If you have had a hard time increasing your revenue lately because you don't have time to add more patients to your day or you just don't know what else to do differently you might want to consider focusing on the Medicare Annual Wellness Visit.
The Medicare Annual Wellness Visit is available to anyone with Medicare and is an annual visit completely covered by Medicare. It is not a physical exam but instead has more in common with the "Welcome to Medicare" visit. 70% of Medicare beneficiaries live with one or more chronic conditions which can be delayed or prevented by lifestyle modifications. The Annual Wellness visit is intended to keep Medicare beneficiaries healthy or promote a health lifestyle through a personalized care plan.
The amount of revenue you can generate from focusing on this visit is substantial. In order to encourage usage, Medicare has established a reimbursement of approximately $171 for the initial AWV which is nearly 300% more than the average office visit. Because the wellness visit will identify additional tests needed, the actual amount of revenue you can generate from providing the Annual Wellness Visit is likely to exceed that $171 and it is not uncommon for a 20 minute wellness visit to result in a $300-$400 increase in revenue for that visit.
If you want to know more about the Annual Wellness Visit and how you can start providing this to your Medicare patients, register for our 45 minute free live webinar with Dr. Averel Snyder on July 18th at 11:30am CST / 12:30pm EST.