Physicians readily admit that they are not the most savvy business people.
Insurance has anesthetized society from the realities of health care costs.
Having insurance does not mean one has access to health care. Those with high deductibles and co-pays are avoiding routine office visits. Physicians who charge reasonable fees are attracting new patients.
Why did you become a physician?
Most health care providers entered the medical field because it was a respectable profession. Seasoned physicians are now looking for alternative professions. Professional satisfaction has been tarnished by mounting administrative pressures, a sense of entitlement by some patients, and unpredictable reimbursements.
What are your priorities in life? More time…peace of mind? Consider migrating towards are more reasonable lifestyle.
Are you satisfied with how you practice medicine?
Since passage of the Affordable Care Act (ACA), patients are shifting how they access health care. Higher deductibles and co-pays are preventing many from access healthcare. Patients are now savvier about the cost of an office visit. Physicians who accept payment at time of service at much more satisfied with their practice.
Increasing your bottom line is as easy as accepting patients who pay at the time of service. You do not have to stop your relationship with insurance companies.
Migrate toward a blend of both insurance and payment at time of service patients. You will be able to do the following…
> Support patients who want to pay at time of service
> Attract and retain good employees — see suggestions here
> Decrease your administrative overhead (fewer billing support staff)
> Reach out to our community
> Work with – instead of fighting against the insurance companies
> Help the uninsured in your community — charge reasonable prices
> Have more discretionary time
Interested in communicating
with other physicians?
The Association of American Physicians and Surgeons – AAPS – is a non-partisan professional association of physicians in all types of practices and specialties across the country. Since 1943, AAPS has been dedicated to the highest ethical standards of the Oath of Hippocrates and to preserving the sanctity of the patient-physician relationship and the practice of private medicine. AAPS maintains a list of Cash/Direct Payment friendly practices.
Looking to change your billing practices?
First, determine what the most important thing is for you. Is it more time, more money, or few hassles? Read the blog for practical ways of changing the way you practice medicine while increasing your quality of life.