Uh, Am I Missing Something?

[deleted795531]

Just came across an old thread where someone wrote:
"I sometimes want to restart my old solo practice, complete with counselor and PT, and make it a cash-only pain practice. No opioids whatsoever. You can come in as many times as you want - and much of the time I would see them and defer to PT or counselor depending on the current problem. I'll do as many injections as you want, within medical standards. PT and counseling will see you as much as they need to. $5K/person per year. Pay the PT and counselor $50K each. Minimal office staff."
What's wrong with this model? With 300 patients, seems like you'll end up banking about 1M. Are there not enough patients who can afford this? Even if you could go anywhere in the country to set up shop? I thought the demand gets crazier every year...

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[lord_jeebus]

Patients who can afford $5K per year also can afford health insurance that will pay for injections, PT, and psychotherapy with a reasonable deductible.

 

[willabeast]

Just came across an old thread where someone wrote:
"I sometimes want to restart my old solo practice, complete with counselor and PT, and make it a cash-only pain practice. No opioids whatsoever. You can come in as many times as you want - and much of the time I would see them and defer to PT or counselor depending on the current problem. I'll do as many injections as you want, within medical standards. PT and counseling will see you as much as they need to. $5K/person per year. Pay the PT and counselor $50K each. Minimal office staff."
What's wrong with this model? With 300 patients, seems like you'll end up banking about 1M. Are there not enough patients who can afford this? Even if you could go anywhere in the country to set up shop? I thought the demand gets crazier every year...

overhead insurance advertising xray tech - did you include that also?

 

[hyperalgesia]

Insurance companies market their "all-inclusive" product better than single-specialty medical practices. Once someone buys insurance, they don't want to spend anything out of pocket.

If you had a full spectrum of healthcare services to offer, including a hospital, you could potentially market the whole system as fee-for-service. But you are competing against govt-mandated/funded adversaries who shamelessly make promises.

 

[deleted795531]

Aren't there a ton of Canadians who come over waving their checkbooks to avoid 6 month waits for the free Canadian services? How about setting up a practice that sets up flights and transportation and gets them in and out and back home the same day? You could hustle around Toronto for a few weeks trying to convince PCPs to sell you to their patients. IDK it seems like there's a huge niche there to be filled with the right business model.

I still think you could make a model that could work for US patients too, though. They come in whenever they want for no additional charge and are treated in a multidisciplinary fashion with a PT, therapist, OMM physician, and you. Just walk in the door every once in a while and get sent to who you need to get what you need, whatever that may end up being. That sounds like it's worth a few grand to me, no?

 

[drusso]

Aren't there a ton of Canadians who come over waving their checkbooks to avoid 6 month waits for the free Canadian services? How about setting up a practice that sets up flights and transportation and gets them in and out and back home the same day? You could hustle around Toronto for a few weeks trying to convince PCPs to sell you to their patients. IDK it seems like there's a huge niche there to be filled with the right business model.

Google "Mayo Clinic."

 

[clubdeac]

concierge pain practice....it's nothing new. Oh and nurses at the VA make 80-100k so I doubt your PT and counselor will settle for 50k.

 

[deleted795531]

concierge pain practice....it's nothing new. Oh and nurses at the VA make 80-100k so I doubt your PT and counselor will settle for 50k.

So who are the patients then? why won't they just use their insurance with someone else? and what's sort of salaries does that produce?