Wellness plans depend entirely on the Practice Management Systems.
They have some advantages but can cause a lot of Reporting issues.
Staff at Profit Diagnostix don’t actively recommend them. Some concerns are listed below for your consideration.
PMS - Practice Management System
Firstly, in the true sense if a wellness plan is run as a monthly subscription by direct debit, then the money goes into the bank and bypasses the practice management software - a huge problem! Now we have no traceability to detect whether it is making money or losing money. Ideally in this instance, someone at the practice would need to log an invoice and a payment manually for every client under a product called something like 'monthly wellness fee' and then pay it off so that we have auditability on it. Not a lot of practices have the time and staff to do this.
Then when the services are claimed, what needs to happen is the services included in the plan are invoiced at full price and then discounted to zero on a separate discount line. This would mean that we could trace/compare the amount of 'services' given for free via the wellness plan vs the amounts coming into the bank - so we can actually see if the plan is making or losing money. This can be done without step one and it is advised that this be done as as a minimum. To measure wellness plans we can simply count the wellness discount line. Or even better if the wellness services like the consults are set up as different items vs the normal primary consults in your PMS, we can count those.
The Very big Problem. some of the most popular PMS providers apply discounts directly to the product, not as a separate invoice line. This means using standard PMS discounts, the products are sold at zero price and THERE IS ABSOLUTELY NO WAY TO TRACE THE FINANCIAL IMPACT OF THE WELLNESS PLAN.