Complementary and alternative medicine: opportunities and challenges

Complementary and alternative medicine (CAM) has emerged as a significant sector within the health care industry as patient demand has increased, as the number and diversity of providers has grown, and as more providers deliver evidence-based CAM modalities to patients. The challenges confronting health care organizations that offer CAM are both similar and dissimilar to organizations that do not offer CAM. The unique challenges will be described in a way to provide academics and health care finance practitioners with a plan to address these challenges which range from lack of third-party coverage to lack of knowledge about financing CAM among patients and providers. Not only will the unique challenges be described but the distinctive opportunities to finance CAM will be highlighted. These opportunities will be discussed from both a financial perspective and innovation perspective with the aim of providing academics and health care financial practitioners with a rationale to offer CAM to patients and get compensated for providing these services.