Combining The Fitness Industry And Health Care Industry?

Combining The Fitness Industry And Health Care Industry?

Healthcare and fitness industries are closely related to each other. The expertise of the fitness industry always strives to capitalize on this trend. But this trend can also load more burden upon business owners. As, while connecting with health care industry will require more stringent and active measures for data protection.

Choosing Fitness Healthcare or Both

The greatest challenge for the fitness industry owners is to make the decision, whether they will work independently or comply with the health care facility.

As, if the fitness industry owners work independently then they don’t need to follow the standard of HIPAA or other constitutional regulations. But if they comply with the health care industry then they need to work under the standard regulations.

If the fitness industry can afford the initial cost to hire medical billers and coders or outsource the services to the relevant companies, then they can easily take the decision to associate with health care industry, it won’t only increase the investment but also uplift optimize the return on revenue, as this strategy will make the fitness industry able to earn directly from the payment of customers and secondary and/or third-party payers.

The Health Insurance Portability and Accountability Act

As a sole proprietor fitness business, business owners can enjoy collection management without working according to the policies and regulations of HIPAA. But if the fitness industry will comply with the health care industry hen they will have to consider the laws that are implemented by HIPAA in the United States of America.

Guidelines for Medical Patients

Patients feel hesitated to share their personal information on diverse platforms, which sometimes may cause distortion of the data due to intruders and data breaching. Therefore, the Department of Health and Human Services have implemented some standards for data security for any organization that holds medical data for their patients. This federal agency oversees compliance and has the authority to charge fine to different companies when they fail to keep up with the standards of HIPAA.

HIPAA provides the definition for the execution and privacy measurements of health care industry and the industries related to them. Therefore, the execution of the services of an affiliated fitness industry will be different from the sole proprietor one, according to the advanced bureaucracy.

Payment Collection:

You can use the services of reliable medical billing and coding companies, but the most important thing is that these companies would comply with the standards of HIPAA. Compliance rules will be applicable to your business provides services by associating, or working as a subcontractor or hybrid business with health care industry.

The hybrid model will work in a way that the gym center or fitness industry would affiliate with a health care facility including; physician’s office, hospitals, clinics or personal physician. Then they will suggest their patients (who would require fitness strength) to receive your service, and it would be mentioned in their recommendation receipt. It would be submitted to medical billing and coding company, they will prepare the claim for that visit of the patient and also mention the details and charges for the fitness center services. Then Health Insurance Company would co-pay the charges of the medical faculty and fitness center against that claim.

Scrutiny of data security:

It is a great responsibility of each domain; health care facility, the fitness industry and the health insurance companies to supervise the dataflow. Patient’s private information must be shared with the expertise of each profession but with the certainty of safe data. It takes time and man-power to prevent data from breaching and abuse. It requires reliable and efficient technology for the safe distribution of enormous data.

More demand for fitness centers:

If the fitness center associates their services with health care facility then they need to comply with the Government laws. Their stringent licensing requirements at the state level load a burden upon the administration staff, as their payment collection management process has to go through so many standards. Therefore, if you provide services as a physiotherapist or other health-related fitness services, then you might get caught up in diverse complications for payment collection.

Affiliating with health care facility doesn’t only comprise of physiotherapy practices, the fitness centers can also provide supplements and health improvement medications according to the recommendation of the associated health care facility. Along with these products, bone strengthening, cardio training and other disease prevention services of the fitness industry will also be encountered under these services.

The equipment and technology that is also involved in the fitness training will also be demanded by the patients, due to the recommendation of their physicians. The fitness industry also mentions the charges for these digital devices to improve the physical strength of their customers. The devices help to gradually provide robustness in the physical health of the patients and also help to monitor their recovery. Therefore, their use is as significant as other services provide by the fitness industry. The fitness industry owners can charge for these services as well. Medical billing and coding specialists would charge a claim against these services as well.

These factors when collectively are demanded by the population with leveraged quality and quantity then it puts the burden upon the administration to keep and monitor the enormously huge record and generate claims against it. It ultimately demands more number of staff to perform medical billing and coding, so it leads the fitness industry owners to outsource medical billing and coding services to their relevant companies.

A business model that gets membership income, along with medical billing, might generate a way to get the best of both. Just ponder on the fact that if you have some strategic logistics that a business model to earns income from healthcare, you are contributing to a realm that is much more technically demanding. Whether you have an opportunity to collaborate with healthcare or start a collaboration that is a hybrid business model, just make sure that the financial is worth your while.

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