Due to the deductions in CPT, rising costs of technology and mandates, doctors are taking multiple steps in attempting to maintain
Expansion of service and practice
See more patients
Truth be known its a wonderful profession but not always a good business and the above ideas all require your expansion remain inside of the 'same' problem of government control and CPT code deduction. Do you ever think Insurance and Government will quit putting the squeeze on you? No? The real model for additional medical income should generate income the CPT based model. Thats why RESIDUAL models are so valuable to you.
Why Residual Models? Because more income needs to be
easier to earn
Residual Models permanently increases income & offsets losses due to inexperience, slow business, CPT code deductions, government intervention.
They can increase your income by another $10,000 to $60,000 monthly.
Why is your income decreasing or not growing as expected?
The number one item is inexperience, in coping with current business environment. Your reasons may be competition, pricing and many other, but residual models of income can resolve them all.
Maybe you require more cash for marketing, more clients/patients, more time, more effort? It all boils down to the same solution. Income need to be simpler to earn.
How are you resolving?
In the medical industry the majority of income problems are uncontroleables imposed by CPT Code deduction and government intervention. Its a system of profit and loss based upon payout/value as defined by federal government and insurance firms.
Ten years ago a single practice physicians could earn between $800,000 and $1,200,000 in annual net profit. Today the same physician at the exact location is lucky to earn $250,000 a year. For many, this is in spite of a large increase in patients and services.
How are doctors attempting to resolve?
What does industry
research tell you?
The majority of doctors know that health reform
increase their patient loads while decreasing the financial
viability of their practice.
Doctors are leaving private practice in increasing numbers with just one third are expected to continue working as independednt practitioners by the end of 2017. Study from Accenture
Key findings on survey conducted on the behalf of Physicians Foundation by Merritt Hawkins completed September, 2012 in survey with over 630,000 physicians:
How can you resolve all these concerns?
Once you remove CPT deductions and Government intervention from the equation your income will blossom.