Looking for ways to improve your medical practice’s bottom line as we are now in the thick of a new year? Here are seven ideas for boosting profits this month that your office will love.
Revamp your look.
You’ll never get another chance to make a first impression, so make sure the outside of your practice looks inviting to current and potential patients. While you’re at it, it may be time for a quick indoor makeover as well. Make the inside of your office user-friendly with services like Wi-Fi and ensure your waiting room is clean and inviting. Don’t hesitate to go one step beyond and add a coffee bar with quality reading materials.
Build an online presence.
Chances are, if you’re not online, new patients aren’t finding you. Besides building a practice website, there are a few other important things you should be doing. Submit your practice to online directories, create your profile on the major review sites, and get a social media profile up for your practice. This will help your practice come up in search results and your current patients will be excited to see you online.
Become a social media guru.
Start conversations and engage your clientele on social media. It’s 2019, so if you haven’t already, it’s time to embrace social media and make it work for you and your practice. In today’s world, it is essential to have a working social media strategy, even in the medical field.
Improve your collections strategy.
Patient collections is an ongoing headache for most medical practices, especially with the number of patients on high deductible insurance plans. If it’s a major obstacle for your practice, it could be worth it to hire an outside agency. Otherwise, you may want to re-evaluate your overall collections strategy and make some essential changes to your billing practices.
Reduce missed appointments.
While this may seem impossible, it’s a goal worth working towards. No-shows are a substantial problem for most medical practices as they lead to scheduling issues and will negatively impact your bottom line. Work with your team to come up with a new and effective plan that will help your profits, without scaring away your patients.
Offer after hours visits.
Offering after-hours patient visits can truly increase revenue. You can fit more appointments into a day, compete with nearby practices that are only open later, and keep patients in your practice with convenient scheduling options.
Use technology to your advantage.
Use new technology to attract the younger generation. Millennials want more convenient, tech-integrated healthcare. Try offering online appointment booking, virtual visits, text reminders, and optimizing your patient portal.
By implementing these small changes, your bottom line will feel a big difference. We hope these tips help you find new ways to connect with and engage your patients! For more helpful tips, follow our blog and “like us” on Facebook!
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