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

In this episode, Carrie and Rebecca discuss: What a minimum viable revenue model isWhat 5 questions they ask every new revenue model clientWhy healthcare business rules are different from every other industryWhy determining a revenue model must include designing a compliant business arrangementWhat happens when your revenue model is noncompliant Download the checklist here: https://bit.ly/3TxMKCNFind 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 NixonLearn more from Carrie and Rebecca: Healthcare Insights (a monthly deep dive into specific topics for innovators): https://nixongwiltlaw.com/healthcare-insightsTelehealth/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/