What differentiates it from competitors by offering a more comprehensive program that avoids industry practices like frontloading. Frontloading forces customers to buy large quantities upfront to get discounts, with ongoing minimum purchase requirements. This practice can burden a medical practice with $50,000 to $100,000 in unused inventory.
IMR eliminates these heavy initial investments and the subsequent financial risks, significantly reducing upfront and ongoing costs.
Doctors are primarily drawn to our system for three key reasons:
There are no upfront costs to begin using our services. If you're an established practice with a basic inventory of medical supplies like curettes or scalpels, tissue scissors, saline, Steri-Strips, rolled gauze, Coban, and bandages, items you likely already possess—you can start immediately. We provide the grafts on consignment, meaning they are shipped to you with no initial payment required. Each graft has a net 30-day payment term starting from the day of use. This payment structure helps to space out invoices, avoiding any cash flow disruptions in your practice.
In summary, our system is designed to be financially accessible . It eliminates initial expenses and offers staggered payment terms to smooth out financial commitments, making it a cost-effective option for established practices.
Traditionally, doctors often face financial losses in patient care due to low reimbursement rates, sometimes as little as $100, while also bearing the costs of medical supplies. Our products are specifically designed to enhance practice profitability. Even smaller practices with minimal patient volumes, such as two patients per month, can achieve substantial profits through our system, potentially transforming their financial landscape.
Additionally, eliminating out-of-pocket costs and implementing a net net 30-day payment term alleviates immediate financial pressures, allowing practices to manage expenses more effectively. Practices that have adopted our system report significant financial improvements, increased staff satisfaction, and enhanced overall profitability. Our approach is tailored to ensure practices thrive financially without any negative outcomes.
In summary, our system counters the financial challenges of traditional care by removing upfront costs, extending payment terms, and ensuring practices can become profitable with even a limited number of patients.
There are generally no significant reasons for a doctor to be uninterested in our program. Occasionally, the fear of the unknown might cause some hesitation. However, we address this concern by providing extensive support. Our program offers membership opportunities for podiatrists through initiatives like "Saving Limbs, Saving Lives," which includes peer-to-peer counseling and the chance to consult with our organization for advice.
Additionally, we recognize that doctors often receive limited administrative support, so we ensure they have access to an overwhelming amount of assistance in this area. This comprehensive support system is designed to ease any concerns and facilitate their involvement in the program.
The process is straightforward and quick for an established practice with current credentials and Medicare enrollment. Typically, they can begin using our system within one to two weeks. If any deficiencies need to be addressed, this might extend the timeline slightly, but generally, the transition is efficient and poses minimal disruption to the practice's operations.
This approach ensures that practices can swiftly benefit from our services without a lengthy setup period.
No, you are not required to commit long-term when you join our program. While we encourage new participants to fully engage with the program for at least six months to gauge its effectiveness, there is absolutely no requirement to commit long-term.
Typically, seeing meaningful results takes time; for instance, if a patient undergoes treatment involving about ten visits, you're looking at nearly two and a half months of treatment. Combined with our net net 30-day billing terms, it takes about six months to fully appreciate the program's benefits and performance.
However, you're free to decide the duration of your participation, as there are no binding long-term contracts with our billing or our services.
In a billing scenario, there was a delay in sending out claims, which began seven weeks after services were rendered, close to the net 30-day deadline for payment. The initial claims were incorrectly coded and denied, and a subsequent submission was rejected as a duplicate. This led to a detailed process of writing separate letters for each claim, which is necessary as a single letter typically doesn’t suffice. The process was further complicated by the slow response times allowed for payors, up to 120 days, while the provider has a limited timeframe to address denials. The claims have sense been processed and paid. This example underscores the importance of timely and accurate billing to ensure steady revenue flow.
Our approach was to ensure timely and accurate initial billing to avoid a cascade of issues. Effective training and oversight of the billing process and a robust system for managing claims and denials could have prevented these problems and maintained a steady revenue stream. This experience highlights the need for practices to adopt efficient billing systems and procedures to mitigate such challenges.
We offer comprehensive support for physicians exiting hospitals to establish their own independent practices. Our services include helping them get fully credentialed and advising them on structuring their new practices with a focus on wound care, alongside other medical services. This approach not only helps them smoothly transition out of the hospital setting but also allows them to specialize and potentially enhance their new practice’s offerings and profitability.
With Medicare and most other payors, claims must be submitted within 60 days. If the claim is clean and has no issues or errors, it is generally processed within 14 to 21 days. Payments are usually issued on a designated day each month, such as the third Thursday, and are directly deposited into theit account.
We've set up our net 60 payment terms based on these experiences to provide some cushion.
This accounts for possible delays like slow responses to billing inquiries or holidays. The fiscal, not annual, timing of Medicare also influences this setup. On average, with these considerations, we ensure that reimbursements are received within the 60-day window.
We provide specialized support for physicians leaving hospital environments to start their own practices. Our services include helping them establish their independent practice, assisting with the credentialing process, and guiding them in focusing their practice around specific areas like wound care, while also incorporating additional services.
This targeted support helps physicians effectively transition to and thrive in an independent practice setting, leveraging their skills in areas with high demand and potential for growth.
Our founder, with over 30 years of experience in starting medical practices, is well-equipped to guide nurse practitioners who wish to establish their own practices. We provide comprehensive support including setting up the practice, handling credentialing, and ensuring all paperwork is properly managed to get them operational. Many nurses, who are already experienced in treating wounds, find opportunities in home health care, assisted living, or nursing homes. Starting their own business not only offers them greater freedom but also allows them to capture the revenue from the services they provide. This approach empowers nurses to leverage their skills in more autonomous and financially rewarding ways.
Yes, the requirements for nurse practitioners and other healthcare professionals to start a practice vary significantly from state to state. For example, in Texas, a nurse practitioner must have a collaborative agreement with a physician who is aware of and supports their practice, providing an opportunity for peer-to-peer counseling if needed. In contrast, California has more stringent requirements. The state is currently transitioning towards allowing nurse practitioners to practice autonomously. Still, it requires them to first work under supervision for two years and complete 3000 hours before moving towards autonomy.
This process is expected to take three to four years in total. We provide detailed guidance to practitioners on these state-specific requirements to ensure they can navigate the process smoothly and effectively.
Word of mouth remains one of the most powerful marketing tools available, especially in healthcare services. When patients experience a positive service, they typically share their experience with at least five others, often leading to inquiries from friends and family, like neighbors or cousins. This organic spread of information can significantly increase patient intake without the need for extensive marketing efforts.
The appeal of having accessible healthcare services right in one’s neighborhood, such as home healthcare or assisted living, enhances this effect. People appreciate the convenience of not having to endure long hospital waits and feel more comfortable receiving care in familiar surroundings. Therefore, focusing on providing excellent service that patients will naturally want to talk about is an effective strategy to attract more patients.
Most doctors express a sense of relief and joy after implementing this system in their practices. They are often in search of ways to enhance their practice and provide better solutions for their patients, particularly those facing challenging health issues. The ability to significantly improve patient outcomes, such as healing wounds 50% faster and restoring mobility, is highly rewarding.
Doctors report tremendous satisfaction when they can close wounds on critical areas like the sole of the foot or ankle, which not only prevents limb amputation but also dramatically improves the patient's quality of life. This success brings them a great sense of professional fulfillment and personal satisfaction.
No, our program is truly unique. It has been crafted based on years of firsthand experience our founder gained while consulting with doctors on practice development. Understanding the challenges of integrating new processes into well-established, regimented practice routines, our program is designed to fit seamlessly into a practice's daily workflow. This ensures ease of adoption and effectiveness, addressing medical practices' specific needs and operational styles.
Our distinct program simplifies integration into existing practice structures, making it a standout choice for enhancing operational flow and efficiency without the usual implementation challenges.
Our team is here to provide answers, resources, and support, whether you're just starting your search or ready to implement our solutions.
