The Business Side of Stem Cell Procedures
2 Pages
English
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The Business Side of Stem Cell Procedures

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Learn all about the services we offer
2 Pages
English

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https://advancedregenmedinstitute.com/ - Speaking about medicine as a business is unpalatable for a lot of people. There are entire segments of our society that look on healthcare and medicine as a right, regardless of how much it costs to provide. Yet irrespective of where any one of us stands on the issue, one thing is clear: medical care is never free. Someone has to pay for it.

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Published 25 July 2017
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Language English

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The Business Side of Stem Cell Procedures Speaking about medicine as a business is unpalatable for a lot of people. There are entire segments of our society that look on healthcare and medicine as a right, regardless of how much it costs to provide. Yet irrespective of where any one of us stands on the issue, one thing is clear: medical care is never free. Someone has to pay for it.
The other side of that coin is that those who provide medicine and healthcare have to be paid for their services. Doctors still have their own bills to pay. Nurses have to put food on the table and medical device makers have to keep the lights on and the manufacturing processes moving. The reality is that medicine does have its business side. More importantly, that business side cannot be ignored without impacting quality of care. It is in this light that Utah-basedAdvanced Regenerative Medicine Institute(ARMI) often presents its PRP and stem cell training for doctors. The company offers numerous one- and two-day training courses at various locations around the country, at different times of the year. Doctors not only learn about the actual PRP and stem cell procedures they will be performing, but they also learn about the business aspects of adding the procedures to their practices. Regenerative Medicine as a Revenue Generator PRP (platelet-rich plasma) and stem cell therapies are two therapies that fall under the banner of regenerative medicine. ARMI often invites doctors to participate in training by presenting regenerative medicine as a revenue generator. Again, one cannot ignore the business side of medicine especially for individual practices that struggle under the weight of insurance company standards and government regulations. Private practice owners tend to benefit the most from the revenue-generating aspects of regenerative medicine. For example, there are very few insurance companies in America willing to cover PRP or stem cell injections except under very limited circumstances. That leaves the vast majority of patients to pay for them out of pocket. Now, you might be tempted to believe this would have a negative impact on demand. But it is actually quite the opposite. Patients are willing to pay for PRP and stem cell therapies themselves because they believe in the benefits thereof. I n terms of generating revenue, the procedures are offered as 'cash and carry'. The doctor receives the full value of the services rendered rather than a lower reimbursement rate that would otherwise be offered by an insurance company. That makes regenerative medicine more profitable on a per-visit basis.
Regenerative Medicine as a Money Saver There are two aspects to the business side of medicine. The first is the revenue generation aspect we just talked about. The second is the money-saving aspect. Saving is just as important when you are talking the total cost of healthcare to the individual patient. It may cost a patient several thousand dollars to undergo a series of stem cell treatments for an orthopedic injury. But the cost of surgery would easily be many times greater. By electing stem cell therapy, the patient is not spending as much money on recovery. His or her decision lowers the cost of healthcare in the most direct way possible. There are other, less noticeable financial impacts of regenerative medicine that cannot be discussed here for lack of space. The main takeaway is this: there is a business side to medicine that is just as important as the actual procedures doctors used to help patients get well. Regenerative medicine has to be looked at in light of its financial benefits if it is ever to become mainstream.