Empowering Practices That Enhance Healing the Problem
In recent years, the issue of non-healing wounds has become increasingly prevalent, yet wound care has often been neglected in many practices. The challenges of administering traditional wound care programs, navigating compliance regulations, and dealing with expensive grafting products have made it difficult for practices to effectively treat patients with chronic wounds. Additionally, with the introduction of new Q codes for billing Medicare and commercial insurance, practices are facing even more complexity in managing wound care services. As a result, many practices are losing wound care patients to competitors and hospitals, while failing to capitalize on the potential revenue that wound care services can generate. It is clear that a new approach to wound care management is needed to address these challenges and ensure better outcomes for both patients and practices.
The Challenges
Non-Healing wounds
Wound care has been neglected over the years
Typical wound care programs are difficult to administer
Many practices have difficulty navigating compliance
Practices have had to inventory expensive grafting products
New Q codes for billing Medicare and commercial insurance
Practices losing wound care patients to competitors and hospitals
Practices not realizing significant wound care revenue
Our Solution
Introducing a revolutionary solution to the challenges of traditional wound care management: the turnkey wound care platform. This innovative approach offers a full-scale solution that includes products, training, compliance support, and billing services, allowing practices to seamlessly deliver advanced wound care without the need for upfront costs or inventorying of expensive products.
With this new platform, practices can now streamline the process by ordering products based on upcoming eligible patients or scheduling, eliminating the need to keep costly inventory on hand. Once grafts are applied, practices can easily bill Medicare and insurance for reimbursement, ensuring a smooth and efficient revenue cycle.
In this model, practices only pay for the cost of grafting after they have received reimbursement, eliminating financial risk and increasing profitability. This turnkey wound care platform offers a comprehensive solution to the challenges faced by practices, allowing them to focus on providing high-quality care to patients while maximizing revenue potential.
- Turnkey wound care platform
- Full scale: product, training, compliance and billing
- Seamlessly deliver advanced wound care
- No upfront costs or inventorying of product
- Practice orders based on upcoming eligible patients/schedule
- Once grafts are applied, practice bills for Medicare/Insurance
- Practice pays for the cost of grafting after reimbursement
The Market
This turnkey wound care platform is specifically marketed towards a wide range of patients with complex wound care needs. It is designed for individuals with documented non-healing wounds that are over 30 days old, as well as those with stage 2 wounds or higher. Additionally, the platform is ideal for post-MOH (Mohs micrographic surgery) patients, individuals with burn injuries, and patients residing in nursing homes or assisted living facilities.
Furthermore, this innovative solution is targeted toward diabetic patients who may be at a higher risk of developing chronic wounds that require specialized care. By catering to a diverse patient population with various wound care needs, this platform aims to provide comprehensive and effective treatment options for individuals in different healthcare settings. From our perspective, the value proposition of wound care is evident. Many practices face challenges with slim profit margins. Historically, the management of wound care drifted away from practices due to ineffective solutions. Previously, hospitals or dedicated wound care specialists handled graft placement. However, now with solutions tailored to other types of practices, they also can enhance patient care and utilize this unrealized revenue for growth, expansion, or operational relief.
Growth Strategy
Our strategy for practice expansion involves a strategic approach to identifying a select group of eligible wound care patients and implementing our comprehensive services on a sample group. By starting with a focused group, we can ensure the effectiveness and efficiency of our platform before scaling it across a larger patient population.
As we successfully implement our turnkey wound care services on this initial sample group, we plan to gradually scale our services across a wider patient population. This approach will allow us to refine and optimize our platform while ensuring that all patients receive the highest quality of care.
Furthermore, our growth strategy includes expanding our services to multiple practice groups, enabling us to reach a broader network of healthcare providers and patients. By scaling our turnkey wound care platform across various practice groups, we aim to maximize the impact of our innovative solution and improve outcomes for a larger patient population.
