Our primary mission here at the Advanced Regenerative Medicine Institute is to equip clinicians to offer stem cell and PRP therapies in their practices. We believe in the value of regenerative medicine as an alternative to more traditional methodologies. Regenerative medicine offers tremendous potential; potential we are still learning about.
Do you own a private practice or partner with other physicians in a group? If so, we want to encourage you to consider adding PRP therapy to your list of services. We can train you to administer the therapy for musculoskeletal injuries and diseases, hair loss, and aesthetic applications.
Here are three reasons adding PRP therapy could be very beneficial to your practice:
1. The Market is There
Let us start with the basic premise that medicine is a business. There is nothing wrong with that. As a clinician, you have to make a living like everyone else. And if you are running a practice, you know how difficult things can be with shrinking reimbursements and tighter restrictions. The good news about PRP therapy is that the market is most definitely there.
A research report from Future Market Insights shows that the PRP market is expected to grow nearly 12% per year between 2016 and 2026. Annual revenues were well over $50 million in 2015, and they are expected to be several times that 5 to 10 years from now.
The reality is that PRP therapy is something people want. They are looking for alternatives to joint replacement surgery, pain medications, steroid injections, and hair transplants.
2. Payments Are Made in Cash
No insurance companies that we know of cover PRP therapy except in cases of post-surgical administration for wound healing. While that is bad in the sense that people have to pay for the treatments out of pocket, it is good from the standpoint of your practice’s accounting. PRP therapy is a cash service that guarantees you will get paid what you are worth.
When you offer PRP therapy, there are no insurance forms to fill out. There is no waiting around for reimbursements to arrive. Your patients pay at time of service and that’s that.
3. It Fosters a Different Mindset
The third reason to add PRP therapy to your practice involves your mindset. Traditional Western medicine has long focused on treating symptoms through artificial means. And where symptoms cannot be treated, we look for artificial cures – like joint replacement surgery.
Regenerative medicine is based on harnessing the body’s natural ability to heal itself. When you apply PRP therapy to offer pain relief from osteoarthritis, you are not injecting artificial pain medications or steroids. You are not removing the joint and replacing it with plastic and titanium. You are injecting the patient’s own platelets and growth factors in hopes that they will encourage the body to get about the business of repairing the damage.
PRP therapy for aesthetic applications offers an equally stark contrast. How many patients have allowed themselves to be injected with the botulinum toxin in order to enjoy a more youthful appearance? How many are willing to accept dermal fillers? Wouldn’t it be better to offer them PRP therapy, a therapy that utilizes their own blood and platelets rather than artificial substances?
We acknowledge that regenerative medicine is not a cure-all. We would never tell clinicians it is. But we do know that it is proving itself to be remarkably effective for musculoskeletal injuries and diseases, hair loss, and aesthetic medicine. We believe PRP therapy deserves a place in your practice. If you would like to know more, don’t hesitate to contact us.