The rational way to increase revenues is to identify revenue streams that do not involve an inordinate amount of incremental time on the part of the physician. Within the walls of its practice, a group can offer any service that fits its specialty areas and is provided to its patient base. For surgeons, ambulatory surgery centers are an investment that can generate additional revenue while giving them their own outpatient setting for performing same-day procedures. In the search for solutions, however, physicians still grapple with the professional perception that it is not proper for a physician to make money from the delivery of care in outpatient business ventures. There is also a fear that physician business ventures carry significant risk relative to government regulation.
Physicians considering outpatient business ventures can consider the following, as well.
Physicians see the opportunities that exist in outpatient ancillary service delivery, but have become wary of taking creative entrepreneurial steps in light of current legislation and regulation such as Stark. The Stark laws serve an important purpose, addressing issues of abuse in the medical delivery system. But for entrepreneurs, who find no greater joy than turning a profit on a well thought-out and properly executed idea, they can create the impression of high risk, and the risk may be only perception if a business venture is properly structured and operated. With these elements in place, a practice can focus on excellent service delivery and quality of care. A business plan begins with a product line and an idea on how to capitalize on that product line.