Ten Risks adding ancillary services to a practice.
- Licensure risk- is billing under your NPI?
- Scope of practice risk is a state board disallowing a pcp to say, perform oncology services. Insurers denying claims, same reasoning.
- Billing risk-when payor relationships are disrupted or
- Chargeback risk-you are suddenly fighting recoupment.
- Clinical risk involves understanding any potential side effects.
- Capital risk. Up front and ongoing obligations.
- Staffing risk. MAs turnover. You can’t bill unless they’re quickly replaced.
- Referral risk internally -you may face be in able to refer people internally to your own services, and losing patients once you refer them to external services.
- Operational risk- is your day to day affected ?
- Financial risk- are you borrowing or leasing ? This affects your credit and capacity to borrow tomorrow.
Any ancillary you add or hire as a third party should address these clearly with you.
Ancillaries are THE only answer for PCP burnout, shortages and an antidote to factory medicine or a forced sale.