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I've had several negative experiences with the insurance reimbursement system and am thinking of going with an all-cash concierge-style practice. Should I?
Q: I've had several negative experiences with the insurance reimbursement system and am thinking of going with an all-cash concierge-style practice. Should I?
First, define your type of concierge practice. The simplest type is to switch to go out-of-network and payment-at-time-of-service (PATOS), in which the patient pays you, and you give the patient a claim form to submit to his own insurance company (with some notable exceptions, including Medicare). More complicated is changing to a "retainer" practice, in which the patient pays a monthly fee, which may or may not also require PATOS, may or may not accept and process insurance reimbursement, and may or may not include all your clinical services rendered.
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Wondering whether a "retainer" practice will work for you? Find out more at http://memag.com/retainer/
Medical Economics Consultant Keith Borglum, CHBC (left), of Professional Management and Marketing, has been a licensed practice broker, appraiser, author, and management consultant to physicians for more than 25 years. He is based in Santa Rosa, California, and practices nationally. Send your practice management questions to firstname.lastname@example.org