Q: What is the business model of Vein Centers for Excellence?
A: We are the only management team in the industry that devotes 100% of our business to building successful vein practices. Our services are contracted by a Practice to meet their needs. We offer the “Whole Business Administrative Package” or selected business services that you specify. We are in partnership for the success of your vein practice, but we do NOT have ownership.
Q: Why can’t I build a vein practice on my own?
A: The simple answer is that you can. But the bottom line is that VCFE can help you do it better, and you will have the ability to realize higher returns than you could produce on your own…even when you factor in the costs of partnering with VCFE. We will substantially reduce your learning curve (saving you real money in terms of wasted time and expenditures), and the power of the VCFE team will get you top quality services at affordable rates, giving you direct access to expertise that a typical practice simply couldn’t afford to have in-house or through direct purchasing from individual providers. Given that all we do is help build vein practices, we have seen the painful experience of physicians who have attempted to venture out on their own. Most physicians don’t have the time or experience to successfully implement and operate all the major components that drive optimum success. And it’s a fact that no individual can be excellent at every aspect of setting up a practice.
Q: Is it possible to start a VCFE office within our current practice?
A: Yes. Some of our physicians opt to focus completely on treating veins; thus, giving up hospital privileges and being on-call. Others in our group opt to start within their current practice and perform vein procedures 1 or 2 days a week. VCFE can work with you at any level you choose. You can choose any single area of emphasis for VCFE help, or you can choose to let VCFE take care of absolutely all of your business and office functions, leaving you completely free to focus on patient care. The choice is up to you, and VCFE will help guide you to the best solutions for your particular needs.
Q: How long will it take to open our doors for business?
A: In most cases we will provide a complete implementation plan that will outline all of the steps necessary to open. We will set out specifically all of the information and responsibilities of both your practice and VCFE. That being said, if we receive information in a timely fashion, it is very feasible to complete build-out, acquire proper credentialing, set-up the network, implement advertising and complete all clinical and business training within 2- 2 ˝ months. If need be, we have advanced our implementation schedule to 1 ˝ months. We will work at whatever speed suits your practice.
Q: Do you expect that reimbursement from insurance and Medicare will be reduced?
A: Yes. However, the vein industry is different from many other types of medical practice. Experience shows that almost 100% of patients who have an initial evaluation will choose to have a given procedure whether insurance pays for it or not. We can then assist you with all the tools you’ll need to make it as easy as possible for patients to be able to afford your services, whether that be through quick approval financing, credit card payment, “twelve months same as cash” programs and submission of all claims to third party payers. VCFE continually educates the staff and surgeons at our centers to not make insurance the main issue. It is not unlike practices that provide plastic surgery…revenue is often coming directly from the patients. VCFE will help you make the necessary adjustments to this type of billing environment.
Q: What will happen to my malpractice rates if I decide to open a vein practice?
A: Traditionally, if you decide to open an in-office vein treatment clinic and forego performing procedures at the hospital, you should have a substantial reduction in your malpractice insurance.
Q: For insurance companies that are paying for Laser Ablation, what is the average reimbursement?
A: In very general
terms, the average reimbursement from private
insurance among our affiliate practices is
roughly $2,300.00 per laser ablation procedure; with additional procedures, the procedure package increases to $2,900. In regard to Medicare, the average reimbursement is roughly $1,400.00 per case, without the additional procedures. Note, these figures will vary from state to state and from carrier to carrier. Any payment for an ablation combined with a phlebectomy that is reimbursed less the $2,000.00 is automatically appealed by VCFE.
Q: How much will it cost to open a VCFE office, including all expenses?
A: Costs will vary from market to market, but whether you choose to partner with VCFE or not, we conservatively recommend that physicians who plan on starting from scratch have a $300,000 line of credit available. This amount is for equipment, furniture & fixtures, supplies and working capital for three months. Note: As a VCFE partner you will receive a complete pro forma whereby you will be able to estimate costs, revenue and overhead for years one, two and three. This business plan and projections will assist you in obtaining a line of credit. Our bank contacts are familiar with our model and we have a proven track record that aide your loan approval. Please note that these figures are estimates and will vary from market to market and will be dependent on whether you choose to open a new office or begin operating parallel practices in your existing office. All loan activity is governed by the banking institutions' rules and regulations and VCFE can not guarantee approvals.
Q: What does VCFE charge?
A: VCFE is paid based on a percentage of collections and a monthly fixed rated based upon the services the practice orders. An initial up-front fee may also apply, which again may vary dependent upon the level at which you choose to partner with VCFE. Please contact one of our representatives on the phone for an initial interview, and we can give you a quote based upon your specific needs.
Q: Can I choose only the services that I need and not be charged for the rest?
A: We recognize that some Practices do not need all of our services. For example an existing practice may only need our marketing and advertising assistance. We can contract for only this service. Other services that can be separated are Billing and Collections, or Technical Training. Please contact us for a quote for these separate services.
