Time to become a busy pain practice

[painlove]

Hi Everyone,

I was hoping someone could share some insight on how long it would take in becoming a busy pain practice when starting from scratch?
Also, how many months should I expect to be in the negative (from overheard - MA, EMR, malpractice, etc) until I break even and then finally make a profit? Keep in mind I will be doing 90% procedures in an ASC so only collecting the professional fee.

Also, roughly how many initials, follow-ups, and procedures should I aim to do each week?

Thank you for your insight!

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[pmrmd]

How long? Forever with your business plan. You cannot pay the bills with professional only fee.

 

[EtherBunny]

Hi Everyone,

I was hoping someone could share some insight on how long it would take in becoming a busy pain practice when starting from scratch?
Also, how many months should I expect to be in the negative (from overheard - MA, EMR, malpractice, etc) until I break even and then finally make a profit? Keep in mind I will be doing 90% procedures in an ASC so only collecting the professional fee.

Also, roughly how many initials, follow-ups, and procedures should I aim to do each week?

Thank you for your insight!

It depends on a few factors: location/saturation of the area, how aggressively you market yourself, the work situation of potential referral sources (hospital employed or private practice?), your bedside manner, and your opioid prescribing habits.

Worst case scenario: 2 years.

 

[mazinger]

How long? Forever with your business plan. You cannot pay the bills with professional only fee.

You need to do your procedures in office, otherwise it will never be profitable..

 

[drusso]

Hi Everyone,

I was hoping someone could share some insight on how long it would take in becoming a busy pain practice when starting from scratch?
Also, how many months should I expect to be in the negative (from overheard - MA, EMR, malpractice, etc) until I break even and then finally make a profit? Keep in mind I will be doing 90% procedures in an ASC so only collecting the professional fee.

Also, roughly how many initials, follow-ups, and procedures should I aim to do each week?

Thank you for your insight!

Being ASC-based you're going to have to be VERY lean. Two years. You're going to have to watch your mix carefully.

 

[DrCommonSense]

Hi Everyone,

I was hoping someone could share some insight on how long it would take in becoming a busy pain practice when starting from scratch?
Also, how many months should I expect to be in the negative (from overheard - MA, EMR, malpractice, etc) until I break even and then finally make a profit? Keep in mind I will be doing 90% procedures in an ASC so only collecting the professional fee.

Also, roughly how many initials, follow-ups, and procedures should I aim to do each week?

Thank you for your insight!

Why would you start a practice from "scratch" to go to someone else's ASC so they can get the majority of the money while you assume the overhead?

With that type of model, you should just join an ortho group whereby you only pay for overhead on the office visit days at a low cost structure and collect the pro fees at the ASCs without paying anything in overhead on those days.

 

[deleted185747]

The ASC model only works if its your short term plan while you ramp up to buy your own c arm for your office or your own ASC once patient volume supports it.

On a scale of 1-10 with 1 being very, and 10 being never: How comfortable are you prescribing opioids for fibromyalgia? Thats your number of years to profitability 😉

 

[Pain Applicant1]

Not to disagree with almost every post here but I disagree with almost every post here. You can become profitable quickly if you manage your business well. I was profitable somewhere within the second month. 1. Set your contracts up with payors, including Medicare, well before you open up. 2. Move to an area where you'll be in high demand. 3. Get on board with drug and stim reps to set up lunches with referring docs so you'll have a busy schedule from day 1. 4. Keep your overhead low and don't pay for things (most of the time; sometimes it's worth it) you can get for free, such as the EHR. 5., 6., and 7. Learn billing, learn billing, and then learn billing when you're done.

I didn't have my fluoro in house at the beginning. I think it took 3-4 months before I purchased one.

 

[EtherBunny]

The ASC model only works if its your short term plan while you ramp up to buy your own c arm for your office or your own ASC once patient volume supports it.

On a scale of 1-10 with 1 being very, and 10 being never: How comfortable are you prescribing opioids for fibromyalgia? Thats your number of years to profitability 😉

Lol. Sad but true.

 

[hyperalgesia]

Using an ASC does afford some liberties, especially if you want to ramp up fast.

You could be positive in the first 6 months if you keep overhead low.

1. Sublet an office a few days/week. Ask around for who has space. Try to include existing office check-in staff support in sublet.
2. Find a malpractice carrier that supports 1/2 time for 1/2 price (plan to do this for 6-12 months).
3. Use inexpensive web-based, billing integrated, EMR. Something that integrates with a clearinghouse.
4. Market yourself.

 

[drpainfree]

The ASC model only works if its your short term plan while you ramp up to buy your own c arm for your office or your own ASC once patient volume supports it.

On a scale of 1-10 with 1 being very, and 10 being never: How comfortable are you prescribing opioids for fibromyalgia? Thats your number of years to profitability 😉

fibroprofitability Rule...I like it!