JANUARY 8, 2016 – For the past two years, the Pri-Med InLight EHR product team has attended and hosted Membership Medicine events nationwide to learn everything there is to know about this new practice model. Picking the brains of consultants, industry experts, and clinicians in various stages of switching to the practice model at these events can be invaluable, and we’ve summed up what we’ve learned here.
Below are seven must-read lessons we’ve picked up in 2015 from attending and hosting these Membership Medicine events:
- Do your research, research, research.
Whether you’re in the process of switching to Membership Medicine or you’ve recently made the switch, stay up to date on the latest and greatest information. Clinicians who have participated in our events recommended resources like: Concierge Medicine Radio, which features dozens of 20 to 30-minute interviews with physicians who have successfully made the transition; The Direct Primary Care Journal; and Concierge Medicine Today.
- Your practice won’t make it unless you market it.
According to Kelly Pendleton, chiropractor and healthcare marketing consultant, you should “…start marketing your practice yesterday.” Click here to check out a series of blog posts she’s written on ways you can marketing your practice, including topics like defining your ideal patient, building your marketing calendar, etc.
- Create a plan for recruiting patients.
This plan can include talking to local employers, setting up town hall meetings, engaging a consultant, etc.. Read more about recruiting a patient panel.
- Create a financial plan.
Making the transition to a DPC practice can be financially challenging, so you must have financial plans in place before you start. The most basic financial model starts with how many patients you plan to recruit, how much you will charge them per month, what services you will provide for that retainer fee, etc. On the other side of the equation are all of your expenses, including what you hope to pay yourself. Read more about creating a financial plan.
- Technology isn’t a problem – crappy technology is.
Dr. Cory Annis said it best during our one of our Membership Medicine panels. She explained, “I don’t hate technology – I hate crappy technology.” Dr. Annis went on to say that technology that doesn’t enhance her relationships with patients gets thrown on the trash heap — take advantage of your transition period and do the same with solutions that aren’t user-friendly.
- Consultants can be worth the money.
Some people balk at the cost of the consultant, but from a business perspective, the investment can be well worth it. Growing a start up in the red to a company in the black is most important, and consultants can certainly help accelerate that process. However, before choosing a consultant, it’s important to make sure they know the space well. Do research on reputable sites, ask around, and get references before moving forward with one.
- Find the right EHR for your practice.
One must-have feature in an EHR is a Membership Management tool. This can help you manage patient enrollment in plans, payments, and overall practice revenue. Tools like this also allow you to run reports that show outstanding balances that individuals, families, or employers might owe. Check out our EHR Checklist for Your Membership Medicine Practice to learn more.
Pri-Med InLight EHR is free to try and has special features for membership management practices to help you manage practice revenue, increase your subscription base, easily communicate with subscribers, and more. Click here to schedule your demo and see how.
