With 35 years of experience as a healthcare business lawyer, Jeffrey Cohen, the Founder of The Florida Healthcare Law Firm and the National Healthcare Law Firm, explores the ever-evolving world of wellness centers and delves into transforming the wellness industry from insurance-driven care to cash-based wellness services.Â
Jeffrey Cohen, the Founder of The Florida Healthcare Law Firm
The Emergence of Wellness and IV Hydration
Over the past 15 years, the wellness landscape has witnessed significant changes. Traditionally, healthcare has focused on treating acute illnesses, but wellness has emerged as a separate entity. People are increasingly willing to pay out of pocket for wellness services not covered by insurance.
This shift has led to the emergence of various wellness modalities, including hormone replacement therapy, med spas, and IV hydration.
The Role of AIVA in Guiding Healthcare Professionals
Cohen is a co-founder of the American IV Association (AIVA), which helps healthcare professionals and entrepreneurs enter the IV hydration industry. AIVA provides assistance by providing information on legal compliance, healthcare laws, taxation, and clinical matters.
A significant challenge faced by RNs moving into entrepreneurship is shifting from clinical roles to business. AIVA is there to guide them in this process.
One crucial issue in healthcare entrepreneurship is the need to define and uphold service quality. Practitioners in loosely regulated healthcare environments rely on professional licenses to maintain service integrity. However, a notable gap exists in quantifying “quality” within this context. As Cohen succinctly puts it, “Companies like Liquivida® are taking the lead to fill that gap.”
Franchise vs. Independent Business
Obviously, there are both pros and cons of opening a wellness center under a franchise versus starting an independent business.
Franchises offer established policies and procedures, which can expedite entry into the industry for those without prior business expertise.But they come at a cost. Independent ventures may cost less out of the gate, but they require more of an investment of time in acquiring business knowledge, particularly in the healthcare sector.
The choice is a personal decision that should be carefully weighed.
The Need for Specialization
Specialization is of utmost importance in wellness; healthcare professionals must align their patients’ wellness passions with customized solutions. Functional medicine providers, who approach healthcare holistically and passionately commit to wellness, often serve as specialists in this field.
Healthcare professionals are responsible for educating their clients and patients, ensuring that their treatments align with the patient’s needs and conditions.
Legal and Regulatory Challenges
Healthcare entrepreneurs must remain aware of the changing landscape and adapt to state-specific laws and regulations.
- State regulations vary significantly in the wellness industry. Keeping abreast of state-specific laws and regulations is essential.
- Clinicians must also avoid adopting a one-size-fits-all approach to patient care and understand the complexities of each case.
As you embark on your journey in the ever-evolving world of wellness and healthcare, the guidance and insight you need to thrive in this transformative landscape can be found within the pages of “How to Win in Modern Wellness,” a compelling book by Sam Tejada, President & Founder of Liquivida®.
In the chapter “One Size Fits None: Sage Insights from a Respected Industry Attorney,” Cohen imparts invaluable wisdom to aspiring wellness center owners, highlighting the challenges facing healthcare professionals and how AIVA provides the necessary tools and support during their transition from employees to entrepreneurs.