How to increase revenue in a medical practice?
For a medical practice to withstand the test of time, a healthy profit is a necessity. Professionals are constantly looking for ways to increase medical practice revenue. But where do you start? Making cuts or raising prices? Add new services or create a new marketing plan? How to attract patients to your practice? How can you increase average revenue per patient visit?
All important questions. Below you will find over 60 ideas from 9 medical professionals and companies to help increase your practice’s revenue. Each author provides their take on how to increase medical practice profits. Some ideas are unique, while there seems to be agreement on several key strategies.
There is no single best way to increase profit margins. Find the strategies that work best for your practice.
By Elaine Pofeldt
The human element is the theme of Elain Pofeldt’s article. From engaging patients on social media to working with staff and providers to reduce costs and increase revenue.
Highlights from the article:
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athenahealth’s walkthrough goes beyond just increasing medical practice profits. They provide a practice management knowledge hub focused on streamlining your practice management
Highlights from the athenahealth walkthrough:
This year, overall healthcare cost is projected to be 19.5% of the our gross national product. While everyone is looking for opportunities to cut costs, practices rely on revenue to deliver higher quality of care to their patients.
LBMC offers these ideas to increase revenue:
Read the full article here: Seven Ways To Build Primary Care Practice Revenue
A quick and common strategy to increase medical practice profits is to cut staff. MGMA offers a different approach by focusing on 15 ways to increase revenue without cutting staff.
Read the full article here:
By Tyson Downs
Tyson Downs offers a simple approach to increasing medical practice profits. His list goes beyond 5 if you include all the tips for ancillary services. Expect a straight forward and helpful article.
Read the full article for tips on each: 5 Tips to Increase Medical Practice Revenue
By Amanda Guerrero
Increasing your marketing budget if you want to increase revenue is a reasonable proposition. Unfortunately not ever practice has that luxury.
See the complete article here: 4 Ways to Increase Practice Revenue
By Keith Borglum
Going through the motions day in and day out can make us lose sight of the fundamentals of running a medical practice. Keith Borglum offers 10 tips to help you keep your eye on the prize.
Read the full article: 10 Tips to Increase Medical Practice Profits
Is your medical practice leveraging technology to maximize profits? eVisits recommends using technology to build a profitable practice.
Read the full article: 9 Tips to Increase Medical Practice Revenue
By Betsy Nicoletti, MS
Like Caesar, Betsy Nicoletti gives a thumb up or thumbs down to strategies that can help increase primary care revenue.
Read the full article here: How to perform services that increase primary care revenue
Terry L. Mills, MD, FAAFP
“Finding time for more patient visits may be easier and more lucrative than you think.” The key to a physician’s success is having the ability to increase gross revenue. Terry L. Mills, MD provides his take on what medical practices can do to meet this objective.
Read the full article here: How to Maximize Revenue with Minimal Effort
Have some tips of your own? Contact us and if your content is relevant, we will be sure to add it to our growing list.