fbpx

Private Practice Solution: Dare to Challenge the Status Quo

Grace Torres-Hodges, DPM, MBA asks us to embrace Independence and thrive in your third party free private practice.

June 29, 2023

In 2013, I was introduced to the concept of direct care and the idea of practicing medicine without the interference of third-party payors. At the time, I saw it as an escape from physician burnout and a solution for ensuring the longevity of my private practice.

In the early 2010s, while direct primary care (DPC) was gaining traction in the primary care arena, specialists like myself faced unique challenges. The membership model of DPC didn’t quite fit the episodic nature of our procedural-based practices. There was no protocol, template or guide on how to do it, but I was determined to figure out a way.

I can’t even begin to tell you how many physicians told me “you’re crazy”, “that can’t work”, “you’ll go out of business”, and “patients won’t go for that.” I owe a debt of gratitude to my early mentors— Dr. Ellen McKnight, Dr. Kathleen Brown, Dr. Gerard Gianoli, Dr. Kris Held, and Dr. Keith Smith—who led by the example of just practicing medicine.

Despite the skeptics who called me crazy and predicted failure, I took the leap and went 100% insurance-free in 2017. It was the best decision I ever made! Since then, not only have I thrived in my third party-free private practice, but I promote, advocate and teach other physicians to transition to this business model!

Transitioning to third party-free medicine requires a willingness to challenge the status quo and think outside the box. It’s about developing a mindset that goes against the grain, breaking free from the limitations imposed by insurance company administrators. This is true for all physicians – primary care and specialists.

While administrators and regulators may have their own quality metrics, they cannot compare to the true measure of success—patient satisfaction, return visits, and referrals. Direct care private practice models have the evidence in their patient panels. Direct care medicine is pandemic tested!

For physicians contemplating a transition to third party-free medicine, it offers a comprehensive solution—a Private Practice Solution. It encompasses the core pillars of success: price transparency, integrity, improved outcomes, and increased patient satisfaction.

Price Transparency allows you to communicate the cost of your services clearly and upfront, empowering your patients to make informed decisions about their healthcare – what services they are receiving and from whom. It eliminates the complexities of dealing with insurance companies. There are no issues with coding, billing, and reimbursement—just a straightforward fee structure that puts you in control, allowing you to react to market forces and ensures financial stability.

 

Price Transparency allows you to communicate the cost of your services clearly and upfront, empowering your patients to make informed decisions about their healthcare - what services they are receiving and from whom. Click To Tweet

.
Integrity in medicine follows the Hippocratic tenet to First Do No Harm – not only to our patients, but to ourselves. In a third party-free private practice, you have the freedom to maintain your professional values and practice medicine with unwavering integrity. There are no misaligned incentives; there is no interference from insurance companies dictating treatment protocols and options. There is no influence on your schedule and no rushing through patient appointments. You can prioritize what truly matters—the well-being of your patients. There is time to build and nurture genuine relationships based on trust, empathy, and mutual respect. It creates an environment where patients feel valued and receive the highest standard of care.

Improved Outcomes can be seen in direct care private practices. With the flexibility offered by a third party-free model, you can deliver truly individualized medical treatments that yield the best outcomes for your patients. Your time and your patient’s time is intentional as you can offer longer appointment times because your patient load is less. That time is important because it gives you the opportunity to truly listen to your patients, understand their unique needs, and tailor treatment plans specifically to them. This proactive approach goes beyond merely managing symptoms—it allows you the opportunity to identify and address root causes, leading to truly optimized results in your patients’ overall health and well-being.

Increased Patient Satisfaction is what every physician wants their patient to leave with. Patient satisfaction becomes more than just a buzzword—it becomes the foundation of your third party free practice. By prioritizing quality time and personalized attention, you create a stronger doctor-patient relationship. When patients feel heard, valued, and cared for, their satisfaction soars. Positive word-of-mouth referrals become the bedrock of your reputation as a trusted physician—a true partner in their care. Your patients become your ambassadors and advocate to others on your behalf. They ensure and fuel continued growth and success of your practice.

For me, transitioning to a third party-free private practice has been nothing short of transformative. It allows physicians to truly thrive and defy the conventional norms to carve their own path to success. Glad I didn’t listen to the naysayers!

Join me and the many direct care physicians who have found the Private Practice Solution that offers a win-win and a brighter future for both patients and physicians alike. Dare to challenge the status quo!

All opinions published on SomeDocs-Mag are the author’s and do not reflect the official position of SoMeDocs, its staff, editors. SoMeDocs is a magazine built with the safety of free expression and diverse perspectives in mind. For more information, or to submit your own opinion, please see our submission guidelines or email opmed@doximity.com. Do you have a compelling personal story you’d like to see published on SoMeDocs? Find out what we’re looking for here and submit your writing, or send us a pitch.

All opinions published on SomeDocs-Mag are the author’s and do not reflect the official position of SoMeDocs, its staff, editors. SoMeDocs is a magazine built with the safety of free expression and diverse perspectives in mind. Do you have a compelling personal story you’d like to see published on SoMeDocs? Submit your own article now here.

Share

Leave a Reply

Your email address will not be published. Required fields are marked *

This learning experience is powered by CMEfy - a platform that brings relevant CMEs to busy clinicians, at the right place and right time. Using short learning nudges, clinicians can reflect and unlock AMA PRA Category 1 Credit.

Of Interest

Subscribe To Our Newsletter

Get updates and learn from the best

The Unhappy Physician

The Unhappy Physician

Daniel Paull MD explains why he thinks that despite what the public thinks, most physicians are unhappy.

Social Dissections

[SERIES] Social Dissections

Join us in a visual and audio show, where we host light conversations with some of today’s standout healthcare experts.

David Norris, MD, MBA

Negotiate as a Physician and Win

Catch this 8-part series, hosted by physician & business consultant David Norris, MD, MBA & produced by Dana Corriel, MD. Learn to be a stronger negotiator with these important tactics.

Brand Your Social Media Content in a Day

Doctors Exploring Social Media

Raw and real social media-related questions, discussed in a video collection, hosted by Dana Corriel, MD, over a casual – but fun! – virtual setting.

Olga Calof, MD

Olga Calof, MD

My philosophy of care is to personally connect with patients, so we can work together to understand their disease, how it should be treated, and how to modify lifestyle choices to live the best life possible.

Judith Hong, MD

Judith Hong, MD

A board-certified dermatologist who loves and teaches mindful art classes, dance, and Reiki.

Deborah Gutman, MD, MPH

Deborah Gutman, MD, MPH

I coach and mentor pre-health and medical students with a growth mindset for successful applications to medical school and residency.

Want More?

Be a part of our healthcare revolution. Don't miss a thing SoMeDocs publishes!

Disclaimer: SoMeDocs assumes no responsibility for the accuracy, claims, or content of the individual experts' profiles, contributions and courses. Details within posts cannot be verified. This site does not represent medical advice and you should always consult with your private physician before taking on anything you read online. See SoMeDocs' Terms of Use for more information.

follow us

© 2024 SoMeDocs. All Rights Reserved.

Soak up our content & grow

Earn CME

Drop your email address below and we’ll email you the link for earning CME (through CMEfy). Please check your spam folder if you do not receive our email. We’ll also add you to our Sunday newsletter, so you can earn more CME’s reading our content!

Support A Platform that Celebrates Real Doctors

For just $10 a month, you can help keep this openly accessible site available to all & help us sponsor in more doctors.

Interested in subscribing
to our unique content?

Interested in subscribing to our unique content?

I acknowledge that this site is not to be used for medical advice.

Play Video
Our Founder Answers Your BURNING Question

SoMeDocs

“Why should I become a member of SoMeDocs if I already have my own space online?”

Site SoMeDocs Logo, square

WANT TO STAY IN THE LOOP?

DON'T MISS A SINGLE CONTENT PIECE.