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Potential Medical Fitness Disaster #3: Basing your financial success on insurance reimbursement

A medical fitness program addresses prevention, health-risk reduction, and an improved lifestyle. It is a wellness — not sickness — program. Trying to get it covered underneath your patients’ insurance is a hassle — not to mention bad business for you!

That’s why I highly recommend that you pursue a cash-based revenue stream and not try to find clever ways to bill your patient’s insurance plans. Not only do you open yourself up to medical necessity justification issues, you create even more dependency on third party payers with built in limitations and caps on fees and covered services. 

Yes, you may have heard that some of your peers work the system and provide insurance-based exercise programs. Yes, they’re probably making some money, too. But remember: they’re also creating more dependency on insurance reimbursement, and maybe even a few nightmares for their practices.

Potential Medical Fitness Disaster #2: Operating your medical fitness program like a “little gym”

If your patients can get all the bells and whistles they want at local gyms and health clubs, why should they choose your medical fitness program, which offers less in the way of equipment and amenities?

The answer is simple: professional medical advice and oversight.

So please don’t just stick a few pieces of exercise equipment in an empty room, hire a trainer and try to bill insurance to get people to come.

If you do that, I guarantee you won’t achieve the financial success you desire, and the patients you do attract will come to you for one of the following reasons:

      1.   Your gym is quiet, small and private. Translation: nobody goes there.

      2.   It’s cheaper than the gym down the street. Translation: you aren’t making much money off of it, because it doesn’t offer any real benefit.

Potential Medical Fitness Disaster #1: Buying a fitness franchise instead of starting your own program with a proven “template”

There are a number of reasons why healthcare professionals opt to purchase a fitness franchise when they want to start a medical fitness program. But, after close examination, those reasons just don’t hold water.

Here are four reasons:

1.  No Flexibility

Most franchise contracts have very explicit standards that don’t allow you to make alterations or additions to their system and brand. This prohibits you from customizing the program to best fit your practice and your patients. Do you really want to be told how to run your practice and care for your patients?

2.  Minimal Marketing and Business Support 

Yes, franchises claim to offer marketing and business support. But, in my personal experience, this isn’t what it seems to be. Franchisors are too busy, stretched in too many directions or simply too incompetent to run your program for you. The responsibility for success is squarely on you whether you buy a franchise or start your own program.

How to Break Free from Insurance Companies

If you’ve been a healthcare provider for any length of time, you know it doesn’t take long to become disenchanted with the way your compensation is handled by insurance companies. With all the frustration and battling that goes into getting your fair share for the services provide to your patients, it is sometimes easy to lose sight of the reasons you got into healthcare to begin with.

To put it simply: You feel like you are working harder and getting less out of it — and that is a serious disincentive to try harder.

Well, there is a way to take control of your revenue — a way that has nothing to do with insurance companies, insurance codes or anything like that.

Chiropractic Practice Consultants Coach Healthcare Professionals How to Integrate Fitness

chiropractic consultantPresident and Founding Partner of the Medical Fitness Academy (http://www.medicalfitnessacademy.com), Rich Farina, coaches chiropractors on how to integrate fitness successfully into their practices. The chiropractic consultant has spent 20 years advising medical professionals on fitness and has recently developed the Medical Fitness Academy with Rita Bryan, who serves as the company’s Vice President. The Medical Fitness Academy offers chiropractors and others a platform on which they can build their medical fitness program.

Chiropractic Practice Consultant Rich Farina, President and Founding Partner of The Medical Fitness Academy (http://www.medicalfitnessacademy.com), is focused on coaching healthcare professionals in the area of medical fitness. His mission is to ensure that those chiropractors and other professionals who want to fully utilize the power of medical fitness in their practice are able to do so.

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