Since the first post in this series last fall, I’ve contracted with five different clinicians from across the country to mentor them through the processes of setting up their own low-overhead, high-revenue home-visit only practice.
I figured the idea would be attractive.
What’s not to like? Taking home over a half-million dollars a year on a panel of 500-700 patients—working out of your home with minimal overhead, contract-only employees and the insurance company doing the heavy lifting of marketing.
But I had no idea of the amazing, incredible response.
There are full-time docs wanting more of the value they generate, a resident physician looking to get started out of the gate and a mom looking to build a practice part-time that she can grow as her family does.
Here’s what this diverse group of physicians has learned:
Insurers across the country are indeed anxious to get solo PCPs on board (though the holidays have gotten in the way).
The costs (insurance, recordkeeping, connectivity) are even less than I thought.
It takes much less effort than I anticipated.
The excitement of the clinicians at breaking free into a world of clinical freedom is infectious.
I never, ever expected such a response. Five new books of business for a couple of posts is crazy. Given your feedback, I’m looking at a torrent of further docs the New Year holds. Based on my correspondence, I seem to have struck a chord.
I’ve decided to hold off turning the key on my own practice for now so I can help all these brave, innovative docs succeed. I’ll use all our experiences to keep you informed.
So far, it’s been exciting and fun.
If you or someone you care about is one of the clinical walking dead, practicing joylessly on the treadmill of industrial medicine—forward this series to them. You may give them ideas.
I charge a flat fee for each active patient on their panel, so they don’t even start paying me until they get up and running—and even then it comes out of their capitation, so I only succeed when they succeed.
Similarly, if your organization is looking to expand their home-visit only Medicare Advantage practice, contact me. I’m the only one in the country that’s been doing this and I’d love to use my knowledge as the foundation of your and your patient’s success.