The Executive Suite: Adding an infusion center to your medical practice

Wednesday, September 4, 2024

Adding an infusion center to your medical practice

With the ever-evolving healthcare landscape, savvy physicians are increasingly seeking innovative ways to diversify their practice offerings and improve patient care. One such opportunity is the integration of an infusion center into an existing medical practice. Adding this new offering is a strategic move that comes with numerous benefits.When planned and executed correctly, you will improve the quality of care for your patients, experience significant new growth and ensure the financial stability and long-term success of your practice.

Benefits of integrating an infusion center

Infusion centers provide a range of intravenous therapies, including medications for chronic conditions, hydration therapy, and biologic treatments. Below, we explore the benefits of adding an infusion center and how it can become a valuable revenue stream for your practice.

Enhanced patient care

Your new infusion center will allow your patients to receive necessary intravenous treatments in a familiar and comfortable environment and will prevent wasted time travelling to an off-site infusion location.This new, convenient access provides a high level of continuity of care which can lead to better adherence to treatment plans, especially for patients with chronic conditions requiring regular infusions.Offering your patients this service in your practice also sets you up to provide a higher level of personalized care.

Financial advantages

Infusion services allow you to create a steady and substantial source of profitable revenue when offered, authorized, billed and collected appropriately.Revenue includes not only the drug itself, but administration of treatments.Utilizing existing office space allows you to keep costs down and any infusion services partner worth working with won’t charge you start-up or Infusion Suite setup fees, making this a very viable option for most practices.

The growing demand for outpatient infusion therapy creates an incredible opportunity for practices with significant revenue potential that can yield anywhere from $100k to over $1M annually.

Operational benefits

An in-house infusion center fosters better coordination of care, with seamless communication between the infusion team and the physician.By expanding the range of services offered, practices can attract new patients and retain existing ones who require infusion therapy.

Make sure to find a partner that provides solid operational support with things like assistance with obtaining insurance contracts and credentialing, copay assistance, managing regulatory requirements, hiring and staffing oversight, and access to experienced financial and billing services.Having that right partner will allow for a seamless integration, with minimal distraction to your already busy team.

Partnering for success

There are many companies that provide Infusion Suite development and management services.Start by asking for an initial assessment and plan, which will provide you insights into the potential benefits to your unique organization.Partnering with an experienced team who can provide turn-key solutions and wrap-around support will position you for a smooth start and long-term success.