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Are You Leaving Money on the Operating Table: Part 2

by | Apr 7, 2020 | Doctor, Financial, Issue 114, Legal, Medical Practice Administration, Taxes | 0 comments

CCM Program’s Importance to Doctors

Most physicians don’t call their Medicare patients often enough. The lack of contact or during those times when the doctor is too busy to see them for three days, sometimes several weeks, that patient goes to the ER, knowing they’ll be seen that day. The patient may not be paying much money for that ER visit, but the system is. What could have been an office visit costing a couple of hundred dollars or less, now costs about $3,000. Contacting these patients can keep them from being admitted into the hospital as well. When taking a proactive approach, the system saves $75 per patient per month. Multiply that by 2.8 million patients, and that’s over $2 billion dollars in savings to the system every year.
Outsourcing these phone calls to RX2Live helps you, the physician, whether you want to maintain or grow your Medicare base. We assign a case manager—LPN, RN, or medical assistant— to each patient and call them on a consistent basis, presenting ourselves as an extension of your medical practice; we will never disclose our company’s name. Patients keep the same case manager so the two of them can form a bond. Many times, patients have their case manager’s cell phone numbers if they need to call them, exceeding the 20 -minute monthly minimum. The patients love it, the caregivers love it, and you’ll love it because that additional time goes into the patients’ charts and becomes billable for your practice.
We can also contact your Medicare patients to ask them to come in for an appointment, including annual wellness visits that sometimes get ignored. In fact, we can schedule the appointment and call the medical transport to pick them up if they can’t get there on their own. Not only do you have the assurance your patients are being taken care of, but these appointments and the extra time involved to arrange the logistics for them now become another stream of income that you currently don’t have. And you don’t have to pay us until you get reimbursed, which alleviates your upfront expenses.

Trying CCM on Your Own

We’ve known of doctors who’ve tried to capture all of the $42 per patient per month. However, with just about every case we’ve seen over the past five years, the already-overwhelmed staff at the practice doesn’t have a few minutes a day or even several minutes during the month to make phone calls and do it consistently. They’re still taking care of the patients coming through the door, and trying to juggle both can burn them out.
So, these practices may try the CCM program on their own for a couple of months, and then they shut it down because it becomes too expensive; they can’t make it work for just a few hundred patients.We, on the other hand, can! We have tens of thousands of patients and have the tools and resources. It scales a lot easier as a business model versus trying to do it in-house.

Additional Ancillary Income

When you call us, we’ll show you how you can drive that additional ten thousand, twenty thousand, thirty thousand dollars a month in additional income to your practice. Using a spreadsheet, we’ll calculate what your residual revenue can look like based on 40% to 50% of your Medicare patients and the basic 20-minute phone calls. With RX2Live, you keep the highest percentage of the $42 per patient per month fees when compared to other outsourced CCM program providers.

Then we’ll show you what your income can look like with all of the additional time we’ll spend coordinating patient visits, addressing additional chronic conditions, and even document-ing in their charts, all on a billing rate of a higher amount.

When you combine these numbers, you’re literally looking at somewhere between $100,000 to $250,000 per year in new revenue on a very small scale, such as 300 patients. Because you don’t have any additional expenses, that’s your profit.

CCM Improvements

The CCM program isn’t going away because it’s saving the system so much money. However, CMS realized they had to loosen up some of the rules and regulations from the earlier days when we launched. For instance, patients don’t need to come into the office and physically sign an agreement. They can now be enrolled over the phone.
Another changed rule is how we can now work with residents in elder-care facilities. Even though they’re considered face-to-face appointments, CMS (Centers for Medicare and Medicaid Services) realized those 1.7 million patients aren’t being seen by a physician as often. We step in and fill that void.
Numerous doctors in our system have expressed how grateful they are when they can’t talk to their Medicare patients who may not be really ill at the time but are constantly worried about contracting the virus. During this stressful pan-demic, these physicians love the fact that we have a whole team that can take care of their patients on a constant basis because the doctor and their staff don’t have time to reach out to them to offer assurance that someone is there for them.

The Perfect Solution to a Growing Opportunity

Baby boomers are entering retirement, so about 10,000 to 12,000 people enter the CMS system for Medicare every day, 365 days a year. CMS states that there’s still another 25 years of growth, and over the next 15 years, that growth is expected to triple. The timing for this opportunity couldn’t be better than it is now. RX2Live brings the perfect solution to any physician who has too much on their plate, allowing them to serve a very important segment of their patient base and provide value to their practice, all the while bringing more profit to their bottom line.

To learn more about how you can stop leaving money on the table, visit us at

MBA.TopDoctorMagazine.com

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