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Posts Tagged ‘health insurance’

Workers Compensation, Your Company & Unlimited Chiropractic Care

Posted by Marietta chiropractor on September 10, 2012

I have NEVER liked Workers Compensation as a chiropractor or a business owner.  However, I do realize that workplace injuries do happen and there should be some form of compensation for medical bills and income lost due to injuries caused simply by the nature of the job.  Anything that sets up an adversarial relationship between employee and employer can never be a good thing.

As a chiropractor, the concept of being a Workers Compensation provider has become extremely repugnant.  Granted, lots of folks do hurt their backs while at work and chiropractic care CAN help them recover and get back to work.  However, as has become the case with most forms of third party reimbursement, Workers Compensation has become a source of easy money for many in my profession.  It’s also created an environment that has brought some ill-repute to chiropractic.  Even though the cost of chiropractic care is well below the cost of back surgery and extensive physical therapy and rehab, it has gotten to the point where many states are making it difficult for chiropractors to even participate in Workers Compensation programs.

While chiropractors on one end of the spectrum have milked the third party cow just about dry, there is another group of chiropractors that companies ought to consider as part of its benefits and risk management team.  These chiropractors offer what has become known as chiropractic membership practices.  A chiropractic membership practice provides unlimited chiropractic care at a fixed fee usually over a specific period of time, typically for a year.  The program is designed for lifetime wellness care, though.

The membership practitioner works from a performance perspective.  Their objective is simply to take stress off the nervous system so folks can move toward their greatest potential at work, at home and at life in general.  When this happens, people are more rested, alert and less stressed.  What this means at work less time missed from work due to illness, injury or family trips to the medical doctor.  What this means to the employer is fewer Workers Com claims, fewer health insurance claims, improved morale and more productivity.  And, we all know that fewer Workers Comp and health insurance claims means lower premiums and eventually a better bottom line.

In my next blog, I’ll show you ways your company can use a chiropractic membership practice for your company and employees.

Posted in Alternative health care, Blogroll, Business, Chiropractic, Economics, Entrepreneurs, Ethics, Finance, Health care, health insurance, Health Issues, Insurance, Small Business, wellness | Tagged: , , , , , , , , , , , | 2 Comments »

Price Elasticity and the New Chiropractic Reality

Posted by Marietta chiropractor on August 24, 2012

I love Economics, often called “The Dismal Science”.  The short definition of Economics is that it’s the study of the allocation of scarce resources.  Like many things in Economics, scarcity is a relative terms.  Tow of the great caveats in Economics is “What if” and “it depends”.  In other words, Economics really is a study of behavior as it relates to stuff.  Stuff like money and the stuff we substitute for money.

Since entering the world of healthcare (specifically Chiropractic) over 20 years ago, I’ve watched with great interest the games providers play with Economics and how really naive the healthcare business is when it comes to the Dismal Science.  It’s really amazing, too, how ignorant lawmakers, regulators and administrators are about the economics of healthcare, too.  But, I’ll focus on Chiropractic in order to keep my interest high and this article short.

We all know about Economics’ Law of Supply and Demand.  We also understand that the greater the demand for a given product or service at a given level of supply, the higher the price of that good or service.  Further, we know that given a certain level of demand the quantity supplied can affect the price of a product or service.  There is an additional concept within the Law of Supply and Demand called “elasticity”, which basically is how widely supply and demand changes given changes in the price of a product or service.

OK.  Enough background.  What I want you to see are the dramatic changes facing the chiropractic profession because of the Law of Supply and Demand and the Price Elasticity of Demand for chiropractic services.  Over the last 30 years, chiropractors have benefited (?) from relative parity with other health professions when it came to 3rd party reimbursements like health insurance and Medicare.  Prior to that, chiropractors were paid directly by consumers of their service.  As a result, fees were relatively low.  After “insurance parity” chiropractic bills skyrocketed.  For the longest time, the chiropractors’ bills were rarely questioned.  And as long as patients were required to pay little or nothing out-of-pocket, they flocked to chiropractors’ offices and everybody was happy.

Eventually, the profession began to choke the goose with the golden egg.  Managed care came on the scene and the scrutiny of chiropractic bills began.  Deductibles and copays started increasing.  In other words, patients were being required to take cash out of their pocket to pay for a portion of their chiropractic care.  At that time, we began to see serious competition among chiropractors themselves but also with physical therapists and MDs..  It seems that MDs could bill greater amounts with fewer out-of-pocket requirements than the chiropractors.

Chiropractors found that even the slightest increase in out-of-pocket expense caused a drop-off in consumer demand for chiropractic services.  So, the natural response was for the chiropractor to waive out-of-pocket costs or NOPE, no out of pocket expense.  Problem was, that tactic was deemed illegal under fraud statutes. Chiropractors started going to jail NOT in righteous protests but for fraud.

The next response by the profession was “exhaustion of benefits”.  Under this approach, a care plan would be rendered based partly on what a person’s insurance coverage was.  The amount covered would be subtracted from the calculated cost of the care plan at the doctor’s per visit rate (including covered therapy modalities) and the balance either paid up front with a discount or spread over the life of the care plan.  This approach has come under great scrutiny by both legal and regulatory authorities.  Hopefully, this practice is almost gone.

But, the history of chiropractic economics has shown that the Price Elasticity of Demand is very significant.  this just means that even though chiropractors had been paid very well for at least a couple of decades, that income was the result of creative billing and lax  oversight by 3rd party payors and NOT because they competed directly for consumers on a cash basis.  Over that time, chiropractors began to equate their value with their gross income instead of the REAL demand for chiropractic services by the cash paying customer.  Many of those same practitioners have been teaching chiropractic students over the last decade or two that there is no price competition and that they should expect (even demand) a high level of reimbursement.

The sad reality is that insurance coverage for chiropractic services is almost gone in America.  Chiropractors are now in an environment where they must compete with each other for clients but with alternatives that may still be receiving some 3rd party payments while the DC is not.  In other words, there a lots of chiropractors charging rates based on what used to be paid by someone OTHER than their patient.  And as we all know, no one spends their own money like they’d spend someone else’s.

So, what we have in chiropractic now are thousands of recently graduated chiropractors who entered school to become a doctor who didn’t have to work hard while making lots of money entering a market where there is little or no 3rd party pay and an economy where people are squeezing every penny out of every dime just to make ends meet.

The new economic realities of the chiropractic profession are that students owe at least twice (in student loans) what they can expect to earn in a year.  The average income for chiropractors is falling as is the average fee for service.

Today’s chiropractor is ill-equipped to face the new market realities.  He/she must become excellent marketers, well versed in public speaking, one-on-one selling, social and business networking and business management.  They will work in smaller offices with lower overhead, smaller staff, lower incomes and lower fees.  The competition for the old reliable NMS conditions will be hard to wrench from the hands of orthopedists and physical therapists.  They will be forced to improvise their approach or seek other careers, like teaching Biology at the local middle or high school.  Not exactly what they borrowed $200,000 to end up doing.

The new reality is that chiropractors will almost be forced to narrow their scope like chiropractors of old, offer fee systems that are reasonable for most individuals and families to pay out of pocket and to sell chiropractic like BJ Palmer did in his time and Sid Williams in his.  As for me, I am glad to see this change coming.  But, I don’t think my profession and its system of learning and regulation are.  I guess time will tell.

 

 

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The Membership Practice: Walmart and Unlimited Chiropractic Care

Posted by Marietta chiropractor on January 17, 2011

Some people just don’t like Walmart.  But, LOTS of people obviously DO like Walmart.  In fact, in less than 50 years Walmart has become the largest corporation in the world.

Walmart is the world’s largest corporation for one reason, value.  Sam Walton’s little business became a BIG business because their prices were just a shade lower than their competition’s.  As a result, the average American family shops at Walmart EVERY week for the typical stuff you could buy at any grocery store or hardware store or clothing store.  Granted, no one goes to Walmart for specialty items or designer clothing.

While the typical prejudice is that Walmart serves only low-income families, actual research shows that the retailer has a growing high-income clientele that shops there for their store brand items for even greater savings.  In other words, intelligent, informed consumers shop there to save money on items they purchase on a routine basis where name brands are not necessary and the saving sis appreciated.

Which brings me to The Membership Practice, a concept in chiropractic that provides individuals and families with access to chiropractic care at affordable fees without the need for insurance.  In fact The Membership Practice model offers unlimited chiropractic care at a low monthly fee deducted from your credit/debit card.  The business model is based on long-term maintenance and wellness care.  The assumption is that the average user of wellness-based chiropractic care will get checked an average of once a week.  At Langley Chiropractic Office (in Marietta, GA) the monthly fee is $69 for an individual and $129 for an entire family.

While some practitioners complain that the fees is too low and cheapens the profession’s image, my response is “baloney!”.  The concept actually enables chiropractors to help more people get the regular care that helps families stay healthy and out of the doctor’s office.  Fewer trips to the doctor’s office means money saved that can go to other needs the family may have like vacation, retirement, braces, etc.  Just like Walmart’s new slogan ““Saving people money so they can live better lives”, The Membership Practice aims to lower the barriers to families having affordable access to routine chiropractic care anywhere in the United States.

Heck, I can even see The Membership Practice in all 6000 or so Walmart stores across America!  What a great deal for Walmart, chiropractors and the public.  Imagine getting the family adjusted once a week when they go to Walmart or 500-1000 new customers going shopping at Walmart when they go for their weekly adjustments. Imagine 12-15,000 fully employed chiropractors earning a good living as they adjust hundreds or thousands of folks each week.  And, imagine the money and lives saved because of the number of Americans taking fewer drugs and making fewer visits to the doctor’s office because of their new-found health.

The vision of The Membership Practice is that every man, woman and child in America has access to quality, affordable chiropractic care.  Insurance is hardly affordable for chiropractic care these days.  IF the average American is to have ready access to regular chiropractic care, it is imperative that the profession find ways to make it available.  And honestly, I’ve always believed the free market is where the solution to rising health care costs would be found.

Look for The Membership Practice near you.  If you don’t have one, let me know.  I’ll help you find one.  And, maybe one day you’ll even find them in your local Walmart store.

Posted in Alternative health care, Blogroll, Business, Chiropractic, Economics, Entrepreneurs, Ethics, Finance, Fitness, Health care, health insurance, Health Issues, Insurance, Life, motivational, self help, vaccination, Weight loss, wellness | Tagged: , , , , , , , , , , , , , | 11 Comments »

The Membership Practice: What are the benefits for the practitioner?

Posted by Marietta chiropractor on October 20, 2010

What are the benefits of The Membership Practice for the practitioner?

  • Revenue stability,
  • congruity of practice,
  • improved “compliance”,
  • better results,
  • eliminates “sales pitch” aspect of your recommendations,
  • better planning,
  • no insurance paperwork or hassle,
  • lower overhead,
  • simplifies practice,
  • increased credibility,
  • increases loyalty,
  • consumer friendly,
  • Principled.

What are some other benefits that you can think of?

Posted in Alternative health care, Blogroll, Business, Chiropractic, Economics, Ethics, Finance, Health care, health insurance, Health Issues, Insurance, vaccination, wellness | Tagged: , , , , , , , , , , , | 2 Comments »

All You Can Eat Chiropractic

Posted by Marietta chiropractor on August 10, 2010

Have you noticed the number of all-you-can-eat restaurants popping up all over the place?  You’d think the quality of food would be (let’s say) lacking.  In most places, though, the quality of food is pretty good while staying fresh and hot.  Oh yeah, those places always seem to be busy!

What would happen if your chiropractor (or other healthcare provider) offered a limited number of services and a reasonable (even low) price for unlimited care?  Here’s what.  You’d get better, more focused care in less time at a great value.  The other thing that would happen is that you’d see your chiropractor more often because you CAN!  Oh yeah, you’d experience the long-term benefits of regular adjustments, too!

It’s time for chiropractors (and ALL health providers) to take a second look at how they offer their services and be more transparent with their clientele.  The day of hiding behind their white coat and insurance reimbursement are all but gone.  Adapt or die.

Posted in Alternative health care, Blogroll, Business, Chiropractic, Entrepreneurs, Ethics, Finance, Fitness, Health care, health insurance, Health Issues, Insurance, Other Advocacy Blogs, Politics, vaccination, wellness | Tagged: , , , , , , , , , , | 2 Comments »

My Chiropractic Blue Ocean Strategy

Posted by Marietta chiropractor on May 3, 2010

One of my favorite business books is Blue Ocean Strategy by W. Chan Kim.  In the book, Kim relates marketing products to the competition for fish in the shallow waters near the shore.  You’ve got fishermen and predators churning the waters for a limited supply of easy prey.  So what happens is that competition is stiff and eventually the sharks begin to attack and prey on themselves.  However, as you go further out to deep waters (the blue ocean) the supply is plentiful and the competition almost non-existent.  My profession, chiropractic, is like that, too.

Business is alot like that, too.  Especially in my profession where we have somewhere between 50-60,000 chiropractors competing for 7-10% of the population who regularly use chiropractors for back pain and neuromuscular problems.  Further still, chiropractors (as a profession) has tried to fit itself within a traditional allopathic approach to healthcare, dependent on third party reimbursement systems like insurance, personal injury, Workman’s Compensation and Medicare/Medicaid.  In so doing, they ensured that their competition is expanded to orthopedists, neurologists, physical therapists and even massage therapists.  Needless to say, the waters get chummed up pretty badly leaving lots of wounded practitioners, causing many to leave the profession altogether.

However, chiropractic in its founding was not as much a specific cure for anything.  Instead, it’s power was in removing a major source of interference in the proper function of the nervous system, THE master control system for your entire body.  When this interference is reduced, you simply function better.  You perceive your environment more clearly.  Your body perceives itself better.  You function at a higher level in every aspect of your life.  When that happens, you’re healthier, happier and simply are living life closer to your God-given potential.

So from my perspective, by staying in the shallow water of back pain and neuromuscular conditions, chiropractors confine themselves to selling you based on your weakness instead of your power.  Their marketing strategies are designed more to scare you into their offices instead of inspiring you into your own health and personal power.  Fee systems are based on what your insurance company will pay, which in many cases includes added charges for a variety of outside modalities.  So instead of a fee system that allows you to include chiropractic care as part of a lifestyle choice for you and your family, you get billed as much as possible for the limited number of visits allowed by your insurance carrier.

In the chiropractic blue ocean, people seek out the chiropractor to help them and their family feel better, work better and live better.  Just like the long term benefits of exercise, you are healthier and feel better.  You no longer need to go to your MD as much simply because you don’t get sick or hurt nearly as often.  You don’t think twice about your regular visits to the chiropractor because it’s just part of what you do.  Further, this new strategy includes a fee system that is based on lifetime wellness care instead of short term crisis care.  Somewhat like your health club membership, it rewards you for regular use both in financial and health benefits.  In my office, that fee is an annual fee that is less than your typical out-of-pocket costs with a standard health insurance policy.

One of the prejudices some people have about us chiropractors is that we want you to keep coming for the rest of your life.  OF COURSE WE DO!  We want you to enjoy your life, ALL OF IT from now on!

One of my mentors often asked “What is your profession?  What do you profess?”  I profess wellness and wholeness.  My fees are merely an extension of my profession.  I am neither a medical doctor or physical therapist.  I AM a chiropractor that helps you get the most out of your life for the rest of your life.  There’s room out here in the deep water to swim and play without fear of being eaten by the sharks.  Come on out!



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Posted in Alternative health care, Blogroll, Business, Chiropractic, Economics, Entrepreneurs, Ethics, Finance, Fitness, Health care, health insurance, Health Issues, Insurance, wellness | Tagged: , , , , , , , , , , , , , , , | Leave a Comment »

Introducing The Membership Practice

Posted by Marietta chiropractor on January 19, 2010

Posted in Alternative health care, Blogroll, Business, Chiropractic, Economics, Entrepreneurs, Ethics, Fitness, Health care, health insurance, Health Issues, Insurance, Real Estate, Small Business, wellness | Tagged: , , , , , , , , | 1 Comment »

Chiropractic: Truth in Advertising

Posted by Marietta chiropractor on June 5, 2009

When I heard the call to become a chiropractor, it was NOT necessarily to fix backaches and strains. It was because I had seen lives literally saved, or at least changed, after all hope had been lost pursuing traditional approaches to their problem.  One in particular was a little girl who had suffered from seizures her entire life.

That little girl NEVER suffered a backache.  But, she DID suffer.  Her mother had NO INSURANCE.  And if she had to pay the same fee that folks with insurance coverage paid, she simply could not have afforded the care.  But, her chiropractor had a fee system that allowed her to get the care she needed at a price that was affordable and predictable.

Part of the problem people have with chiropractors is that they don’t always know what we do! Some try to fix back pain, while others sell supplements or various other devices.  Some wear white coats (some even drape a stethoscope over their neck) and exclaim, “We’re REAL doctors, too!”  Most claim that what we do can help you get and stay healthy.  But, FEW can (or will) tell you in a few words what it is we really do.

Here’s the truth about chiropractic! In it’s simplest form, chiropractic is the location and correction of a source of interference in how your body communicates with itself.  Specifically, we reduce stress on your central nervous system caused by slight misalignments of a bone (or bones) in your spine.  Because your nervous system runs your whole body and affects EVERY aspect of your life, that stress can affect your health, thinking and emotions.  When a chiropractor does what he/she is supposed to do, your body functions better. It simply can’t help BUT work better.

Most chiropractors will take your insurance.  But, when a doctor accepts your insurance it usually raises the cost of your care. There are many reasons why.  Just know it does.  I have an article on my blog about “The Case for Cash”.  Feel free to check it out.

At my practice, ALL we do is remove that stress that ONLY chiropractors are trained to find and correct. And because that’s all I do, it allows me to charge a fee that people can afford.  I also believe that if chiropractic is good for helping you GET BETTER it is also good for helping you STAY BETTER.  That’s why we encourage folks to include it in their lifestyle.

So, if I want you to include it in our lifestyle, shouldn’t I have a fee system that will allow you to do JUST that? Of course!  Isn’t THAT what they mean when they say “Put your money where your mouth is!”? A few years ago, I came up with the concept of “The Membership Practice” where you pay like you do for a health club membership.

We offer three (3) types of memberships. 1) Individual Visit Member: You pay a yearly fee of $100 and then you pay a reduced fee each time you come for a visit, a little more if you bring the rest of your family.  2) Monthly Practice Membership is a monthly investment that’s reasonable for almost any individual or family for unlimited care.  This plan is designed to help you fit routine chiropractic adjustments into your lifestyle without breaking the bank.  Yearly Practice Memberships work out to be about half of what the monthly plan would be and offers the same benefits as the monthly plan, only at a great savings.

Why would I offer my services at such a ridiculous value? I’m glad you asked.  At my office, we are dedicated to helping folks achieve their health goals in a way that saves them time, money and hassle.  My goal is to help as many people as I possibly can!  If I help you AND give you a great value, aren’t you more likely to tell someone else who could benefit from chiropractic?  Of course you are.

So, here’s what I’d like for you to do.  Please forward this post to a friend who could stand to feel better and be better TODAY!  The very best time to do something good for someone is when the idea pops into your mind. Thanks for taking time to read this message and for passing it on.

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The View from Outside the Box

Posted by Marietta chiropractor on December 28, 2008

Surely you’ve heard the term “Think outside the boc”.  I first heard th term in a business workshop way back in the 70s.  We were told to put the following drawing on a piece of paper and told to connect all the dots with four STRAIGHT lines WITHOUT lifting our pencil off the paper.

outside-the-box

It was amazing the gyrations we all went through to get the assignment done.  Well, there were a couple of folks who had seen the exercise done before.  Otherwise, no one had even a clue how to solve the puzzle.  Then the instructor proceeded to show us how the puzzle was solved:

outside-the-box-solved

As we all now know, the ONLY solution for the problem was to draw outside the (imaginary) box created by the dots.  What an awesome metaphor for many (most) of the problems facing our society at this point in time, including the economy, world affairs, politics, education and healthcare.  In fact, many of the problems we face have become SO institutionalized and entrenched that they can NEVER be resolved with the same thinking that caused the problem in the first place.

Let’s consider just healthcare.  As far as any of us can remember, healthcare in this culture has been one of fighting disease.  We start at birth vaccinating kids against all sorts of diseases from routine childhood illnesses like chicken pox and measles to diptheria, smallpox, TB and polio.  As we age, the battle is joined against cancer, heart disease and now diabetes.  Now, we’re being attacked by chronic health problems ranging from chronic fatigue syndrome and fibromyalgia to irritable bowel syndrome and ulcerative colitis.  And, that says nothing about the proliferation of autoimmune disease.  And lest we forget Restless Leg Syndrome?

In essence, we’ve creasted a “disease managment” system instead of a HEALTH care system.  Drug companies seems to “discover” diseases that they just happen to have a “new” drug that treat THAT diease perfectly.  Unfortunately, that system of “care” has made going to the doctor and paying for it an almost impossible task.  Finally, we’ve reached the point where we’re looking to Government to take over health care.  I take little comfort in knowing that the same folks that are handling Social Security, Medicare, the IRS and Hurricane Katrina will now be taking care of our health decisions.

So, for these and other reasons, I opted out of the traditional Western approach to “health care” a long time ago.  I guess it’s been almost 20 years now that I haven’t taken a drug or gone to the doctor for anything but emergencies.  Well, I DO go to the chiropractor on a regular basis to get adjusted.   But, I don’t go for pain management or any kind of symptom control.   I thought it might be interesting to explain what it’s like on the other side of the healthcare fence looking in.

Even prior to my exposure to the wholistic lifestyle, I was somewhat leery of established Medicine and would only take an aspirin for an occasional headache or when my back problem would flare up.  And, until I got my back problem resolved, there was always a tube of Preparation H in the medicine cabinet.  I don’t rember the last time I took prescription drugs.  The last flu shot I got was in 1975 when Uncle Sam made me get one before letting me out of the Air Force.

The view from outside the box is interesting.  I don’t take drugs.  Period.  I don’t need them.  I don’t get sick.  I also don’t go to doctors.  It’s not that I don’t “believe” in them.  I just don’t need them.  Now, if I were involved in a car accident or broke a leg, I’d be the first to go to the ER because that’s where Medicine shines.  Otherwise, I just don’t need it.  I don’t have a cardiologist, proctologist, orthopedist, neurologist (although I’ve referred folks to a few) or even a General Practitioner.  Are there any of those even left?  Now, quite a few folks have asked me “What if…?”  And, my response is “What if…what?”  The point is I simply don’t live in that “disease” world.  I don’t know what ny blood pressure is or my cholesterol level or my bone density or if I have polyps.  I don’t care.

Because I know that we were designed to be healthy, my focus is on health, not disease.  I know that if I eat right, exercise, drink water, develop and maintain a good attitude and spiritual life, get adjusted and do those things that help build HEALTH, I’ve done all I can do.  And because of my fiath and what I know about health, I am not afraid of living or dying.

When I look inside the box, I see folks living in fear of cancer, heart disease, stroke, diabetes, etc.  Their lives are consumed running from disease.  And, by the time many folks are 60 they have those little boxes with pills for every day of the week.  They run to the doctor every time they have a cold or a symptom.   Some folks I know spend almost a thousand bucks a month on “health” insurance that typically covers far less than people really need.  Health costs has virtually driven American automakers out of business.  Even folks with “good” insurance aren’t immune to the fear of disease.  In fact, I know several millionaires who suffer from anxiety attacks and the same diseases that afflict the poor.

The main difference in the perspectives on either side of the box is fear.  From the inside, fear rules and limits one’s fullest expression and enjoyment of life.  From outside the box, a sense of peace about health is the rule rather than the exception.  Now, I’m not necessarily telling folks to cancel their insurance and shoot their doctors.  But what I am saying is that there is another way to view health and life.  In a later post, I’ll talk more about inspired living.  Until then, consider all your alternatives.

Posted in Alternative health care, Blogroll, Chiropractic, Christianity, Economics, Ethics, Finance, Fitness, Health care, health insurance, Health Issues, Insurance, Life, motivational, Politics, religion, self help, spirituality, vaccination, wellness | Tagged: , , , , , , , , , , , , | Leave a Comment »

How might the financial market crisis affect your healthcare?

Posted by Marietta chiropractor on October 7, 2008

Good question.  Probably NOT the first thing folks think about when they hear and read reports about the (almost $1 TRILLION) Government bailout of the financial industry.  However, this nonsense will ripple throughout our entire economic sytem with repercussions not yet considered by our “leaders”.

The real estate, banking, securities and insurance industries are all linked in a variety of ways.  In good times, insurance companies are flush with cash and invest heavily in the stock market and real estate.  Also during good times, bankers tend to get a little over-enthusiastic and get very aggressive in their lending.  As we have seen from this “bailout” madness, securities firms speculated on the value of real estae and bought and sold essentially worthless mortgage backed securities in astounding volumes.

As the market turned, all of these entities became less liquid and started pulling in their horns.  If it were just one bank, or securities firm or insurance company, there would be virtually no problem as a result.  However, everybody involved started pulling back at the same time and in a drastic way.  The result is what we are seeing right now,  a liquidity crisis throughout the financial industry.

So, just how will all this affect your healthcare?  Good question.  Specifically with insurance companies, I think you’ll see a few things happen.  As they try to improve their liquidity, I think you’ll see premiums increase while payouts are tightened.  In other words, t’s going to cost you more to have insurance AND it will pay you even less than before IF they pay, at all.  You can expect underwriting criteria to get insurance to get much toughr.  You may see your healthcare providers ask you to pay up front and have your insurance company reimburse ou directly.

So, how might you deal with this scenario?  One alternative might be to purchase a higher deductible insurance policy.  Another would be to think twice about even using your insurance.  Isn’t THAT a heck of a note?  Pay out the nose for insurance and not be able to use it.  Still another might be to seek out providers that operate on a cash basis and offer reasonable fees based on what YOU need instead of what your insurance policy might pay.

However you decide to deal with this situation in the banking and finance industry, you should keep your debt down and try to manage your expenses as much as possible.  Stay healthy and on the job.  If you need to find a good chiropractor to help you stay healthy and on the job, just let me know.  I have friends that can help you stay on the job AND save money while doing so.  Best wishes.

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