Most private practice physicians are fed up with declining reimbursement, increasing overhead, and escalating payer requirements.
To get out of the fray, many are choosing to open direct-pay medical practices, in which patients pay directly for the services provided and practices no longer contract with insurers.
Over the past few years, the number of physicians interested in direct-pay practice has steadily climbed.
Nearly 45 percent of the more than 1,300 physician respondents to Physicians Practice's 2014 Great American Physician Survey, Sponsored by Kareo, said they were considering direct-pay practice. Nearly 10 percent were already practicing in one.
In 2011, just 19 percent of respondents to the annual survey said they were considering direct pay, or already working in the model.
The full results from the 2014 Great American Physician Survey, Sponsored by Kareo, will be released in our September 2014 print journal and are now posted online.
While interest in direct pay has increased over the years, opening a direct-pay practice remains a daunting project.
To help provide some assistance — whether you are thinking about direct pay or already embarking on the direct-pay journey — Physicians Practice has assembled some of its most popular articles about working in, and transitioning to, a direct-pay practice.
Defining direct pay:
Hybrid Concierge vs. Direct Pay: Considerations for Physicians. This article describes the differences between the two models, and some of the pros and cons of each.
Key Differences between Direct-pay Practices and Concierge Practices. Not sure what type of model will be best for you? This article outlines some of the key differences and similarities.
Funding a Direct-pay Medical Practice. Fifteen months after opening direct-pay practice, a physician reflects on the costs and benefits.
What to Charge at a Direct-pay Practice. So you've decided to open a direct-pay practice, now what are you going to charge? This article describes some of the key cost-related considerations.
Opening the practice:
Transitioning to a Direct-pay Medical Practice. This article profiles one physician who opened a direct-pay practice. He discusses why he made the change, how he went about it, and provides a few examples of what he charges for services.
My Transition to a Direct-pay Practice. One physician shares why he transitioned to direct pay, and some of the early results.
Adopting a Direct-pay Practice. A physician shares lessons learned one year after opening his direct-pay practice.
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