Working Capital, Patient Care: Nerve Conduction Velocity: Benefits and Detail

Published on August 2, 2018

Working Capital, Patient Care: Nerve Conduction Velocity: Benefits and Detail

Summary: Many physician ask us about working capital and loans. In many cases, the solution is right in front of them. Below is a summary of NCV testing which provides both, enhanced patient care, assuring better outcomes and increased working capital for the medical practice.

Patient Benefits:

  • Convenience: Patient stays right within the comfort zone of your practice with familiar location and office.
  • Timely: Patient is scheduled for test in days (not months) so their pain can be addressed more quickly.
  • Friendly & professional testing technician: Our certified technicians are professional, and patient focused.
  • Rigorous report: Tests are read board-certified neurologist and provide an extensive report in 2-3 days.
  • Continuity of Care: As insurance guidelines dictate, the patient may be tested every 6 months while the condition being treated remains. Ongoing testing will allow doctors to track the progress of the complaint and/or treatment to determine if it is improving or worsening.
  • Therapy support: Reports verify and define the need for the treatment plan – including physical therapy.
  • Patient out-of-pocket: Given the number of patients on high-deductible plans combined with the fact that 40% of Americans are unable to cover an unexpected expense of $400 or more, co-pays and deductibles can be a major problem for many. Depending on the billing model chosen by the practice, the patient’s co-pay can be zero to minimal. (see page 2)

Physician Benefits:

  • Patient Care and Control: Physicians maintain supervision of patient care for better Continuity of Care.
  • Quickly confirm or alter your patient’s treatment plan as needed. Testing corroborates injuries and, therefore, confirms medical necessity. This validates your CPT code.
  • Extensive reports on patient so that treatment plans are defined or modified in a timely fashion.

 Practice Benefits:

  • Liability: Solid documentation to support treatment plans and verify patient outcomes and progress.
  • Revenue: Allows practice to capture more potential patient revenue which can result either in re-investment into the practice and/or net income to the shareholders.
  • Patient referrals: In-house diagnostics sets your practice above others. This positive patient experience leads to their referrals of other patients within their center of influence.

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