So the squeeze is being created to do more to attract patients to your clinics but to find ways to do it at lower and lower costs since reimbursements are shrinking.
The winners are finding ways to leverage technology PLUS scale to drive their costs down all the while maintaining excellent levels of patient satisfaction.
This is accelerating the industries’ Consolidation Market, similar to what the box pharmacy industry went through. Before long there may only be a few “Walgreens” and “CVS”s of the urgent care market left before it stabilizes into a mature market.
What’s different with the urgent care market though, is that we now have powerful technology that can drive down costs so significantly that even smaller 1-15 clinic companies can compete with the larger firms.
One technology to get excited about if you’re looking to survive the consolidating market, is the AI provider. It is cutting costs for urgent care companies by $200k – $400k/year in each clinic the company owns and operates. For urgent care companies with multiple clinics, we are talking about some serious upside!
Right now, there is only one front runner leading the pack of AI provider software. The technology firm is called The Lilly Project and they are out of Dallas, TX.
I had a chance to sit down with them over the holidays and learn more about the incredible progress they’ve been making in this new niche which is rapidly becoming a necessary staple in the urgent care technology stack.
Watch the webinar as I discuss with their founder and CEO on how the technology works, how it saves urgent care companies so much money, and we even discuss pricing. You can also read a short snippet below to learn the what and how before watching the webinar and demo.
From the Lilly Project’s Director of Business Development:
How does it work? Upon arriving at your clinic, the patient will be handed an iPad where they will begin their encounter immediately. Our program will check your patient in with instant insurance pre-authorization, conduct a dynamic medical history, order diagnostic tests for the MA to perform, and then interpret the results of those tests ultimately putting together a diagnosis and treatment plan for your provider to review. Your provider will review the recommended plan and then meet with the patient as they normally do. After meeting with the patient, your provider will then revise or approve the initial diagnosis and treatment plan. Your provider is then finished and ready to see the next patient. Our software takes care of the rest: we finalize all documentation, e-prescribe any medication your provider ordered, and lastly handle all your billing needs.
Interested to hear more? Please reach out to the Director of Business Development, J.J. Coulter, to schedule a time to review. His email is JJCoulter@thelillyproject.com.