As you know, government aid patients generate lower amounts of profit. If you primarily attract these patients, it will be impossible for you to scale your business in the future. So why do we still want to cater to those patients?
The answer doesn’t have anything to do with profits,
rather it is a matter of ethics. As a doctor, you have taken up the
Hippocratic Oath with society. This comes with a real weight of responsibility, and according to the text, accepting Medicaid or Medicare patients should be without question.
Read this sentence from the second to last paragraph of the oath: “Into whatsoever houses I enter, I will enter to help the sick, and I will abstain from all intentional wrongdoing and harm, especially from abusing the bodies of man or woman, bond or free.”
That first phrase - “Into whatsoever houses I enter, I will enter to help the sick…” - is the important piece here.
In today’s time, you will probably not be entering your patients’ physical homes, however the underlying idea of that phrase still applies. As a dentist or chiropractor, you have an invaluable skill set that can save lives. Your skills inherently come with responsibility of helping your community members, regardless of their income brackets.
It is your moral duty to apply the knowledge you have gathered to help everyone you can.
Now I’m NOT saying you shouldn’t be compensated appropriately. I get it. As a doctor, you busted your ass to get where you are, and the people who you help on a day to day basis probably don’t have 1/4th of the student loan debt you have.
So how do we address your current dilemma of maintaining your professional ethics while also growing your business?
The key is brand positioning. Let’s break it down.