Online interview from Nurseup.com with Dr. Goins, CEO of Couture Health Care limited.
Q: What is your #1 hold back building your business?
A: The current challenge is growing the practice and expanding my panel of clients/patients. I am only taking a limited number and concierge retainers are a contract between both client and provider. We both invest in the relationship for the best outcomes.
Each stage of your company is another step. Couture Health Care limited has had several major advertising campaigns going on at once. Branding the name has been one of the key elements. Getting the name and service out there was another. This concept is a combo of ideas and needed to be introduced. So one campaign was getting the name out there. Over the last several months, the Couture Health Care limited brand was introduced to over 128,000 homes in the Cincinnati area. Each time the ad has been changed on feedback and re-introduced.
The second wave and ongoing current with the first has been several articles and speaking engagements in the same area.
Q: Did you think that getting on a local speakers bureau and talking to local groups was helpful?
A: Yes and no. There has been a huge push to kill off newspapers and media that normally would show up on door steps. Even insurance companies have gone to directly advertising to the client to get their message even looked at when before that was not a problem. Same with drug companies. Going via TV at prime times that their demographics are watching...well they hope. Most of them might be in the bathroom.
Q: Did you feel that social media, like Facebook, was helpful in getting the word out?
A: Provided the Facebook algorithm will let your post go out. Using the word "congratulations" a lot will help get the word out but Mark (CEO of Facebook) got pissed over this one when a congratulations post was getting more hits than his families’ birth announcement was. I believed the math algorithm tweaked again after that.
Q: How dose insurance vs cash pay work?
A: Getting patients/clients to understand that the compensation allows the lights and doors to remain open is the other key point. Insurance tends to get folks to think that the care is free since there is no exchange of money. They often assume that the insurance is paying 100% of everything. Often co-pays are the only real money a provider will see for months. Then when the money does arrive it often does not pay the entire bill. The provider has to either eat the cost or bill for the remainder.
I have heard more than one story of folks, who come home from the hospital, to see what their provider was paid and horrified that the insurance company didn't pay what they thought was fair. I have heard of two folks calling up their provider to offer to pay more. Now the problem is depending on the contract, the provider cannot take cash when the insurance has deemed it paid.
Q: So the lack of getting insurance to pay in a timely manner is a problem?
A: Yes, waiting for insurance to reimburse providers three months later is a problem. As a business, this is why folks have to close their doors.
Q: Now Nurse Practitioners salaries are lower than Physicians. Why is this?
A: Asking for the check is huge. This also involves negotiating for salary wages. This is why there is such diversity in wages because there are those who ask and those who won't. Another reason there is no consistency in pay or incomes. When breaking down what a coded visit cost in relationship to what a cash/carry visit cost is a real eye opener for many providers and nurses.
Q: So, this is a learning process and is it taught in school?
A: I agree that nurses need to learn the process. Academic education often leaves this out of the schooling. A good mentor or co-worker is often the source of the information if education is not earned by the University of Hard Knocks. Accreditation with this university is subjective too.
Mission Statement: "Couturing individual patient's/client's