How Financial Advisors Can Help Family Doctors Increase Their Investing

How Financial Advisors Can Help Family Doctors Increase Their Investing

How Financial Advisors Can Help Family Doctors Increase Their Investing

Healtheon Blog

Jul 2, 2024

Family doctors face a significant challenge: they are underpaid for the immense work and responsibility they shoulder, and their office expenses are constantly inflating. Consequently, there is often little left over for investment, and they have minimal control over the prices charged for the services provided. But now, there's a solution.

As a former family doctor with an MBA from Rotman and six years in investment banking, I understand the financial hurdles in the medical field. After editing two books on corporate finance and being mandated by the Ontario Government to structure an insurance exchange, I dedicated myself to finding a solution for family doctors' financial struggles. This led to the creation of Healtheon.

Healtheon addresses the financial problems experienced by family doctors by leveraging a 20-year practice of billing for uninsured services or block fees. Our AI-enabled SAAS platform enhances both the patient's and the doctor's experience, making clinic access easier through AI chatbots, self-scheduling, ticketing systems, and more. Patients receive enhanced administrative services, while doctors can add team-based care with nurses, physician assistants, clinical assistants, and nurse practitioners.

These elements—technology, enhanced administrative support, and team-based care—are all uninsured services not covered by provincial health plans. Patients are offered the option to enroll in a monthly subscription plan for these services, costing a reasonable $29.95 per person, comparable to everyday expenses like Starbucks or Uber.

The new subscription revenues dramatically improve the economics of a doctor's practice, creating a steady annuity. Doctors can adjust subscription pricing, transforming their practices into thriving businesses. Additionally, with team-based care, family doctors can likely double their billings from the province.

This combination of new subscription revenues and increased provincial billings allows financial advisors to invest surplus capital into long-term investments for family doctors. 

Healtheon is open for business and eager to assist financial advisors and their doctor clients in transforming the financial landscape of primary care.

If you’re a financial advisor looking to help your doctor clients maximize their investment potential, consider partnering with Healtheon. Together, we can revolutionize the economics of family practice.

For more information, visit healtheon.ca and see how we can support your goals.

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