There is currently a lot of discussion in online forums regarding recent changes to the health fund coverage of some allied health services in Australia.
The changes particularly apply to some health funds stopping rebates for natural therapies such as Aromatherapy ,Bowen therapy, Homeopathy, Naturopathy, Tai Chi and Yoga – as well as changes to the rebates for Pilates sessions.
Now as expected – this has sent many health business owners into a tizz – especially those delivering the services listed above.
However, as I commented in some of the forums – there is a bigger lesson here for all of health business owners.
Don’t let other people control your business and business model.
I learnt many years ago how important it is to beware of any business or business model where another company or entity has any control over your fees, pricing or out of pocket expenses for your clients.
Health business owners need to ensure you have a strong enough and unique enough stand alone product – that cannot and will not be impacted by changes in rebates, health funds of third party payers.
The reduction in rebates and limiting services is a trend that will continue as all payers tighten up their purse strings – take action now to limit any impact on your business – stand out from the competition and make price a non issue.
We have already seen from the experiences of our colleagues in the USA and the UK – how vulnerable some health businesses are – when insurance companies make changes to their rebate structure.
I urge all health business owners to see the writing on the wall and take action now to minimize the impact of these changes – because these reductions are only going to expand and impact more services over time.
You need to develop unique programs that serve a definite and tightly targeted niche.
Develop great marketing campaigns that demonstrate your high level of expertise and skills.
Essentially – you need to position your business as the only obvious solution to your ideal clients problem.
Then and only then – does the issue of price, health funds, and rebates – become irrelevant.
I hope this help you in your health business
World Physiotherapy and Physical Therapy Business Success Summit
In late February 2019 I will once again be hosting the World Physiotherapy and Physical Therapy Business Success Summit.
This incredible 5 Day online event – featuring over 20 of the worlds leading health business experts – will give you access to the best health business tips and strategies on the planet.
I have also added some extra speakers to this years event – so keep an eye out for these new experts and superstars in my coming posts and messages.
Best of all it will be FREE to register.
You can pre- register your interest at the link below: