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Quick Recs for Getting Out of the Insurance Trap

Daniel Paull MD spells out the baby steps needed to stabilize your practice with cash bases.

August 24, 2023

If you are sick of hospital systems and insurance companies controlling your life, then you are certainly not alone.

How can you get out of the trap?

Going full cash based practice immediately works for some, but it is a big step, that not everybody is ready to take.

The question is are there baby steps you can take, to walk your practice away from the conglomerates?

 

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Yes there are.

To do this, you can gradually add cash bases, while removing insurances that you interact with.

It is worth looking at all of the insurances that you take, and determining which one pays the least and at the same time requires the most effort to get paid.

The effort is time and frustration / manpower to get paid and to get basic things ordered.

This would be the first insurance plan to jettison.

 

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The next step would be to add cash bases, something that insurances probably wont pay for.

These types of things are: regenerative medicine, aesthetics, medicolegal work etc. You need to find which flavor fits you.

As you build up your cash bases you can jettison more insurance plans.

In time, you can downsize your office (no need for all that space and billers/coders).

This will help you find the path to freedom.

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.

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