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.
Join us at the Functional Medicine Success Summit
The Functional Medicine Success Summit is dedicated to helping doctors and other health care practitioners get connected and gain access to the top clinical and business experts in our profession.
