The Growing Trend of Cash-Only Practices
MedScape Today examines the growing trend of cash-only practices, including concierge medicine. The article predicts that 25% of doctors will convert to a cash-only model in the next five years. This is a great read if you are considering the transition to either concierge or non-concierge direct pay models.
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Cash-Only Practices: Doctors Are Rethinking Their Objections
by Neil Chesanow Medscape Today February 10, 2012
Cash-only (also called “direct-pay”) medical practices, in which doctors shun managed care contracts and are paid in cash by patients, are gaining adherents — admittedly slowly, but surely. And while there have been philosophical and logistic criticisms of the model, some of those are steadily breaking down.
One reason is that low insurance reimbursements, particularly from Medicare, are making it harder to meet practice overhead expenses. Another is that increasingly more doctors, particularly primary care physicians, seek greater control over their patient visits and patient relations.
“How do you create a practice model where your patients are your payers, where you get doctor and patient back into a real relationship, and where patients can trust in the way doctors work and how they do business?” asks Alan Dappen, MD, who has a cash-only solo practice in Vienna, Virginia.
