Ep. 29: The journey from an insurance based practice to direct pay with Dr Erik Korzen
This episode of Surviving Healthcare features an interesting conversation about one physician’s journey to open his own direct-pay practice after being in an insurance based practice. My guest for this episode is Dr. Erik Korzen, a chiropractic physician at Dynamic Physical Health, who also teaches Human Anatomy and Human Physiology at Wheaton College and the National University of Health Sciences. Dr. Korzen prides himself on taking an evidence-based approach to health care.
Our discussion begins with an explanation of how Dr. Korzen decided to become a physician in the first place, including his thought processes at the time he decided to become a physician when he was an undergrad studying physical therapy. You’ll hear him explain what that caused him to switch and go to chiropractic school. He then talks about the progression of his career, from working as a doctor in a chiropractic practice to starting his own direct-pay practice.
You’ll hear his experience working in an insurance based practice with the focus on quantity rather than quality. Dr. Korzen discusses what drove him to open his own practice and use a direct-pay model. He also talks to me about how he was able to set up a successful practice despite the fact that he had no previous business experience, which is fascinating. He was able to create a model in which the business side takes a back seat to patient care, and how he got there is a great story.
The discussion then turns to how he deals with patients and prepares them for the experience of dealing with a doctor on a cash basis, and his policies on dealing with patients on the business end. You’ll hear about the barriers that he had to overcome when setting up his own practice.
Dr. Korzen then talks about his unconventional and interesting choices regarding marketing. He explains his choice of practice location and why it has been a strategic dream, for him and his patients. We then turn to the implications of being a “cash-only” practice, and how he communicates that to the patients who rely primarily on insurance to pay for their medical care.
Overall, this discussion is a great one for anyone who is considering opening up their own practice, with a lot of great and useful information, and I hope you enjoy it and find it useful.
Resources:
drkorzen@dynamicphysicalhealth.com