4PMD: Blood Test Cooperative for PhysiciansNelson Vergel
Patients seeking hormone and wellness related treatments sometimes encounter high costs associated with the required blood work. Being able to source affordable lab testing is key to having a program that employs laboratory assessment and early intervention to improve physiological, nutritional/hormonal, emotional/cognitive and physical function. Routine monitoring of patient biomarkers is scheduled throughout the year as an essential component for patients receiving hormone supplementation, interventional therapies, and/or fertility treatments. There are certain lab tests that need to be done annually to properly monitor men and women who are supplementing prescribed hormones. Some patients do not have third-party coverage for the laboratory biomarkers prescribed for these treatments; and the patient cost offered by the laboratory can be too expensive for the patient to afford, which therefore may result in non-compliance and low treatment retention.
Clinic Optimizers has partnered with a laboratory physician cooperative that contracts with national laboratories to receive wholesale prices for individual tests and test panels; the cost being significantly lower than what is typically billed by the laboratory directly to patients. The physician cooperative is called 4PMD (www.4PMD.com). 4PMD secured this low pricing by uniting physicians across the country who commonly prescribe wellness-related diagnostic tests within a self-pay practice model, so that they are able to order labs through the same account. This collaborative effort between 4PMD members results in the high volume purchasing authority needed to secure low wholesale ‘cash’ prices for catalog tests. This cost savings is then passed to the patient, who ends up paying an average 8% of the usual cost.
The affordable prices offered to patients through the clinic will help maintain the affordability of total treatment costs leading to high patient retention by mitigating the loss of patients who cannot otherwise afford annual treatment cost.