Blog time again!

It's been awhile since I posted something. It's been busy in the clinic and in life in general. I would like to start the new year with some thoughts on the current insurance crisis in America.

I've seen insurance premiums go up 20-30% every year. Since we actually pay 100% of the medical insurance for our full time employees, the increases are starting to hurt. I can see how other companies are starting to purchase cheaper policies. This problem is also evident in our patients. Many of our patients now have very poor coverage. Their deductibles are high, the co-pays are outrageous, and their limitations on visits are very low.

Our average reimbursement per patient has also dropped. Many of the insurance pay less for the same work.

With all of these factors affecting the industry, it's no wonder why many private facilities are switching to a cash only practice. I've considered the possibilities. However, we are not currently ready to make the switch. We have added more cash based services like pilates, massage, and personal training. All of the additional services are, in a way, necessary to offset the decreasing reimbursement numbers. At this rate, in 3-5 years, I believe many private practices will have to transition to a cash basis and avoid insurances all together.

The funny thing, is that the stocks of these insurance companies are going up and up!