In a recent google search for “how to improve revenue for the average physician practice”…….many articles, blogs, white papers, webinars, etc. were available.
They all basically said the same thing:
- Revenue for the average practice is going down. Poor reimbursements, larger patient portions, greater cost for IT cutting into practice profits and greater efforts by practice to prove meaningful use drain resources.
- There are things the practice can do to incrementally improve cost reduction.
The one thing that many papers/consultants suggested was seeing more patients to increase daily revenue. See more patients? Really?
Of course, every practice must perform due diligence to reduce cost in their practice……look at contracts, look at staff inefficiencies, improve workflow, push vendors for better costs, keep IT costs in check, have a web site, offer a patient portal, communicate more actively and frequently with patients, have an aggressive self-pay policy.
Healthcare practice revenue improvement is a reality without cost cutting measures that drain your practice of valuable resources.
And while all of these activities will help improve cost, not one of them will actually bring in additional revenue. Bringing in additional revenue requires a practice to think outside the box. When an average business wants to increase revenue, they look to new products. Healthcare practices miss opportunities for increased revenue within their existing patient population simply because they haven’t thought about new products.
All practices have patients that seek specialty services that they look and pay for. They do not consider that their regular provider offers these services, so they go with web searches and TV ads to find their solutions. Solutions to weight loss concerns, allergies diagnosis and treatments without invasive shots, stem cell extraction and preservation at birth without risk to fetus, and immunotherapy to name a few.
Patients can and do spend out-of-pocket for realistic solutions to these life issues they care deeply about. And now they can find these solutions at your practice that they already know and trust. But many of these services are covered by their existing insurances when filed accurately.
The key to success is trusted providers with an established base of patients who are now offered turnkey solutions to problems they might turn to other specialties or web ads for results.
Revergencehealthcare.com has emerged as a leading company offering these solutions to physician practices. If your practice is interested in more than cost cutting measures but in adding substantial revenue to the practice bottom line while delivering valuable services for your existing patients then visit revergencehealthcare.com for a full picture of how you can realistically add revenue to your practice.
CLICK HERE for your direct link to an increased bottom line.