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Cash-pay vs. insurance pay: deciding what’s best for your practice
As a clinician entrepreneur, one of the most critical decisions you'll face when opening or growing your practice is whether to accept insurance or operate with a cash-pay model. Both options have their advantages and challenges, and what’s best for you depends on your goals, patient population, and the kind of experience you want to provide. This guide will walk you through the key differences between the two models and help you make an informed decision.
How to make more money in a cash-pay practice
As a cash-pay practice owner, you may be exploring ways to boost your income while staying true to your mission. In this post, we'll explore several proven strategies to increase revenue without straying from your commitment to patient-centric care and holistic wellness.
In this post, we share numerous opportunities for practices to add ancillary revenue streams that support your practice’s goals.
How to build a cash-pay membership that sells itself
A membership program can be a powerful tool for building a successful cash-pay practice, helping you deliver high-quality care while maintaining a steady and predictable revenue stream.
This guide will walk you through why you should consider a membership model and how to design one that offers true value to both your patients and your practice.
Working with employers in a cash-pay practice
Employers are among the most influential players in the US healthcare system, covering over 60% of people under 65 through employer-sponsored health insurance. With rising costs and dissatisfaction with traditional healthcare options, many employers are exploring innovative solutions to support their workforce. This shift presents a significant opportunity for cash-pay practices to partner with employers, offering direct access to quality care and personalized services that address gaps in the current system.
How to price medications in a cash-pay practice
As we connect with clinicians launching, running, and growing their own cash-pay practices, a question that often comes up is how to price compounded medications.
Our recommendation usually is to price medications as a separate charge, ideally at cost (or as close as possible).
Why new practices should focus on local marketing (not paid ads)
When we work with new practices on patient acquisition strategies, we’re often asked about using paid advertising from day one. On its surface, paid ads on sites like Google, Facebook, or Instagram seem like they might make a lot of sense, especially for virtual cash-pay practices and for providers who have licenses in multiple states. However, the reality is that in most cases, paid advertising is not a reliable way to acquire patients early on.
How to research referral partners
Building a strong referral network is essential for wellness professionals looking to provide comprehensive care and grow their practice. Selecting the right referral partners ensures your patients receive top-notch care and helps your practice establish a reputation for excellence. Today we’re sharing our go-to tips for choosing the right referral partners.
How to build a referral network as a functional medicine practitioner
Building a strong referral network is essential for functional medicine practitioners aiming to provide comprehensive care and grow their private practice. A well-established network enhances patient care and opens doors for business growth through collaborative relationships. Below is a step-by-step guide to building an effective referral network.
Setting prices for your cash-pay practice
When it comes to launching and growing a successful cash-pay medical practice, one of the most critical decisions you’ll make is setting your pricing. Your rates not only reflect the value of your services but also determine the type of patients you’ll attract and the financial sustainability of your practice.