What's really important about your clinic business? Is it the size of the facility you own or the amount of profit you make every month? What about running your clinic on a cash-basis instead of insurance-based services? Do you want to be able to charge higher fees and have more freedom, flexibility and be able to treat your patients without any limitations?
Welcome to the PelviBiz Podcast! I’m your host, Dr. Kelly Alhooie, founder of OrthoPelvic Physical Therapy, Pelvic Health Business Grower, and PelviBiz Podcast. In this week’s episode, I will be talking about The difference between “cash” and “insurance-based” clinics and which model would be more beneficial for your patients and for your business if you are looking for more freedom, flexibility and be able to treat your patients without any limitations. It's time to learn how you can make a private practice work within these models.
I will touch on such topics as:
- Some patients are not aware of their insurance policies and they have no idea on the amount they need to pay for the treatment. This puts the clinic in a difficult situation because of this issue, as they have to deal with many queries regarding their policies.
- In an insurance-based model, you're forced to abide by their rules—rules that don't always make sense or take into account your patients' needs. You're forced to follow their regulations and guidelines, regardless of whether they make sense for your practice or your patient's health.
- The main challenge is that insurance-based clinics are not allowed to charge more than what is covered by insurance, which means they can't offer any extra services or treatments. So, patients who come to these clinics will have limited options when it comes to treatment.
- Insurance-based models tend to have a lower profit margin than cash-based models.
- By going cash based you can create options with different additional services or products for your patients.
- The more that we invest into something, the more that we are compliant on something because we want to have a good outcomes
- In a cash based clinic, you can provide more time with your patients, increase your profit, and improve customer service.
- Cash based clinics can easily survive and pivot quickly in the healthcare competition by offering patients a higher level of personal service.
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Over 100 pelvic health providers are coming together to build a community and eat and drink. Best part is you get to learn what other therapists are doing and what is working for them.
If you are interested, sign up HERE.
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