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To Cure Insurance Woes, Doctors Try Prepaid Plans

By admin | November 5, 2007

Vanessa Fuhrmans
The Wall Street Journal

WHEELING, W.Va. — Vic Wood’s walk-in clinic here sees patients six days a week and logs roughly 15,000 visits a year. Its sparsely furnished waiting room is packed much of the 11-hour day with people seeking care for conditions ranging from sore throats to chest pains.

Despite the booming business, Dr. Wood and his staff — another doctor and four physician assistants — have battled strong head winds to keep the clinic going. Rising administrative costs and flat insurance-reimbursement rates make it tough to cover basic expenses. One in five patients lacks insurance; others are saddled with sky-high deductibles. Last year, Dr. Wood even cut his annual salary by half to help keep the clinic afloat.

In an attempt to turn the tide, Dr. Wood is trying a new approach — one that he hopes will one day sustain his practice.

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