Establishing and Enhancing Your New Vascular Practice
Perhaps you’ve spent an adequate amount of time providing services and performing procedures in a hospital setting, or perhaps you’ve been working in others’ private practices since your fellowship and you’re simply ready to take on the next challenge.
In any case, should you see your own vascular practice on the horizon, we want to applaud you for your commitment and provide you with information prior to the beginning of the process.
As you plan and strategize the fine details of your business, here are some ideas to consider…
The Fundamentals of Your Practice
Once you’ve successfully completed the licensing and accreditation process, you’ll likely be ready and eager to embark on the more comprehensive journey of actually establishing your practice — as well as its reputation.
Thus, aside from securing a location, the first step in your journey will always involve cultivating a team of caring and like-minded professionals — from your administrative leaders to nurses and more.
For example, an article published by Healio specifies that “patients with critical limb ischemia will be the ‘bread and butter’ of most vascular practices,” making it critical to have wound care specialists — including radiologists, podiatrists, and more — integrated into your team.
Otherwise, once you have the ball rolling on your practice’s internal team, we recommend shifting your focus outward in order to build relationships in your community.
“It is easy to sign a contract, but it is much more difficult to establish a practice that encourages patient referrals,” according to Endovascular Today. For this reason, acquainting yourself with medical colleagues in your local area will not only help you build trust and a positive reputation, but will also provide you with the opportunity to gain referrals across a number of medical disciplines.
Finally, ensuring your practice remains up-to-date regarding current market standards and expectations will be critical in ensuring future expansion.
The Implementation of an OBL
One increasingly-common example of vascular practice expansion is that of the office-based lab, or OBL, for optimal outpatient care.
“Within the last [five] years, the proliferation of hybrid models has been the major outpatient improvement,” the Cath Lab Digest reports, emphasizing the continued growth of OBLs within vascular practices.
That is to say, outpatient care and patient satisfaction have recently increased as a result of OBL implementation. Not only can it provide patients with enhanced service and a lower cost in comparison to hospital-based treatment, but it also allows you, as the physician, to increase your revenue stream while also lowering your patients’ risk for long-term complications.
“The vascular lab has become an integral extension of the physical examination, offers an excellent modality of non-invasive testing, and validates the scientific basis for vascular surgery,” according to the Society for Vascular Surgery. “Moreover, the non-invasive vascular laboratory can significantly supplement revenue for a vascular practice.”
Thus, in establishing your vascular practice, we encourage you to consider integrating a hybrid OBL model as a means of immediate enhancement.
Finding the Right Support Network
We understand that building a new vascular practice from the ground up may feel daunting, particularly as it involves many moving parts. From choosing your location to managing the center and marketing your brand identity, you may worry that the administrative duties of owning a business will only take your precious time away from patients.
But that’s where American Vascular Associates comes in.
Our company is the nation’s fourth-largest network of vascular labs and management services, and our vision is to take the burden of business off the provider in order to enhance their ability to provide superior healthcare.
By providing you with sustainable and innovative solutions — such as with center management, revenue cycle management, IT assistance, and more — we aim to support your center and enhance your patients’ experiences. If you have further questions or are ready to begin the process of joining the AVA network, simply contact our corporate office today by calling (877) 685-3281!