5 Essential Steps in Building a Revenue Model for Your Digital Health Business

Decoding Healthcare Innovation

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2y ago 15:58

MP3•Thuis aflevering

In this episode, Carrie and Rebecca discuss:

What a minimum viable revenue model is
What 5 questions they ask every new revenue model client
Why healthcare business rules are different from every other industry
Why determining a revenue model must include designing a compliant business arrangement
What happens when your revenue model is noncompliant

Download the checklist here: https://bit.ly/3TxMKCN

Find the episode transcript at our website: https://nixongwiltlaw.com/dhi-podcast/

Key Takeaways:

The first question you must ask is, “what are you selling”? For example, a vendor of RPM is often selling software, devices, and clinical services in the form of management services.
Identifying who your customers are or what revenue streams you have available is a key step in figuring out what the available payment mechanisms are. You may have more options than you think.
In healthcare, designing a compliant business arrangement is key to capturing revenue without getting yourself in trouble. Noncompliance is a revenue risk.
Consider what documents you need to make the arrangement viable.There may be more than you think due to the complexity of the healthcare industry.

“If you’re using those non-compliant business arrangements to capture the revenue, that revenue down the road may be clawed back from you.” - Carrie Nixon

Learn more from Carrie and Rebecca:

Healthcare Insights (a monthly deep dive into specific topics for innovators): https://nixongwiltlaw.com/healthcare-insights

Telehealth/Virtual Care Mgmt Update (a biweekly LinkedIn newsletter tracking legal and policy changes across the nation): https://www.linkedin.com/newsletters/telehealth-virtual-care-update-6901900767960068096/

Website: https://nixongwiltlaw.com/

Carrie on LinkedIn: https://www.linkedin.com/in/carrienixon/

Rebecca on LinkedIn: https://www.linkedin.com/in/rebeccagwilt/

NGL on LinkedIn: https://www.linkedin.com/company/nixon-gwilt-law/

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