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Been sued lately? Probably not, if you’re working in the alternative health industry. There’s hasn’t been much in-depth study of litigation rates in the CAM industry, but by all counts, it’s lower than in allopathic medicine. As the alternative medicine industry grows, however, the number of lawsuits is likely to grow with it, as will […]
Interesting editorial in the Integrative Medicine Journal (found through The Integrator Blog, thank-you John) on the conflict of interest in selling supplements in your practice. This is one of those conversations where I feel the need to switch hats fairly frequently. Be forewarned. In the context of the advancement of the industry, I don’t think […]
The allopathic community has a set precedent for reaching a “practice capacity”. Many MD’s will reach a designated number of patient files, and then no longer accept new patients, particularly in regions where health care is publicly funded. Since most CAM practices run on a private sector business model, my suggestion is that you never […]
I’ve been wishing lately, “Gee, I wish someone would comb through all the news, resources, journals, newsletters, conferences and policy changes and put it in one place so I don’t have to.” Enter The Integrator Blog. Just about everything you ever wanted to know about news and policy related to integrated health care. There’s an […]
According to this report by the Commonwealth Fund, out-of-pocket medical expenses are on the rise. Regardless of where you stand on public versus private health care, rising out-of-pocket expenses are a business blessing for many CAM practitioners, who are more likely to operate outside the realm of insurance and subsidized health care. Given a choice […]
Read Part 1 Here The litmus test for determining whether you have a practice or a business is to ask yourself, “Does my practice make money when I’m not there.” If you only generate revenue when you’re working and generating billable time, then you’ve got a practice. Until you have a system that generates revenue […]
The early life cycle of a CAM practice is usually dedicated to generating a client base, and figuring out how to manage the process of getting them to your office, helping them, and accepting their money. Not a bad model, and one that’s been in use almost as long as commerce has. After a few […]
I like to think of every new patient as a referral, even the ones that come in from direct advertising – I find it’s an easier way to build a new-patient strategy. Here’s a way to break down your referrals into 5 categories. You can break each down into sub-categories as required, and track each […]
“I have some clients who miss appointments without calling. It’s very frustrating. Should I be charging them a fee?” This one has no clear answer. Ask around, and you’ll get different opinions. Compared with more mainstream medicine, my guess is CAM professionals are less likely to charge for no shows, simply because lack of insurance […]
No-shows tend to get more attention in alternative medicine practices, likely because of the irritation factor. When you look at it from a business perspective, though, cancellations and reschedules can be just as detrimental. The only difference is that you get more advance notice, so you may have time to fill the slot. Many of […]
A nice little PDF from Elizabeth Woodcock here on reducing no-show appointments. It’s written for MD’s, but equally applicable to any alternative medical business. A few other resources worth checking out there, too.
As the demand for complementary and alternative medicine grows, there’s a corresponding increase in practitioners offering CAM services. Or maybe it’s the other way around…at any rate, if you’ve enjoyed the freedom of limited competition in your geographic fiefdom, there’s a good chance it won’t last. Fear not. A little competition can be great for […]
Picking up from yesterday… Regardless of where you fall on the alternative health opinion spectrum, these folks can be an amazing source of referrals. By presenting yourself as a complement or support to your local physicians, you may find them far more likely to refer to you. To do this successfully requires three critical characteristics […]
As a follow up to yesterday’s Putting the “Alternative” in Alternative Medicine, I thought it would be interesting to look at the term complementary from a business strategy perspective. There are some deeply entrenched camps on this issue. There are many who view the term complementary as subservient to the allopathic medical community. It’s the […]
The phrase alternative health care is often interpreted in the context of the modality used by the CAM practitioner. For example, instead of pharmaceuticals, a patient might choose the alternative of supplementation. While that’s technically true, there’s great value in expanding your concept of alternative to include the way you offer your services, and present […]
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