Earn an Extra $3,000/month with Your Own Telehealth Practice
Is this possible? Absolutely! and the math is simple…
MODEL #1 – REGULAR TELE-VISITS (MODERATE COMPLEXITY)
Here are the average reimbursements for moderate complexity visits (see CMS Physician Fee Schedule for national averages and input relevant CPT codes)
Through Medicare reimbursements are $120-$140 per visit and I’ve seen AR Reports for private payers that are reimbursing over $200 per visit.
Let’s assume you only did 20 visits per month (5 per week) and they were split between 10 Medicare and 10 Private Payer. Let’s assume an average $130 per visit Medicare and a flat $200 Private Payer ($1,300 + $2,000) would give you a total of $3,300. For PA’s, the Medicare reimbursement rate is only 85% ($1,300 x 0.85) so it would lower Medicare reimbursement to $1,105 giving you a total of $3,105 instead of $3,300.
Now you need to pay your Collaborating Physician $10 per chart so 20 charts is $200 which lowers you to $2,905. Last but not least, we need to factor in your malpractice policy which for Physician Assistants averages about $1,000 for the year but let’s assume that its much higher. Let’s assume your policy is $200 per MONTH which brings total revenue to $2,705.
$2,705 / 20 visits equals:
- $135.25 PER VISIT AVERAGE
- The average visit is completed in 3-7 mins for an average time of 5 mins.
- 20 visits at 5 mins each is 100 mins which equals 1.66 hours.
- I will round this up to 3 hours to factor in time between patients to wrap up notes, use the restroom and get a drink of water.
- So $2,705 / 3 hours equals $900 PER HOUR.
MODEL # 2 – REMOTE PATIENT MONITORING
Now we haven’t even touched on Remote Patient Monitoring (RPM) yet…. through RPM, Medicare is reimbursing ~$63 per patient per month (for life of patient) but I will round it down to $60 for even numbers sake.
Let’s say you were only moonlighting and building your practice in your spare time and it took you an entire year to get 100 senior citizens enrolled in the RPM program (at no cost to the patient and no cost to the provider). That is 100 patients at $60 per month per patient for a total of $6,000 PER MONTH or $72,000 PER YEAR.
This is paid for the LIFE of the patient so if you enroll a patient once they turn 65 and they live until 75, that is 10 years of a residual income of almost 6 figures per year for doing nothing but referring them to us so we can set them up and you can monitor them.
Keep in mind that monitoring only consists of responding to the platform alert when something dramatic happens and a drastic change in the monitoring metrics occurs where you may have to send an ambulance to their home etc. You aren’t meeting or talking with the patient every day as once they are setup you’re basically on autopilot.
MODEL # 3 – COMBINE BOTH
You can combine both Models 1 and 2 and easily get into a six figure income, building up your practice with our help on a part time basis for a year.
To learn more about getting started with us today, click here or the button below.
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