In this episode of the Practice Profit System podcast, host Matthew Gillogly warns doctors that recent changes in the healthcare reimbursement landscape are deliberately squeezing independent physicians. He outlines three major developments: (1) Medicare announced an 18% increase in premiums, raising out‑of‑pocket costs for patients; (2) insurance carriers are cutting reimbursement rates for solo doctors by an average of 4.5%, effectively shaving $1.50 off a typical office‑visit payment; and (3) hospitals and nursing homes are receiving rate increases of 4% and 2.9% respectively, creating a stark disparity that incentivizes doctors to join large health systems. Gillogly shares anecdotal evidence of urgent‑care closures and family‑practice doctors being forced to sell to hospital groups. He argues the only viable escape is to transition to a cash‑based practice, citing successful conversions across orthopedics, family medicine, functional medicine, anesthesiology, and more. Throughout the episode he promotes his Business Mastery Fellowship (BMF) program—a group coaching initiative designed to help physicians break free from insurance‑based care—and offers a free copy of his book, The Anatomy of a 7‑Figure Medical Practice. The episode ends with a call to action to join the BMF waiting list, emphasizing that insurance companies are posting record profits while providers are being “shafted.”
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Welcome to the Practice Profit System podcast. Do you own a cash-based practice? Are you looking to start one? Tired of working endless hours and still not making enough money? Want to fire your insurance company? Then you're gonna love our podcast. Each episode is full of insights and proven strategies to grow your practice to 7 figures and more, allowing you to take more time off, make more money, and no longer have to take insurance reimbursements. Plus, get a free copy of my book, The Anatomy of a 7-Figure Medical Medical Practice, where I detail my entire journey to creating my own 7-figure practice. Just go to www.srpmedicalmarketing.com/book. You just pay $7.95 in shipping and handling, and you'll also get over $1,197 in free bonuses. That's www.srpmedicalmarketing.com/book. Now on to our show.
Hey everyone, it is Matt Gillogly and welcome to another edition of the Practice Profit System podcast. Today we're gonna talk about how doctors are getting hosed once again. Yeah, that's what we're gonna talk about. Believe it or not, if you haven't seen the latest data that's come out on reimbursement rates, well, it's probably gonna shock the living bejeebus out of you. So we're gonna talk a little bit about that, but before I go any further, If you are sick and tired of being pushed around by the insurance companies, if you want to take back control of what it means to be a doctor, to be able to break the chains of insurance-based care, treat your patients the way that you want to treat them, and make the money that you deserve, then I want you to check out Business Mastery Fellowship. This is our premier program and we're relaunching it. We're starting a new group of doctors that we're going to work with in a group environment starting in the beginning of September. The offer and the group is not available just yet, but you can be put on the pre-launch list. All you have to do is go to srpmedicalmarketing.com/bmf. That's boy, Matt, F as in Frank. Okay, that stands for Business Mastery Fellowship. So that's srpmedicalmarketing.com/bmf, and you will be put on the early list. And if you're on that early list, you'll be given early opportunity to join Plus you'll be available for bonuses that no one else can get because you're on the early list. So check that out. If you are sick and tired of not making the money that you richly deserve, if your practice is struggling, if you wanna break free from insurance-based care, check that out. Okay, so let's talk a little bit about what's happened in the industry in the last couple of weeks. If you haven't seen it, Medicare just announced that there is going to be an 18% increase in premiums. Which, you know, that's one of the largest increases in, in ages. That means that the average person, if they're paying $500 in insurance premiums out of their pocket, that's gonna add an additional $92 a month to their premium. On top of that, what else is happening is that money, and this isn't just for the insurance company, this isn't just for Medicare, but this is most likely, this is starting to show itself in a lot of the insurance companies. What else is happening is they're cutting your reimbursement rate. So if you're an individual doctor and you are, uh, on your own, your reimbursement rate is gonna be cut an average of 4.5%. Now, based on the current reimbursement rates of just an office visit, that means that they're gonna cut the amount of money that they give you by $1.50, which to me is more insulting than cutting your reimbursement rate in half. It's like they're just slowly bleeding you to death. Like, if you wanna kill a patient, what do you do? You give 'em 1,000 cuts. And they'll bleed to death, or you cut a leg off 1 inch at a time. And quite frankly, that's exactly what I think they're doing to you. Now, on top of this, hospitals are getting a 4% plus increase. Nursing homes are getting a 2.9% increase. So everybody else is seeing an increase except for the individual doctor. And the reason is really simple. They don't want you around. They don't want you out there on your own. They want you part of the big hospital group. They do not want doctors operating on their own. I've talked to countless doctors over the last couple of weeks, and it's just— it's staggering to me. One of my clients is in the south side of Atlanta. She has just told me that the urgent care is closing, the hospital is closing, and 2 of the family doctors are leaving. Okay, I've heard story after story of how family medicine doctors, family practice doctors, are having to finally close their doors and sell to the large hospital groups because they just can't make it anymore. Because the reimbursement rates are just disgusting. And I hear this time and time again. And the way out— you really have a couple different ways out. You could close your shop, you could sell to the big hospital group, or you can take back control and you can create a cash-based business. Now, you may think that non-insurance is not going to work with your client base. You may think that non-insurance healthcare Because of where you live, or people won't pay for it if you've tried it before. Well, that's why I want you to check out Business Mastery Fellowship, because this is the exact kind of stuff that we do. We help people break the chains of insurance-based care. I just got back from visiting an orthopedic surgeon and his team up in Syracuse for 2 days, building a plan and getting them ready to transition away from insurance in the next 90 days. Orthopedics, family doctors, I've helped functional medicine people get out of insurance and just make the full transition over. So, anesthesiologists, it just— the list just goes on and on. But here's the real thing. This is the most important thing that I want you to get, is— or one of the most important things that I want you to get. You have to remain independent. You have to. Our health system depends on it because we have to provide an option for our patients that isn't the same old, same old care. And there's huge demands for this. We constantly see doctors that make this transition From insurance over to non-insurance, and we watch their practices skyrocket because just as frustrated as you are, the patient is frustrated as well. And so I want you to take advantage of that. I want you to feel what it's like to take back control because quite frankly, you're getting shafted again. Nurse practitioners, NPs, RNs, doctors, they're all getting shafted. So the last thing I want to share with you is, have you noticed what the profits are like for the insurance companies? They're having record years. Now think about this. They're over there crying poverty. They're telling us that they have to raise their rates, which they do. They're lowering reimbursement rates to us. Our costs are going up. Our rents are going up. Our supply costs are going up. Our staffing costs are going up. I mean, and yet here they are. They're having record, record months, quarters, and years in profits. So get away from insurance-based care.
Take it—
let me show you the path. Check out srpmedicalmarketing.com/bmf. srpmedicalmarketing.com/bmf. Get on the waiting list. Sign up on the waiting list and you will be given the early launch bonus packages. Some of you, if you're part of that bonus package, that'll be released to you in just a little bit. But I can promise you, you'll get some great access to some really cool tools. that other people won't have just by being on that early list. So take advantage of it. Don't get screwed and shafted by the insurance companies. Take control of your business, take control of your life, and we will see you very soon. Have a great day, everybody. Thanks.
Thank you so much for listening. If you liked this episode, take a moment and share it with your fellow medical professionals, or post a positive comment and rate it on wherever you just listened. Now don't forget, you can get a copy of my book, The Anatomy of a 7-Figure Medical Practice, for free. $19.95 in shipping and handling. Plus, you'll get over $1,197 in free bonus material. Simply go to srpmedicalmarketing.com/book. That's srpmedicalmarketing.com/book. Thank you so much, and we'll see you next time.
