Thanks for replying. For what reason particularly? Assuming this is not a pill mill scheme.
Do you then typically weed out medicare/medicaid patients or keep them to a minimum?
The problem is your practice will live or die based on referrals and new patients. Unless you have a captive referral base, it will consume you.
This is not necessarily true. It depends where you are. There are locations where tons of doctors are cash-only, generally catering to those who can afford it. It can be very competitive.
Why is that a racket?? It's probably a great business model . I also know of a practice in NYC that is like this.
#1 is what I was talking about
Ok , I'm saying it can not work for a traditional pain practice
Ok, cash only is not going to work for a traditional pain practice doing spinal injections rfa scs etc
It's definitely the exception rather than the rule.
I imagine it's likely the same practice if most of the pts are celebrities. Why is it a racket? Well, paying several thousand dollars for something you can pay a couple of hundred dollars for I think qualifies it. I do agree with you though, from a business perspective it is a great model.
To me calling it a "racket" implies that it's illegitimate business in some way. What is a racket about offering people a service that they're willing to pay cash for? How is that "milking" celebrities?!?
Charging someone significantly more for the exact same thing or service they can get elsewhere is ripping people off. But if those with the means know what they're being charged and agree to it, by all means, charge them for it. I have no issue with this. People have the right to get ripped off.
1. No, it is not ripping people off. Do you think that the average wealthy person paying cash for procedures at HSS is some rube who doesn’t know that they could be having the same procedure done somewhere under their health insurance?!?
I remember in residency a wealthy patient ask our attending about a spinal cord stim. Wanted to pay cash for the implant because he didn’t want to deal with waiting for prior auth. He was the kind of patient who never had to wait in the ER. Goes straight to an empty wing
there are very few areas in the country where there is a significant enough wealthy population to afford a cash only for procedures. you are catering to the 0.5% who can afford the cost. for your average American, a single office based epidural is 1% of their yearly salary...
Not true at all. If you had been exposed to practices like this, you'd understand better. I'm guessing you haven't.
I have. From working with medical boards and the DEA. Have fun with that if you go that route.
Clearly you aren't familiar with the kind of practice I am talking about. Just because you have worked with medical boards/DEA for doesn't mean you are. Again, just because you haven't been exposed to it doesn't mean it doesn't exist.
I guess you bring up a valid point. I still see it as a rip off and a waste of money bit if wealthier folks wish to pay more they should have at it. My business models are the complete opposite as I like to operate like Walmart.
Why would you be on the radar for cash pay procedures?
Because you have a pain medicine certificate, a DEA license and are considered "pain management" by everyone except your friends and family
I am not saying that it is a better quality injection or doctor or whatever. I am saying that the patient believes that it is. Marketing and hand-holding play a very large role in these kinds of practices.
There is no discrimination involved at all. Why would you use such an inflammatory word?!?
So every doctor should accept all patients regardless of their ability/inability to pay, their insurance plan, etc?? Otherwise they are practicing discrimination??
Agree 100%.
