X

CONTACT US NOW

X
X
X

How to increase revenue for your practice?

January 11, 2017



How to increase revenue for your practice?

With the field of medicine growing almost every day, procedures, technology and equipment come at a price, too. In such cases, it becomes increasingly difficult for practitioners to maintain a steady supply of funds for their business. Apart from this, overhead costs like rent, bills and salaries too, are an added load for the physicians. Thus, it is wise for any doctor to start with some easy options which can be carried out alongside his practice to keep the cash flow steady.

Today, reputed surgeons and doctors offer their assistance in other smaller medical establishments, for added income. However, such aspect is generally possible for those who have decades of experience along with time on their hands, to juggle two venues. So what does a doctor who has been in the industry for a couple of years and wants to create more revenue for his practice do?

Take a look at the options mentioned below to increase revenue for your practice:

  1. Provide Telehealth along with regular services:
    Telehealth is the process of providing medical services to a patient over the phone or via internet, for a fee. Telehealth is only possible for nominal illnesses and cannot be done for ailments that require strict medical assistance. If before or during the course of telehealth, the doctor feels a need for better medical assistance, he/she can direct the patient to a local doctor or hospital. Telehealth is beneficial as it can be done in the comfort of the doctor's own home or office. One can choose to do this part-time or even after work hours, as per time permits. However, Telehealth also requires the doctor to take into account the medical history, allergies etc. of the patient and provide him the required medical advice with written instructions and follow-up advice.
  2. Provide medical training:
    There are thousands of medical students who look to training under a reputed doctor before starting their career in the medical field. However, before beginning or perhaps even alongside an internship, a doctor can provide hands-on training sessions for to-be doctors. These can be scheduled during lunch hours or probably before or after starting the clinic. After a period of time, they can also assist doctors during simple medical procedures.
  3. Write medical blogs/ content:
    With thousands of online platforms and forums dedicated to the medical field, a doctor can provide medical knowledge and share his insight on such domains. A practitioner can also sign up part or full time contract with a medical based website and write blogs, articles, content etc. for them to be published on their website. Most of them offer per article wage or a fixed part-time monthly wage to doctors who can work for them. One can also write reviews, feedback or clarify health and wellness related doubts on such platforms.
  4. House visits:
    This is one of the simplest ways to earn a few extra dollars. After work or weekend hours can be dedicated to visiting old or bed-ridden patients at their homes and providing medical support. You can charge a standard visiting fee along with additional charges for medicines etc. A house-visit maybe scheduled as per need and follow-up sessions may also be included.

Thus, by following a few simple practices it becomes surprisingly easy to increase revenue. However, care should also be taken to retain existing customers in the process of reaching new ones to increase future prospects.

 

Category : Revenue Cycle Management