Oak Street Health recently announced opening new clinics within three Walmart supercenters throughout the Dallas-Fort Worth area. The current healthcare marketplace is booming, as the importance of availability of quality healthcare with an innovative, value-based model. The clinics offer primary care and urgent care services for walk-ins as well as appointments. The offer care at over 70 centers that provide services for Medicare patients.
The clinics are just a few of many opening throughout the state. Entrepreneurs who are interested in joining in this marketplace are wise to keep the following in mind:
- Know the market. As with any business endeavor, it is a good idea to complete due diligence, including a market analysis of the area under consideration, before moving forward with negotiations.
- Know the regulations. Unique federal regulations are present within the healthcare field. This is particular true for those who file claims for payment with government providers like Medicare, as is the case in the transactions discussed above. As a result, it is a good idea to have a basic understanding of applicable regulations and know the best course of action in the event of a federal investigation or allegation of a violation.
- Regularly review. Regular internal audits can help to mitigate the risk of allegations of wrongdoing. These audits can find any potential issues and provide notice, giving leaders time to make changes before the issue rises to the level of a true violation.
With these consideration in mind, entrepreneurs can better ensure a smooth transition into the healthcare marketplace.