By Zak Holdsworth, co-founder and CEO, Hint Health.
As physicians work to escape the fee-for-service hamster wheel in which they’re forced to practice medicine today, many are increasingly seeking out new and innovative business models that allow them to prioritize value over volume. This has led primary care practices across the country to rapidly transition to the most promising option available: Direct Primary Care (DPC).
Under this rapidly-growing business model, providers collect a monthly fee directly from their patients, or their employer sponsors, in exchange for a predetermined list of services. There are no guessing games, no copayments, no insurance claims submitted, and no third-party billing of any kind.
The vast majority of physicians adopting DPC are small- and medium-sized practices who are new to the experience of navigating direct-to-consumer models and customized employer plans, having in the past greatly relied on insurance plans for payments and new patients.
While there’s no magic wand to entirely eliminate the hurdles that appear through this transition, there are three benefits of emerging technology that can largely reduce the concerns that may have previously prevented physicians from considering DPC.
- Creates an all-in-one command center
Physicians now have the ability to build a foundation specifically designed to support practices as they transition to a DPC business model, while simultaneously reducing the complexity of direct-to-consumer membership management and employer direct contracting. By automating and streamlining all of these new processes — allowing providers to more easily manage their billing, payments, and networking infrastructure — practices reduce manual work and reap even more benefits of the DPC model.