subject: Finding Success With Your Cash Only Medical Practice [print this page] Currently, there are about 45 million residents of the United States who dont have health insurance. This alone is reason enough to start a cash only medical practice. Its also a sure sign that youre more likely to be successful since so many people could use your services. Of course, in order to become a success you have to take your cash only medical practice seriously and understand how to start, incorporate, insure, staff, and market your practice effectively. Most people assume that doctors make a killing and have tons of free time to enjoy their riches, but you probably already know that this isnt the case. Whether youre making the change for financial reasons or simply because you want to get back to the basics of healthcare, youve chosen a good path.
Cash only medical practices have a lot of different benefits for patients and physicians alike. You will have a lot less stress and paperwork to deal with because youll eliminate the insurance companies from your administrative to-do list. Youll also enjoy spending more time with patients and less time managing things because there will be less to deal with. Starting a cash only medical practice will allow you to enjoy:
-Reduction in staffing because you no longer need billing and insurance claims specialists
-Reduction in patient volume just to break even in your bottom line
-Increase in patient satisfaction and your own personal enjoyment of being a physician
-More control of your practice because you dont need insurance approval for procedures
-A happier, more successful practice because the focus is on the patients, not paperwork
These are just a few benefits that you can enjoy with a successful cash only medical practice. In order to become successful, there are a few steps that you need to follow, of course. You have to start by setting up your practice properly. Learn the ropes to a cash-only medical facility and follow the guidelines set forth. This includes things like incorporation, insurance for malpractice claims, and other operational issues that need to be handled. Then, youll need to hire staff who can handle reception, secretarial duties, and the small amount of paperwork that you have in your cash-only facility. You will be able to hire fewer people, however.
Once your cash only medical practice is set up and ready to go, you will need to create a marketing plan, following all the rules and guidelines of medical advertising so that you dont create trouble for yourself. Marketing is critical for your practice because it lets people know that youre out there and that youre not just another low-income clinic or public health service that isnt committed to patient care. You can educate people on your practice, your fees, and your level of focus and dedication when it comes to patient care. Marketing is the final step in building a successful cash only medical practice, aside from the obvious day-to-day operations that will continue to build your success and your reputation as a leader in the cash-only industry.
Learn how to start a Cash Only or Niche medical practice at Hippocrates Publishing today. Hippocrates Publishing has committed themselves to offering valuable resources for medical advertising, cash only medical practices, medical practice management, and other relevant healthcare business matters. You can find all the information and resources that you need at http://www.hippocratespublishing.com or by calling 877-408-2462.
