Episode #16: Integration Path #2 - I'm a Growth Coordinator (Part 3 of 5)

Published: March 10, 2020

https://youtu.be/a4kr4VRgFwU

Show Notes:

Speaker 1: (00:00)
Hey doc, welcome back. This is Dr. Andrew Wells with a simplified integration podcast. This is episode number 16 the integration path number two, I'm the growth coordinator.

Speaker 2: (00:13)
Leonardo da Vinci once said that simplicity is the ultimate sophistication and I agree. You see the problem with the way that most consulting groups approach medical integration is anything but simple. In fact, it's the exact opposite. It's expensive, it's complicated and quite frankly it's exhausting. Enough is enough. There are far too many amazing integrated clinics that are struggling. Well, I'm on a mission to change that. What I've come to find from over five years working with integrative practices is that simplicity really is the secret. The old saying of less is more is true. Through a streamlined approach, I was able to create multiple successful seven-figure integrated clinics and now I'm going to show you how you can do the same. Join me as I share with you the secrets to successful medical integration and practice growth. Join me on a journey to greater sophistication through innovation. I'm Dr. Andrew Wells and welcome to the simplified integration podcast.

Speaker 1: (01:11)
Hey doc, it's good to have you back. I'm very excited for this episode. This is a part three and a five part series and this is what we call the second path of integration. And this is the one I get the most excited about because it's the one that is really changing regenerative medicine today as it currently stands. And you know, we got back into regenerative medicine back in 2015 I believe. And at the time we didn't have a whole lot of competition, nobody was doing it. And we found this really hungry market for nonsurgical, non-pharmaceutical approaches to joint joint pain. And so when we first started doing seminars and advertising for our, our regenerative medicine program, we got a ton of patients through the door. We converted a lot of them. Uh, it was really financially rewarding. We helped a lot of people and it was, um, it was amazing.

Speaker 1: (02:01)
And so people caught onto that and so more doctors started doing it. We had, um, you know, funny story, I talked to a medical doctor in town, uh, years ago about our program and she was, uh, she was super skeptical about it. I didn't have a lot of good things to say about it. She's like, ah, it's kind of experimental. She got, I don't know, insurance doesn't cover it, like not really, like it wasn't too enthused about it. And then, um, in fact she really criticized our program. And then low and behold, two years later, guests, you still in regenerative medicine, this doc. And so everybody's like, everybody jumped on board. And it's funny as that doctor that, uh, who I just mentioned started doing her own seminars and I was laughing because she was like doing it all wrong and she wasn't getting any attendance to her, uh, any guests who her seminars, cause she didn't know how to market for it, but she was also really late to the game because we had already like flooded our area with advert.

Speaker 1: (02:56)
Like everybody knew that we were the people to go to for regenerative medicine. So she was this late and I talked to so many chiropractors, they're like, man, I would love to do regenerative medicine, but I just, I think I may have had, I may be too late. And that's true and not true in some respects. If you're going to do it the way most people are doing it, where you're doing it as a, as a cash program, uh, you're doing, uh, you're, uh, you're advertising for a seminar in a newspaper or Facebook. If you're in like a big populated area with lots of competition, like that strategy is probably not going to be the right fit for you. So things have changed a little bit. However, there is a, there's a shift happening right now and we're, we're real really leading that shift to, um, a new way, a new approach to regenerative medicine.

Speaker 1: (03:38)
And this approach is, the beauty of it is it makes it affordable to patients, but also it's really profitable on our end, on your end. And so this is where this path number two fits into the three paths of integration and this path is becoming more and more popular, but also they're not. Here's the, here's the deal as we're recording this now, this is in February of 2020. There are not a lot of docs doing this. So if you're like, if you're like waiting for a good time to integrate, now is a good time to do it. If this is the right path for you. So let me explain how this path works. So let me, let me, let me, uh, kind of re recap what we went over the last, uh, two episodes. So there are three paths. Integration, the first path being a streamlined innovator.

Speaker 1: (04:21)
That is the approach where you're using, uh, regenerative medicine as a cash service. You can run this as a part time sort of side hustle or a side niche in your practice. It runs right along your chiropractic business. It's part time medical staff. You're seeing anywhere from 10 to 1520 patients a month. This is where, you know, if you want to collect 20 to 40 K a month in cash collections, that's a great way to do it. Especially good in areas though that are not super, super competitive. So if you're in a rural area, if you're in an area where no one's doing regenerative medicine, that's an awesome approach. Path number two is what we're going to talk about today. So this is when, um, this is where we're starting to strategically add certain insurance based therapies. Now before I go any further, I want to address this, this issue that people have with integration.

Speaker 1: (05:08)
This issue I had with integration is when you do it conventionally, when you can eventually integrate or you go to like these big box companies that teach integration, they're going to throw like 20 different therapies at you and add this therapy, add that therapy and this therapy and like, yeah, there's a really like complicated burdensome approach to regenerative medicine. And that approach is really, it's like trying to get insurance, like it's trying to use it, use an insurance, a patient's insurance for like as much as you can. So you just bill a bunch of stuff to insurance and hope that that crap sticks. That was like the old approach to integration and it doesn't really work anymore. It gets you a lot in a lot of trouble with Medicare and insurance companies and audits and all that. It's just a dumb approach. It's an outdated approach.

Speaker 1: (05:55)
And so what we're doing here is we're looking at strategic insurance-based therapies that still pay really well, that are stable and not going to go away next year to help support your program. Um, support your program and the fact that it helps the patient, it's good for reimbursement and also it gives you, um, it gives you a healthy stream of revenue. So here's what I'm, I want to give you a little like behind the scenes look at conventional integration. Like if you, if you integrate most of these, like big box integration companies have seminars and you go to a seminar like every six months. And the sad thing about these seminars is you go there and it's, it's like a, it's like a vendor merry-go-round. So you go to the seminar or two day seminar, you sit down and they parade one vendor after another after another after another.

Speaker 1: (06:40)
And so you're sitting there as a doctor and it's like, all right, implement this service and implement this service and implement this service. And like you try all these vendors and then all that stuff doesn't work. And then you'd go to the same seminar six months later and guess what? It's a whole new parade of different vendors and it's like, Hey doc, try this service or try that product or try this approach. And it's the same thing every six months. It's a new merry-go-round to vendors. Like if you've been in integration, you know exactly what I'm talking about. It's like a shameless, it's a shameless promotion for these products and the, and the consulting and management groups get a kickback on all the vendors that you use. That's how the game works by the way. And so that is a not a smart, like most doctors are aware, like that's okay, that's not going to work longterm.

Speaker 1: (07:25)
And so when we're talking about maximizing profitability with insurance based services, I'm talking about services that have been around for 20, 30, 40 years that still have good reimbursement, that still make sense to the patient. That's not this reimbursement dumpster diving that most doctors get trapped in when they integrate. So what we're doing is we're actually combining, uh, uh, three insurance-based services. So it's a combination of three services that you can use to make, uh, uh, regenerative medicine a lot more affordable and to help people with joint pain. And maybe you don't do regenerative medicine, but my point is, is that you're, instead of just offering a cash based service, you're implementing these insurance-based services to grow your practice to see more patients. But the beauty is it helps the patient because you're using a patient's insurance. It makes it a lot more affordable for the patient.

Speaker 1: (08:12)
So let me give you an idea how, uh, more, more of a clear example of how this works. I got a call from a doctor in, uh, on the West coast and he was panicking and he said, Hey, uh, Dr. Wells, I, I need your help. I've been doing regenerative medicine for years now and, uh, and it's not going well. And I said, well, what's, what's going on? He goes, there's this guy down the road from me, he's charging 500 bucks for regenerative medicine. And I'm like, well, he must be doing PRP. And I said, no, he's not. He's doing regenerative medicine. And I said, well, like what is he, what proxies? He's using amnio, he's using Wharton's jelly, he's using exosomes. It's not PRP. I'm like, wow. Um, so I looked up the clinic and this doctor was doing this exact strategy, what I'm talking about.

Speaker 1: (08:57)
And so this doctor who called me, he's like, Hey. He's like, how am I going? What are you charging for regenerative medicine? He said, I'm charging what everyone else charges four or five, $6,000 an injection. And I'm like, well, either you switch to this strategy, this path number two, or you should give up your program because it's, this guy's going to outcompete you. He's, he's out pays, undercharging. He, he's what sick. I'm like 300% less than what you're charging your patients. It's not gonna work. So either you switch strategies or you give up regenerative medicine. And that's what's happening right now in these competitive markets. So unless you have a better strategy, it's not going to work. And the strategy is brilliant because if you're, let's say you use these, a combination of three therapies, right? What we're seeing back in reimbursement, and this is nationwide.

Speaker 1: (09:44)
This is not just in certain pockets, but these three insurance spaced therapies, or we're getting back anywhere from 3,500 to $5,000 per patient. That's with insurance. So the all the patient has to do is pay their copay, they're getting this amazing therapy and they're getting great results, and the doctor's making a bunch of money, so it's profitable. Then on the backend, we're adding regenerative medicine. And at that point, since you've already made your money on the patient, you can charge whatever you want. You can charge 500 bucks, 1000 bucks, 2000 bucks for regenerative medicine. So you're still collecting cash and you're still increasing your revenue, but you're making it affordable to patients. If you use that strategy, you can use that strategy anywhere across the U S right now, and it's killing it. You can, it's like, it's like doing regenerative medicine back in 2015 2016 because no one else is doing this right now.

Speaker 1: (10:32)
So that's in a nutshell, like that's what this path number two is, um, is becoming what we call a growth coordinator. So we're maximizing collections. We're making, uh, we're using predictable insurance-based therapies and we're not using 20 different therapies. We're using three. So the billing is actually very streamlined. This is a program where if you're looking to collect anywhere from 40 to a hundred thousand bucks a month in revenue, this is a great strategy. So again, that like path number two is when we talked about before, this is great for if you want to collect anywhere from 20 to 40 K in cash. Path number two is if you want to bump that up. So if you're looking to create a high six figure, even a seven figure business, this is an incredible strategy to, to implement. Um, and again, because it's, we're using a broader range of therapies, it's great for competitive markets.

Speaker 1: (11:20)
Uh, and also this is the nice thing about this, this, um, strategy is because we're using insurance. And I hope that you understand this. Doctors who have done regenerative medicine, uh, for any amount of time we'll get this because we're using an insurance. There is almost no case management, uh, system in place. So in other words, when the patient comes in, there is no high ticket selling. There is no complicated sales process. The patient comes in, they see your medical provider, the medical provider determines whether or not they need help. And if they do a yes, we can help. Here's what we're going to do today. And the patient starts care because they don't have to shell out five, six, 10,000 bucks, that all that's gone. So because this is based on insurance, there is no case management, there is no sales process, there's no lengthy consultations.

Speaker 1: (12:07)
Your medical staff can run this program. It's just like if you go to your primary care doctor or an orthopedic doc or any other like medical doctor in your town, they don't have a complicated sales process because all their stuff is covered by insurance either. The question is, can you help me? The patients want to know two things. Can you help me? And then your medical staff can answer that question. And number two, how much does it cost? Well, Hey, great news is covered by your insurance done, right? So they start care. So this is a staff-driven protocol. So you don't have to, you know, the chiropractor typically has to be like the salesperson and do the exam and like all this stuff, you don't have to do that anymore. It's a staff-driven. So what it allows you to do is focus on other things.

Speaker 1: (12:49)
So this is where you can truly become the manager and oversee the business operation, the management of this, uh, of this type of therapy, and then allows you to do a lot of different things. So you have more free time. You can invest that back in your business. You can maybe work on expanding your office. Maybe that means that you can spend more time outside of your office either like, uh, being able to go to the gym again or spending time with your family or going on long overdue vacation. It's like all those things are possible when you're, um, when your system is staff-driven. So this is, this gets rid of that like classic doctor burnout that so many doctors go through when they do conventional integration because conventional integration is so complicated to run and confusing and exhausting. It's not, that's not this. And so this allows you a lot more, it's what doctors are looking for.

Speaker 1: (13:34)
Doctors want, most doctors want some free time outside their practice. They want to be able to make a comfortable income to buy houses, cars, vacations, that kind of thing and save for retirement. Um, and it's, um, it's just much easier to run. It's a much streamlined, simpler way to do integration. So this system, by the way, uh, you're not, this is not a high volume system. If you're seeing 20 patients a month, that is it massively successful practice. So if you can see 25 patients a month using this protocol, like doc, you're doing it really, really well. If you're seeing 10 patients, 10 to 12 patients a month, you're still doing well. So this is not a high volume system. I hope you understand that you're not trying to get to 300 patient visits a week. You're hoping to get a handful of patient visits a week.

Speaker 1: (14:19)
Amazing, right? So imagine how much easier that is to run than conventional integration or doing some high volume type system. So this is path number two and you can run up full time. Most doctors, most doctors will run this full time or they have a full time medical staff. You can also run a part time. So if you started with path number one, you're doing just cash, part-time cash, regenerative medicine, you can plug the system directly into your office and do it part time and it works just fine like that. So, um, I'm super excited about this path. This is what most doctors are starting to, um, shift to now because they understand the, with regenerative medicine in competitive areas, but also the challenges with integration in general. So this is a much, much more streamlined way to do it. Um, I hope you're excited about this.

Speaker 1: (15:02)
If you have any questions about this path and you're like, Hey, I'm really interested in this, uh, shoot me an email@infoatintegrationsecrets.com. That's info integration secrets.com and I'll send you a, um, a training that I recorded just based on this path and how it works. I'll break it down for you. So I'm DACA. Hope you found this beneficial. Great to have you on the podcast today. And I look forward to having you on the next episode, which is part four in the five part series where we'll talk about how to scale and grow your operation. So if you have a great day and we'll talk to you soon.

Speaker 2: (15:37)
Hey innovators, thanks for listening to the simplified integration podcast. Fact that you're listening tells me that you're like me, someone who loves simplicity, and the truth is those who embrace simplicity are some of the greatest innovators. So hope you got a ton of value from what we covered on today's episode. Be sure to subscribe and share with other docs that you feel could benefit from greater sophistication through simplification and innovation. If you've got specific questions that you'd like answered on this podcast or you've got specific topics that you'd like me to discuss, just shoot me an email at info@simplifiedintegration.com

Speaker 1: (16:13)
that's info@simplifiedintegration.com.

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