS SecureData), an IVR telephone system for eligibility checks, and two e-commerce sub-brands for end consumers (CPSEyewear.com for glasses and CPSContacts.com for contact lenses). The company also maintains a network of provider optometrists across the northeastern and southeastern United States.

Differentiator

Problem solved

Functional benefit

Brands

• CPS Eyewear: Online glasses retail platform offering over 250 different frames for Mens, Ladies and Kids, including sunglasses, UV and Blue Light protection.
• CPS Contacts

Quantifiable outcome

• Serving nearly 3 million people through its vision benefit administration network.

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Participating Optometrist PracticescoreChannel Partner/ Reseller/ DistributorCPS Optical operates a network of primarily privately owned optometry practices that serve union members as participating providers. These practices verify member eligibility, perform eye exams, and dispense eyewear/contacts under the CPS benefit structure.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• VSP Vision (Vision Service Plan): Largest US vision benefits and managed care company, administering vision plans for employer, government, and union-sponsored groups through a national provider network — directly comparable in core vision benefit administration to CPS Optical.
• EyeMed Vision Care: Major vision benefits administrator owned by Luxottica/EssilorLuxottica, serving employer groups and health plans with managed vision benefits through a broad provider network — directly comparable product and customer model.
• Davis Vision: Managed vision care company that administers vision benefit programs for employer groups, unions, and health plans — overlapping business model and customer base with CPS Optical.
• Versant Health: Vision benefits management company (formerly Opticare/HealthView Services) administering fully insured and ASO vision plans for commercial, Medicaid, and government clients through a provider network.
• Superior Vision: Vision benefits administrator offering managed vision plans to employer groups, unions, and individuals via a participating provider network — directly comparable in administration services and customer types.
• National Vision Administrators (NVA): Third-party administrator of vision benefits for employer groups and labor unions, managing eligibility, claims, and provider networks — directly comparable administration model to CPS Optical.
• Spectera (UnitedHealthcare Vision): UnitedHealthcare's vision benefits brand administering managed vision plans for employer-sponsored and government clients — comparable in scale, services, and B2B customer model.
• Avesis: Specialty managed care company administering vision, dental, and hearing benefits for health plans, government programs, and employer groups — overlapping vision benefit administration business.
• AlwaysCare Benefits: Vision, dental, and disability benefits administrator serving employer groups and associations with managed benefit programs — directly comparable to CPS Optical's employer/union plan administration.
• Coast to Coast Vision: Regional managed vision care network providing vision benefit administration and provider access for union, employer, and association groups — comparable niche focus and provider network model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CPS Optical