Here are the Benefits of Working with Employers
The main hallmark of direct primary care (DPC) is working directly with the patients, avoiding the influence of insurance companies or third-party payers. However, there is still value in working with the employers. DPC agreements have many benefits for employers including convenience, comprehensive, high-quality primary care, as well as overall cost savings on their insurance claims. There are many advantages to the DPC practice as well. Read more to see the benefits to a DPC office of working with employers:
Cash Flow at Startup
When you leave an employed position or open a direct primary care practice, there is a huge need for capital to help fund the opening of the office itself. There are also additional costs that come as you will need to buy equipment, furniture, computers, and other office supplies. Having employer agreements at the launch of your business can mean an influx of patients on day one to help alleviate some of those startup costs. While it’s not a full replacement for your salary, it can help with cash flow as your business starts.
Increased Name Recognition
As you begin to interact with patients, it increases your name recognition and helps with word-of-mouth referrals. Through marketing, we have found that word-of-mouth has been the most effective and cheapest way to advertise. If you have a patient in your practice from an employer arrangement and they have a good experience with you, they are going to share their story with their friends and family. This should increase the signups within your office and ultimately accelerate your growth.
Fund Equipment or Services
Finally when starting a practice, you may find it challenging to afford all of the equipment in your office since you could be waiting on a certain patient threshold or standing by for more growth to be able to make those larger transactions. Having an employer enlist with your practice may lead to additional sign ups from other employers, allowing you to fund larger equipment. This may also permit you to add on specific services, such as dispensing medications within the office, which is challenging to do otherwise if you only have a small patient panel.
Freedom Healthworks has experience working with larger employers and insurance products, and we can help you work with other DPC practices to bring in employers and employees into your office so that you continue to grow! For more information, visit our website!
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