Unless you’ve been living under a rock for the past few years, it will come as no surprise to hear that reimbursements for pain services have been taking a hit. This means excluding other factors that pain doctors are working the same but getting reimbursed less.
How can a pain management center reverse this trend? Well there’s only so much a practice can do about the procedure reimbursement, however, the idea is to make more revenue off each patient.
Ancillary products and services are an amazing way to generate additional revenue from patients. There are 2 caveats:
1. Safe harbor laws vary from state to state.
2. You should really stay away from ancillaries that are only added for revenue as opposed
to truly providing patient benefit too.
When it comes to offering ancillary products and services, it may be risky to position your practice too early on the Innovation Adoption Lifecycle. It is typically best practice to start on the tail end of the Early Adopter phase, so that way others have been successfully providing the particular ancillary and “vetted” it.
Examples of ancillary products and services typically offered by pain centers include:
1. TENS Units
2. Durable Medical Equipment
3. In House Imaging
6. DNA Testing
7. In House Pharmacy
8. Regenerative Medicine
9. FDA Approved Injection Kits
10. Mental Health Questionnaires
Some of these only take a few minutes per patient to accomplish, are beneficial, and the reimbursement may provide a gross margin of a few hundred dollars. The question, though, is which one(s) to select? How to implement? What codes to use?
Staying on the “safe side” of Safe Harbor is obviously critical to the long term viability of your practice. But increasing revenue for the practice by offering an appropriate ancillary is also just smart business.
Therefore, including ancillaries in the practice are an excellent way to offer great care, improve outcomes and help the practice’s bottom line. My Pain Consultant will help you navigate the options for appropriate ancillaries, and assist with implementation too!