2015 is here. That means more government influence into health care is on its way. Are you planning on transitioning away from your practice dependence on insurance re-reimbursement? Because if you are not, expect a pay cut, expect more oversight, audits, paperwork, red tape, frustration, and a higher overhead cost.
The Tough Questions
If you plan on staying in the insurance model, ask yourself these questions:
- How will you overcome the increased overhead costs?
- What will you do to add extra income to your practice?
- How many more patients a day can you really see without losing your mind?
- How much more risk do you expose yourself to when your volume of patients has to increase to make ends meet?
- How many more man hours and extra classes will be required to accommodate the new health care law? Will this require a new employee?
Transitioning to Functional Medicine
The biggest challenge in making a switch to functional medicine comes from a doctor’s lack of knowledge and fear of change. Starting a functional medicine practice can be overwhelming if you’re not prepared and organized. You’ve got a lot to consider.
- How many employees do you need?
- How much square footage do you need?
- What kind of corporation should you have?
- What’s the best FM niche to focus on?
- Where is the best place to get a clinical functional medicine education?
- What types of marketing systems should you have in place?
- Where should you focus your advertising dollars?
- What lab tests, supplements, etc should you use?
- What patient intake forms work best?
- How much should you charge?
These are just a few of the things to consider. You also have to think about employees, insurance, location, and price structure. However with some research, organization, and preparation starting a functional medicine practice can be much easier than you think.
Many doctors are guilty of trying to “re-invent the wheel“. They waste years of time, effort, money trying to figure out how to run a functional medicine business.
Big mistake…
We all go to school to become a doctor. We pay to have teachers, mentors, etc guide us through. Yet when it comes to business, we often times go it alone. Having a practice doesn’t guarantee success. You have to have a marketing strategy, as well as systems in place to ensure success. One of the reasons I put together the FM Success Summit is to help coach doctors through this process. Bottom line, if you are successful, patients will get the vital help they need. It’s a win, win situation.
Check out the short video below and see what many doctors are calling – the best FM business summit ever…
Committed to your success,
Dr. O
P.S.
The Functional Medicine Success Summit registration is open. Join me and other world leading experts as we teach the business of functional medicine.
