May it be augmented reimbursement, improved communication with patients, or enhanced efficiency, the benefits of EMR systems in healthcare cannot be refuted. …
Telehealth is the fastest-growing patient care business in the medical industry.
TelevisitMD is a Telehealth Services Platform focusing on redefining the Gold Standard of Care.
While most of our members are Medicare eligible, we are expanding daily in our Mission to 'Access to Care'.
What an exciting time to start running your own Virtual Practice.
The best part of it is that we offer services that do all the work! You get to sit back and focus on the most important part: patient care.
Our company mission is to increase "Access to Care" for one million patients by 2023 and we have developed a successful model to reach this goal!
Our Platform fosters the ability for providers, like you, to increase their billability and profitability when and how it works for you!
Availability to treat patients suffering from physical ailments and those requiring diabetic treatment or supplies through our extensive Durable Medical Equipment ancillary network.
Many patients receiving long-term treatment may be receiving the wrong treatment and others could begin preventative treatment. We have an extensive Genetic Laboratory ancillary network.
There are many non-narcotic remedies for patients experiencing pain and other ailments, as well as colds, allergies, skin conditions. Our extensive Pharmacy ancillary network enables delivery of their treatment needs.
You are able to provide chronic care management and remote patient monitoring of patients, reduce patient admission and readmission, target RPM & CCM CPT codes, improve patient engagement and improve medication adherence
We will assist you in streamlining your practice and maximizing your annual revenue. By taking your practice virtual, and utilizing the TelevisitMD system, not only will you be able to increase new patient walk-ins & billables, but you will be able to maintain a stream of additional revenue while treating CCM (Chronic Care Management) + RPM (Remote Patient Monitoring) patients as demonstrated in the chart below. The numbers in the chart reflect your practice, this being with you treating only 5 patients per day for 5 days a week.
Make your own schedule! Only want to work 5 hours a week? GREAT!
You can login on your smartphone, tablet, laptop or PC/desktop and complete consults! You need to be able to access audio, video and voice.
Yes, you heard that right. If you want to work more, you increase your availability. If you want to work less, change your availability! Its all your choice! Receive all your patients at a time that works best for you!
We get to take the heavy load off of you as a provider and offer services to complete 90% of your virtual practice! Placement, patients, marketing, billing, coding, credentialing and MORE! We don't get paid until you get paid!
WHAT DOES IT TAKE TO RUN YOUR OWN BRICK-AND-MORTAR?
Spending marketing money on your practice, going to hospitals or other offices, and introducing yourself and what your practice does so you receive referrals - getting a patient base is hard, and takes almost two years to develop a good patient base.
THE BREAKDOWN (NATIONAL AVERAGES)
That's $308,241 without paying for billing!!
The average take home after all expenses paid: 20-30% of net revenue
You get to keep 30% of net revenue and have the ability to increase your revenue by us doing (90%) of the work!
Here are your options to INCREASE your billables after the bottom line of 100 patients/month.
In this example we cover the BASICS of average revenue our providers make:
Their own brick and mortar
Net Revenue for the year is $500,000 - $308,241 = $191,759 - (billing costs)
You have done all the work!
Let's say you take home $150,000 after all expenses are paid, you are now paying business and personal taxes, and it's still around 30% before taxes.
We bring patients to you, keep you covered with medmal insurance.
We bring patients to you through secure and easy to use technology. - fewer clicks than any other system!
You focus on patient care; we focus on executing safe practices. We don't get paid until you get paid!
REVENUE EXAMPLE: (All numbers are averages and can increase or decrease based on Medicare fee schedule)
(Ex: 25 hours per week, 100 hours per month x $117 net earnings per hour = $11,700 per month = $140,400 annual)
Set your goal using the above measure of $117 of NET earnings per hour and set the number of hours you want to achieve completing consultations for patients with TelevisitMD.
TELEMEDICINE ATTRACTS MORE CUSTOMERS TO YOUR PRACTICE
From a marketing perspective, telemedicine is a tremendous competitive equalizer. The virtual visit gives even the smallest practice a way to compete against market share encroachment from hospital ERs and urgent care providers. Offering on-demand telehealth appointments keeps the medical practice current with convenient service offerings in large hospital systems, networks of minute clinics in many retail settings, and stand-alone urgent care.
For small healthcare providers, fitting in urgent, same-day appointments on top of a busy schedule is challenging. That creates an opportunity for niche providers and healthcare systems with more resources to swoop in and steal your customer revenue.
There are more than 160 million urgent care and ER visits in the U.S. each year, and one study showed 31% of Americans use these providers because they are faster and more convenient than a traditional office visit. But a medical practice can recoup this revenue with a telemedicine service line.
It is a convenience of telemedicine that will attract more patients to your practice. The virtual visit eliminates traveling to your practice for routine care. It's a value-add for any medical practice seeking additional ways to attract customers and increase revenues.
TELEMEDICINE REDUCES NO-SHOW RATES IN THE MEDICAL PRACTICE
Patient no-shows are still a thorn in the side of most American healthcare providers, who lose around $150 billion each year due to this phenomenon. One unused appointment slot can cost a practice $200 on average. Multiply that with the average no-show rate of around 5 to 7% to understand the financial burden of a no-show patient on medical practice.
Telemedicine can be used to reduce no-shows by bringing doctors and patients together virtually without the barriers that make it more likely for the no-show to occur. For example, patients are more likely to skip an appointment if they have to take off work, find childcare, or travel to a distant doctor's office. If the patient doesn't have vacation or sick time, the time spent traveling and waiting to see the doctor costs them income.
Orthopedic patients are frequent no-shows for routine post-surgical check-ups because their reduced mobility or pain makes them less likely to travel to a distant office. They may not be able to drive or use public transit, so they need transportation assistance. If that isn't available, they'll be at risk of a missed appointment.
A telemedicine visit reduces no-shows by bringing the doctor to a device as familiar as a cell phone. Patients can and should be seen in their homes virtually, cutting the costs and time associated with seeking a traditional office visit. A recent study showed telemedicine reduced no-show rates by 50%.
Every missed appointment means a direct hit on the bottom line plus an opportunity cost for the provider. Not only will you lose the patient encounter revenue, but there's also the cost of underutilized staff. Telemedicine reduces no-shows and allows you to see patients more quickly.
If you do have a no-show, it's easy to fill the appointment with a telemedicine visit to recoup revenue.
TELEMEDICINE CUTS HEALTHCARE COSTS
Telemedicine is simply a more efficient way to provide care. Virtual technologies eliminate overhead costs in the practice while lowering the average time spent per patient encounter. According to one study, practices save $24 per patient in overhead costs for every telehealth visit. It also illustrated that the savings cross over to patients, who save an average of $50 in travel costs per visit.
According to the Journal of Managed Care study, the average encounter time per patient, including their travel time, is 120 minutes. Yet, a telemedicine visit averages 16 minutes and can be completed from the comfort of the patient's home. There is an obvious saving for patients and providers.
When you consider that the latest CMS rules require parity for telemedicine reimbursement at the same rate as an in-person encounter. When you couple this reimbursement rate with the cost savings earned from even one telehealth visit, the ROI is clear.
TELEMEDICINE RETAINS EXISTING CUSTOMERS
The secret to growing any business is, first, retaining existing customers. But healthcare, like all fields, is increasingly competitive. Independent practices compete with hospital networks, urgent care and minute clinics, ERs, and even on-demand telemedicine providers for the same patients.
But offering a telehealth service line can help you build patient engagement by providing more convenient care. Patients are increasingly frustrated by long wait times or by anything less than “on-demand.” Offering the option of a telemedicine visit when the doctor provides care to patients in their homes is an attractive proposition to many of our busy customers. Secure texting, emailing, and video chatting are all venues today's patients are very comfortable with—even before COVID-19 changed how we do business. Promoting a virtual service line in your practice offers your patients a more convenient way for your patients to receive care. Telemedicine is patient-centric and, in this way, will continue to engage your patients that are frustrated with the traditional healthcare visit.
It should be noted that telemedicine also solves a big problem, which is that 3.6 million Americans do not obtain healthcare treatment because they don't have transportation to get to their doctor's office. It's a big problem for older adults. But 96% of our patients own cellphones.
Telemedicine offers the convenience of bringing the doctor to the patient, not the other way around. This technology also solves barriers to accessing care. Offering telemedicine ensures that your practice will stay competitive by engaging your existing customer base.
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