Cash Medicine
Tuesday, 21 May 2013
Written by Sherry Krueger
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Cash Patients - Doctors Think it is a Blessing, Staffers a Curse |
Incorporating cash patients into your practice may be the difference between surviving in practice and thriving in practice. How you implement your policy to get more patients and improve practice revenue will be the key to your cash practice success. Your staff needs to be on-board with your policies to make them successful, and this may be more difficult than you first imagine.
Tuesday, 26 March 2013
Written by Robin Sanders
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Charity Begins at Home…or in This Case the Practice! |
Providers know there are many ways to improve practice revenue and that not all of those would be a good fit for their practice. We at Healthcare Networks of America are here to help highlight some of those choices and assist our providers in the decision making process of whether or not possibilities are worthy of their time to consider.
Children’s vaccinations have become a hotly debated topic for the last 10-12 years. This can be a dicey topic for any practice and, if taken poorly, could potentially affect practice revenue. There is a way to use the immunization issues to your medical marketing advantage, however: education for your patients.
In an ongoing effort to improve practice revenue for healthcare providers, Healthcare Networks of America will continue to suggest ideas that have worked for others. One avenue is to tap into the need for youth athletes to acquire a sports physical before they are allowed to practice or compete. The sports physical is more than the formality that it once was, so the healthcare provider who performs them should be knowledgeable in performing sports physicals in addition to how they can impact the doctor’s practice.
These days, it is becoming increasingly difficult to generate reasonable profits out of practicing medicine. Though the primary purpose of the field of medicine is to help the patients heal and maintain good health, the medical practitioners can still be termed as owners of their own business, who also have salaries, operating expenses and taxes to pay. Often times, these practitioners have to look for additional ways to make more revenue. This raises the question and viability of ancillary services to improve practice revenue.
Thursday, 07 March 2013
Written by Joan Westlake
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Energize Your Practice with Cash and Ancillary Medicine Strategies |
Thriving in private practice medicine today includes moving away from third-party reimbursable services to cash and ancillary income. "Cash medicine" includes a range of ways to infuse funds. One approach is to provide healthcare products and services that are purchased by patients but not reimbursable by insurance such as nutritional supplements or laser pain therapy. Another method is to accept cash only for services that could be reimbursable. "Ancillary income" is providing products reimbursable by insurance but often purchased from outside vendors such as Durable Medical Equipment and pharmaceuticals.
As you continue to look for areas to improve practice revenue, don’t overlook the opportunities available to provide school physicals for your local schools. With the increased emphasis on detecting healthcare problems early or to prevent them from occurring, school physicals can be a golden opportunity for independent healthcare providers to perform a community service, while creating a source to get more patients seeking additional treatment in your clinic.
Health fairs are a proven way to get more patients and improve practice revenue. Your level of participation will have a great impact on the return you should expect from your efforts. This can range from manning a booth in a large scale health fair sponsored by your local news media to complete planning and organization of a health fair for your local community. Either way will require time from you and/or your staff, but you should expect different results from your different levels of participation.
Know the Score When it Comes to School Team Drug Testing Following the high profile drug scandals involving Lance Armstrong, Major League Baseball, and every Olympic Games during my lifetime, drug testing is being performed at lower levels throughout the sporting world. High school sports governing bodies are increasing their use of drug testing with surprising results. Offering your services to high schools in your area to take samples and oversee the testing procedures for possible drug abuse can be a source to improve practice revenue while you help protect young athletes from the dangers of illegal drugs.
One attractive alternative to remaining in private practice in a healthcare environment that is becoming more amalgamated and regulated is to expand the group practice into an urgent care facility. The need for less costly urgent care than the traditional emergency room treatment will become more pronounced as the full impact of the PPACA is thrust upon the American public. Cost containment through Accountable Care Organizations (ACOs) will provide opportunities for small group practices to increase their practice revenue by offering after hours, non-life threatening, and urgent care to patients at an affordable cost. Any avenue of ancillary care which…
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