Meshing Your Cash Pay Practice with Hospitals and Laboratories

Because cash pay is a new and up and coming niche medical practice, it is only a given that you will be required to research the process of working with local hospitals and laboratories. Because you will no longer be billing insurance companies for your services, you may have to look further into the process of working with the hospitals and laboratories. This leads to pondering whether or not your cash pay medical practice would offer laboratory tests as part of the practice; or whether or not you will see patients in the hospital.

Setting up your cash pay practice will take both time and creativity as you sort out all of the details. Find out directly from the hospital/laboratories on what their specifications will be in terms of billing for diagnostic tests and other procedures.

For further assistance, consult with the professionals at Hippocrates Publishing and the many manuals, healthcare marketing tools, and medical advertising materials available. Marketing for doctors interested in niche medical practices has never been easier…or more enjoyable!

Different Cash Pay Medical Practice Models

If you are keen on starting your own cash pay medical practice and are interested in all of the different healthcare marketing strategies available today, let Hippocrates Publishing and HouseCall Doctors be your guides. Hippocrates Publishing is your ultimate resource for healthcare marketing tools, in the form of comprehensive manuals that include “Learn How to Start a Cash Only Medical Practice,” “A Physician’s Complete Guide to a Successful Medical House Call Practice,” manuals on doctor advertising and doctor marketing, practice marketing, and many more.

Let’s get back to starting your own cash pay medical practice. We’ve already discussed the importance of researching the market. The next step would be to study the various cash pay models. There is substantial variation between cash only medical practices. Some physicians are strictly cash pay, while others accept particular insurance plans or offer a concierge service to a panel of patients. You will need to decide which model fits your income goals and patient needs. For more information on this, get your own copy of Hippocrates Publishing’s highly acclaimed “Learn How to Start a Cash Only Medical Practice” today!

Research the Market

Physicians need to know that the process for starting their own cash only medical practices, also known as cash pay medical practices, is easy to do when you have the right people and knowledge on hand. The first step requires researching and understanding your local market.

The key to owning a successful cash pay medical practice is to strategically positioning it where it will thrive. For instance, you do not want to open up this type of practice in an area in which a considerable amount of the population is employed by a local firm that provides excellent healthcare plans. Do you really think they are bound to opt out of their health insurance plans to pay cash instead? Unlikely. Nor do you want to open up one in a lower income community where the majority of residents rely on Medicare or Medicaid. Why would they pay cash when they receive assistance from their state? Instead, the market you want to open up to will consist largely of hardworking, middle class citizens who may have good jobs but cannot afford the high costs of health insurance premiums. This community will consist of large numbers of patients who are uninsured, as well as affluent patients with or without insurance, who would be likely to want to pay in cash for medical services. Research the types of healthcare plans offered in the area. Is the patient spending more money for their insurance premium than they would with paying cash for routine healthcare services?

When researching the market, ask yourself these golden questions:

“Can this local market support this type of medical practice?”
“Are there other cash only medical practices in the area?”
“Would existing patients be willing to transition to a cash only medical practice?”
“What services would you offer?”
“How much would you charge?”
“How much overhead will be required to thrive?”

These are just some questions with which to start when you commence your research on starting your own cash only medical practice. Contact Hippocrates Publishing today for additional support and optimal healthcare marketing tools and healthcare marketing strategies. Hippocrates Publishing specializes in physician marketing, physician advertising, and all forms of healthcare marketing that will support physicians in their quest to start their own cash only medical practice or house call practice.

Ultimate Resource for Medical Practice Marketing

Upon the launch of Hippocrates Publishing’s brand new website comes the addition of our new blog. In the blog, we will feature Hippocrates Publishing’s latest and greatest books, manuals, and other resources pertaining to physicians and other medical professionals looking for ways to make their existing medical practices more successful. In addition, our books and manuals target those who may be looking for ways to start their own cash only or medical house call practice.

In a rapidly advancing world, the business of medicine has become fiercely competitive. In this day and age, many physicians are faced with a challenge that extends beyond their medicinal knowledge and bedside manner. In order for their businesses to thrive, physicians must possess good business skills, which include medical practice marketing experience. Medical practice marketing is a subject that is rarely, if ever, taught in the majority of medical schools today.

With this being said, Hippocrates Publishing will continue to serve those in the medical field with the knowledge and expertise necessary to helping medical practices, of all types, thrive.