A new, but old business model for family physicians: cash.
The following study is an exploratory investigation into the opportunity identification, opportunity analysis, and strategic implications of implementing a cash-only family physician practice. The current market dynamics (i.e., increasing insurance premiums, decreasing benefits, more regulations and paperwork, and cuts in federal and state programs) suggest that there is sufficient motivation for these practitioners to change their current business model. In-depth interviews were conducted with office managers and physicians of family physician practices. The results highlighted a variety of issues, including barriers to change, strategy issues, and opportunities/benefits. The implications include theory applications, strategic marketing applications, and managerial decision-making.
Stetson School of Business and Economics, Mercer University, Atlanta, Georgia 30341, USA. weber_jm@mercer.edu
J Michael
JM
Weber
D016520:Entrepreneurship; D005194:Family Practice / Q000191:economics*; D005260:Female; D005382:Financing, Personal / Q000379:methods*; D006801:Humans; D007349:Insurance, Health, Reimbursement; D008297:Male; D018803:Models, Economic; D011216:Practice Management, Medical / Q000191:economics*; D036301:Qualitative Research; D014481:United States