Direct Primary Care Practice Transformation: Lessons in Hindsight and Foresight
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This document discusses a physician's practice transitioning from a traditional fee-for-service model to a direct primary care model. It provides details on the practice's patient numbers, staffing levels, sources of income, and goals at different stages of the transition. The physician reflects on underestimating how many existing patients would convert initially, experiencing diminished cash flow as a result, and the importance of partnering early with benefits experts. Advice is given to assume only 7-10% of an existing practice will initially make the change, plan for cash flow needs for 6-12 months, prioritize education over marketing, and implement good technology and communication tools with limited staff.
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Direct Primary Care Practice Transformation: Lessons in Hindsight and Foresight
- 4. What was…
- 5. • Fee For Service • 25 years of practice • 4000 patients at time of conversion March 2014 • Staff of 11 • Own building • Source of Income • FFS • Clinical Trials • Laser Treatments
- 7. • Direct Primary Care • Started with 325 Patients • Staff of 6 • Source of Income • Memberships • Residual FFS • Laser Treatments • Clinical Trials • Line of Credit
- 8. Where We Are Now…
- 9. • Direct Primary Care • Now 625 members • Staff of 3 • Business Relationships • Source of Income • Memberships • Urgent Care • Cliincal Trials
- 10. Where We Will Be…
- 11. • Direct Primary Care • 700 members per provider • Staff of 3 • Increased Business Relationships • Multiple Locations • Source of Income • Memberships • Clinical Trials
- 12. Hindsight
- 17. Partner Early with Benefits Expert
- 18. The prudence of the best heads is often defeated by tenderness of the best hearts. -Henry Fielding
- 19. Foresight
- 20. Early Adopter
- 21. Relied On Old Patients
- 25. Good Choices with Tech Tools and EMR
- 28. Assume 7-10% of Existing Practice will make change with you
- 29. Cash Flow for 6-12 months
- 31. Good EMR and Communication Tools
- 32. Limited Staff