Connect the dots: While weight loss is a thriving, several billion dollar industry, group practices are steadily losing revenue. Apparently, there is much to be learned in the medical world about how to tailor the business side of operating a health practice to meet the needs of its patients, or rather, its consumers.
Let’s face it: A medical practice is a business. And businesses need revenue to survive and thrive. Traditionally, most practices have relied on insurance reimbursement for its financial wellness. However, with insurance and health care currently in the political crosshairs, most practices — especially small and mid-sized ones — need to look for ways of being financially independent. This is where ancillary services can come in, and provide a means for practices to generate revenue with fee-for-services options that support their patients with their most pressing health issues. Medically supervised weight loss is an underutilized health care service which can potentially result in a serious influx of consistent revenue.
Think about it — every single medical practice has a built-in clientele for weight loss services. According to the Centers for Disease Control and Prevention, more than two thirds of U.S. adults are overweight and more than one third are obese. It’s safe to say that with this many people suffering from what the American Medical Association has now classified as a chronic disease, most providers have patients with obesity that need to lose weight for a multitude of reasons. In fact, not only are physicians missing out on revenue potential, obesity is actually costing them money because of the expenses linked to treating comorbid conditions directly associated with the disease.
Many doctors who have decided to start offering weight loss services have agreed that it is a stable revenue source with minimal startup costs. In fact, a program can generate nearly $1,000,000 in net revenue in just three years. Plus, getting a program started is much easier than you might think, especially when you work with an experienced partner. Robard helps you change the lives of your patients by providing all of the tools needed to run your own medically supervised weight management program. Centered on personalized nutrition and behavior change, our programs include out-of-the-box components/solutions for your medical team to offer your patients a successful fee-for-service weight loss program. The kicker? We provide you with complimentary support services you need for the lifetime of our relationship.
So really, there’s nothing to lose, but so much to gain. Why continue to struggle financially when there is an untapped profitable market for weight loss already walking through your doors? Ready to learn more? Click here to watch our free webcast on how to incorporate medical weight loss into your existing practice or contact us today and receive a free potential revenue analysis and consultation on how adding this ancillary service can boost your practice profitability!
Sources: Medscape, U.S. News Health
Blog written by Vanessa Ramalho/Robard Corporation