Implantable contact lenses are often called Phakic intraocular lenses. That means the lenses are implanted in the eyes to correct myopia which is the state you are unable to see objects at a far distance clearly. However, implantable contact lenses and intraocular lenses are very different.
The term Phakic just means an intact natural lens. Generally, intraocular lenses are used to replace the natural lens in the eye when your eyes get damaged by a disease, such as cataract. The implantable contact lenses are implanted in the eye to work together with the eye's natural lens for the purpose of correcting vision problems. Usually the implantable lenses are for those whose natural eye lens has not been damaged. In other words, an implantable lens is used from the vision angle, while intraocular lens is used from the disease angle.
Since an implantable contact lens can correct a wider range of myopia than laser refractive procedures, it is often used as an alternative to the laser intervention. The surgical procedure which implants the lenses into your eyes is very safe and you do not need to worry about the complications. The risk involved in this procedure is very low for patients.
Another very important advantage is that you can remove these lenses easily without any damage to the natural lens. Thus you will not feel any discomfort when you take away these lenses from your eyes. Unlike contact lenses, implantable contact lens requires less maintenance. Commonly one lens is implanted at a time and after a period of time your doctor will carry out this procedure on the other eye. And you will not feel the presence of these lenses in your eyes. Immediately after this surgical procedure, you can have an absolutely clear vision.