Title:
Tapping into the Undiagnosed: Growth Opportunities for Cardiovascular Practices
Subtitle:
How focusing on the 44% of undiagnosed CVD patients can lead to significant practice growth and improved patient outcomes
Introduction:
A cardiovascular practice can achieve significant growth by focusing on identifying and treating patients with undiagnosed cardiovascular disease (CVD). According to the American Heart Association, 44% of all people with CVD are not aware they have it, representing a large untapped patient population. By implementing screening and diagnostic protocols, a cardiovascular practice can increase its patient volume, leading to increased revenue and improved patient outcomes.
Unlocking the Undiagnosed Market:
The 44% of people with undiagnosed CVD translates to approximately 40,524,000 individuals. With 33,816 cardiovascular physicians in the USA, this equates to roughly 1,178 additional new patients per cardiovascular physician. The average number of patient encounters per year for non-invasive cardiologists is around 1,500 patients per year, while interventional cardiologists have an average of around 2,500 patients per year. This implies a significant opportunity for growth by targeting the undiagnosed population.
Increasing Revenue and Reducing Healthcare Costs:
A practice that focuses on identifying and treating undiagnosed CVD can expect to see a significant increase in revenue from sources such as increased patient volume, higher billing rates for specialized care, and additional revenue from related treatments and procedures. Furthermore, by identifying and treating CVD early, a practice can help to reduce the need for more expensive treatments down the road, such as hospitalization and surgery, ultimately reducing healthcare costs.
Considerations for Practice Growth:
It's important for a cardiovascular practice to be aware of the financial opportunities and risks that come with a larger patient population. Increased costs for staff, equipment, and supplies, as well as the need for larger facilities, must be taken into account. Additionally, not all undiagnosed cases will have a sufficiently high risk to warrant treatment, necessitating a targeted approach to identifying and treating high-risk individuals.
Conclusion:
By identifying and treating patients with undiagnosed CVD, a cardiovascular practice can achieve significant growth in terms of patient volume, revenue, and reputation. However, it's important to consider the costs and risks associated with a larger patient population and plan accordingly. By focusing on this untapped market, cardiovascular practices can not only expand their reach but also contribute to improved patient outcomes and reduced healthcare costs.