Phakic IOLs are clear implantable lenses that are surgically placed either between the cornea and the iris (the coloured portion of your eye) or just behind the iris. Phakic lenses enable light to focus properly on the retina for clearer vision without corrective eyewear. The key difference between this procedure and RLE is that the natural lens is not removed.
If you are unsuitable or not a good candidate for laser vision correction then this may be an option. Another benefit is that the procedure is also reversible.