1. Do not let insurance companies “own” your practice. The Virginia Spine Institute physicians do not have contracts with any insurance companies, says Thomas Schuler, MD, a spine surgeon, founder of the Virginia Spine Institute. They elected to do so as this allows us to present the patient with the best and most appropriate treatment options. The patient can then select what is in their best interest. By not being encumbered by a contractual agreement with the insurance company, we can provide the patient with what they need and not be limited to what the insurance company dictates.
The Virginia Spine Institute bills the insurance companies for the patients and is compensated as an out of network provider. The exception is Medicare and TRICARE for which the institute is still an in network provider. Dr. Schuler states that, “Virginia Spine Institute remains in these two networks specifically to assist the elderly and military.” The Virginia Spine Institute hires patient coordinators and insurance liaisons to help patients navigate out-of-network care. Insurance companies can make it difficult for patients to receive out-of-network care and the experts guide the patient through the steps he or she needs to take. “We work to create a system that helps the patients understand and be more successful in navigating the very confusing out-of-network experience,” says Dr. Schuler.
2. Offer ancillary services onsite. Consider adding physical therapy or imaging services to the practice because those services are convenient for the patients and require very little of a surgeon’s time, says Michael Franks of Physician Business Services in Tampa, Fla.. The onsite physical therapist can oversee a large portion of the non-surgical or rehabilitative care so the physician can focus on patient visits or surgeries. Offering physical therapy and imaging services onsite is also convenient for the patient and has the potential to bring extra revenue into the practice. However, before adding these services, practice administrators should assess whether the additions are practical.
“Look at how much the new technology will cost, whether it can be leased and over what period of time and whether there is a place for it,” says Mr. Franks. “If you will lose an exam room to house the additional technology, you take away from the value of the product. You also need to consider who will staff that machine and who will schedule patients to use it. If you’re doing things correctly and building a business model, you’ll have been doing that before the decision is made.”
3. Be creative in marketing yourself. When Bruce McCormack, MD, a neurosurgeon and spine specialist who practices in San Francisco, first arrived in his community, he realized he needed to market himself in different ways to attract physicians who would refer patients to him. “I began sending out flyers and giving continuing medical education talks at hospitals around the Bay Area — I’ve been to every hospital in Northern California,” he says. “Sometimes nothing comes of them, but if you get just one referring doctor out of the audience, that’s great. I actively marketed my practice outside of the city, but as time went by I received more referrals from within the city.”
He says the first three or four years after he left the university there weren’t many referrals. But as his name recognition and reputation have grown, those efforts produced referral streams. “That was key to building a successful practice,” he says.
4. Increase word-of-mouth referrals by connecting with current patients. If patients are happy with their experience at your practice, they will refer their friends. One of the best ways to connect with patients is by taking time to answer their questions and explain conditions in a way they can understand. Paul Slosar, MD, an orthopedic spine surgeon with SpineCare Medical Group in San Francisco, uses metaphors and analogies during his explanations. He strives to discuss spinal conditions in relatable terminology, often employing mechanical terms. “You have to try to use concepts that the patient can visualize. I keep going over it with my patients until they get a visual that makes sense. I use really straightforward and simple language and I keep asking them, ‘Does this make sense to you?'” says Dr. Slosar. He recommends surgeons take time with these explanations because they can look at it two ways: either take the time to conduct a complete and informative conversation with a patient or face time speaking to a lawyer later on.
