Therapists are going to be among those taking the biggest financial hit in the Obamacare economy. Clinicians will see more patients coming into the system and substantially reduced payments from Medicare, Medicaid and even private insurance.
No one wants to turn those patients away, but practitioners have to be paid for their services.
One way clinicians are increasing revenues is by offering concierge services.
The only way to survive financially in the present healthcare climate is through diversification.
Concierge practices offer patients premium services and provide clinicians with an additional revenue stream.
Concierge practices have been around for a long time and there’s no reason why small and mid-size therapy practices can’t offer that enhanced level of care.
How It Works
Practices offer patients an enhanced level of access to the therapist for a small monthly fee of $50 to $100. Fees can be collected monthly or annually.
In exchange, patients receive same-day appointments, email/phone consultations, 24/7 access, extended patient encounters and premium access to services not available under current business models.
Concierge clinicians still continue to accept Medicaid, Medicare, private insurance and co-pays.
What a practitioner charges for concierge services reflects his/her confidence and the value of the services offered. Therapists provide a life altering impact on the lives of many patients and for that, they deserve to get paid.
Benefits For Practitioners
A concierge practice allows clinicians to focus on treating a smaller, select number of patients.
Not everyone will want or be able to afford concierge services, but many will.
It’s up to therapists to identify patients who want enhanced services and market to the appropriate clientele.
It means better care for patients, practices that are more financially viable, and happier staff. Clinicians can save by reducing staffing needs and compliance issues, while getting paid faster.
Practitioners have the flexibility to treat patients as individuals and not an assembly line.
Transitioning And Tools
Office systems that automate process will facilitate operation of a concierge practice.
In Touch EMR is an integrated system providing customization that allows clinicians to practice in their own way.
In Touch Biller PRO automates the billing process to accelerate reimbursements.
Clinical Contact and Therapy Newsletter software provides automatic and done-for-you systems to assist in marketing to the select clientele needed for a concierge practice.
Additional resources are available at Obamacareecomony.com to maximize financial opportunities.
Practices are facing significant financial challenges in the Obamacare economy. A concierge practice is just one way clinicians can protect themselves against steadily decreasing reimbursements.
