Deciding how to structure payment at your functional medicine practice is one of the main hurdles practitioners face when opening a clinic. Considering whether to offer packages, require a minimum commitment fee, or accept insurance can be a significant decision.
This article will help you explore these choices and learn what other practitioners are doing.
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Are you a functional medicine practitioner & unsure of how to price your visits? You’re not alone.
At Rupa Health, we’re passionate about empowering practitioners to bring this kind of care to more people. After helping many practitioners grow their practices and running a virtual clinic of our own at Rupa Health, here's what we've learned about pricing.
One of the top questions we get from providers is “How much should I charge my patients?”. Pricing is a complex task in any industry, and functional medicine is no exception.
Interest in functional medicine has increased significantly in the last 5 years. There were 1.6 million searches for practitioners through the Institute of Functional Medicine’s website just last year!
There are more patients than ever looking for your services. Here's how to reach them and price your services fairly.
How does pricing work for functional medicine?
Most functional medicine doctors offer their services in bundles or packages, which include a comprehensive initial appointment (usually 60-90 minutes), and sometimes also include lab work and follow-up appointments. From the data we collected, only a small percentage of doctors offered a-la-carte options. The majority of providers opted for bundles, packages, or a minimum number of visits to establish a relationship with a patient.
What is the minimum price for working with a functional medicine doctor (MD or DO)?
We analyzed the pricing for 25 Functional Medicine doctors (including only MDs and DOs) in the U.S. We decided to show the “minimum price of working with them,” meaning either the price of just the initial consult if they offer a-la-carte, or the price of their most affordable package if their pricing is structured that way.
Average Price: $1,277
Lowest Price: $280
Highest Price: $4,700
What’s the average price per hour of a functional medicine doctor’s time?
Average Price: $ 460
Lowest Hourly Price: $125
Highest Hourly Price: $1,250
The data was somewhat skewed by one doctor who charged $1,250 per hour. Excluding that outlier, the average price per hour is $460.
Average doctor time in a package: 146 mins
A note on insurance - most providers do not accept insurance.
Most functional medicine providers do not accept insurance and require payment at the time of service. However, if they are an MD, DO, or ND, they will usually provide a superbill for patients to submit to their insurance companies.
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You can't go wrong - it's different for everyone. Stay true to what you believe is a fair price for your market - and one that allows you to support yourself.
Your pricing depends on many factors - your location, training, and demand for your services. We've observed that it takes, on average, 3-5 years of dedicated work to develop an established and thriving practice. At this point, many providers decide to adjust their prices, take on fewer clients, or be more selective in the clients they accept. The main factor in pricing is often location. San Francisco, LA, and New York are the most expensive markets with the highest demand for functional medicine. If you are in these areas, you may be able to charge more than in other areas. However, telemedicine is changing the landscape. It can reduce the cost of running your business and enable you to see patients in areas where the ability to pay might be higher than your normal rates.
One final note - please remember, the work and services you are providing are invaluable. Supporting health - for many patients - is priceless. Don't undervalue yourself or your work. 🙏 Good luck!
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