How to Stay Relevant in Today’s Medical Marketplace
Breaking Free From Insurance Based Medicine
Rapid change is pervasive in many industries today, and healthcare is no exception. With more and more clinicians working FOR a medical establishment, there are fewer and fewer providers who can offer “old-school” patient care. Health insurance constraints, declining reimbursements and the 7-minute office visit make it nearly impossible to offer a proper diagnosis or even consider alternative therapies as treatment options, let alone genuine patient concern and support. The good news is there will always be a need to for healthcare. However, it is vital for healthcare professionals to remain relevant as technology and medical advances improve, and the needs of the patient population shift.
Many new advanced therapies fall into the regenerative space, which can offer life-changing options for your patients and as well as immediate cash flow into your practice.
And with cash-based treatment options, you don’t have to prove a medical necessity, concern yourself with correct CPT codes, or wait to get reimbursed by insurance providers.
You see, the field of regenerative medicine continues to explode with substantial credibility, as well as substantial profit. Researchers from Transparency Market Research expect the opportunity in the worldwide market for PRP to increase from US$160.0 Mn in 2015 to US$451.9 Mn by 2024, expanding at a Compounded Annual Growth Rate (CAGR) of 12.50% between 2016 and 2024.
What’s more, consumers are driving the demand by seeking out these treatments and willing to pay cash in order to relieve pain, increase overall wellness and in many cases reverse disease states. More and more people are adopting a healthier, preventative lifestyle and seeking natural ways of healing. Not only does the aging population want to look and feel younger, the young want to stay vibrant, active and heal their body’s naturally. The question really becomes, why aren’t you including these treatment options when they are clinically safe, effective, offer little to no side effects and are highly sought out by your patients?
Whether you’re looking to change your practice focus, enter the healthcare workforce, or regenerate your current practice’s bottom line, these tips will help you stay relevant and profitable.
KNOW YOUR WAY AROUND TECHNOLOGY
Today’s healthcare professionals need to be tech-savvy. Practically everything runs on computer systems — and the more technologically proficient you are, the more job opportunities you’ll have in the healthcare industry. Knowing how to use mobile technology can also help you stay relevant. More health professionals are working with smartphones and tablets in clinical situations, running a variety of apps that help them stay organized and efficient. Mobile devices are now commonly used at the point of care for communication, information and records access, resource access, and more.
GROW YOUR HEALTHCARE NETWORK
Just as with any other career, networking is a great way to stay current in healthcare. The more people you know in your field, the better your chances of expanding your own practice brand and even patient referrals. For example, there are many OBGYN and urology practitioners who see patients with sexual dysfunction and hormone imbalance issues that don’t offer regenerative therapies like PRP or shockwave therapy as treatment options. These providers would greatly appreciate having a respected colleague in their “trusted network” to refer their patients to. Another effective way to keep up with the industry is to join a relevant association or network of like-minded practitioners. Specialty Med Training is a national network whose members include nearly every board specialty including regenerative, sexual, functional, hair regrowth and aesthetic medicine.
KEEP YOUR SKILLS SHARP AND YOUR MIND OPEN
Ongoing education is a large part of any healthcare professional’s career, especially in regard to the rapidly growing field of regenerative medicine. Taking additional classes, learning new skills or disciplines can help you enhance your practice offering and help your patients achieve amazing results. Making the shift to include cash-based, regenerative therapies is easier than you think. Reputable certified training courses conducted by board certified physicians offer online learning programs and peer-to-peer hands-on training. This learning style drastically reduces the learning time and the financial investment is incredibly affordable.
So, ask yourself these few questions:
How can my current services adapt to remain relevant in today’s regenerative marketplace?
Do I have the right products and services to make the shift?
If the answer is no, it may be time to explore your options and pursue the passion of what led you to a career in medicine in the first place.
Specialty Med Training is a great place to start! To learn more about how we can help, contact them today at 561-408-7248 or firstname.lastname@example.org
AUTHOR: JILL SWARTZ, FOUNDER & PRESIDENT
Bringing nearly two decades of business consulting experience to the cash-based, concierge medicine arena, Jill and her dynamic team of expert insiders know exactly what it takes to navigate this exciting and profitable field of medical enterprise.
Her company is leading the industry helping practitioners expand their knowledge, skills and treatment options for their patients. Under her direction, and always with an unyielding focus on improving patient lives and advancing the field of medicine, Specialty MED Training has quickly become the most recognized and respected name in physician led, hands-on and online medical training and business consulting.