By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    What Are the Benefits of CBD?
    November 27, 2021
    How to Measure Adult Diapers- The Ultimate Guide to Picking the Right Size
    March 8, 2022
    medicine cabinet
    The Effect Of Finished Dosage Form Manufacturing In New Drugs
    July 5, 2022
    Latest News
    Beyond the Clinic: Medical Surveys Are a Roadmap to Passive Income for Doctors
    September 23, 2023
    5 Self-Care Habits to Help You Live an A+ Life
    September 21, 2023
    Keep Employees Safe & Healthy By Reducing Warehouse Injuries
    September 20, 2023
    What is Pneumonia? Causes, Treatment, and Care
    September 19, 2023
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    The Doctor Becomes The Patient: Lessons Learned From Wearing A Gown
    October 20, 2012
    ICD-10
    Ready or Not: ICD-10 Will Go Live as Planned Oct. 1st
    April 3, 2014
    Promoting Innovations in Medical Education
    January 23, 2013
    Latest News
    Job Seekers with Disabilities Should at Health Insurance Benefits
    September 12, 2023
    Reasons That Drug Prices Are Rising to Unsustainable Levels
    September 12, 2023
    How Revenue Lifecycle Management Helps Healthcare Providers to Optimize Business Operations
    September 6, 2023
    The Hidden Benefits of Practice Exams for Medical Professionals
    September 6, 2023
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: Essential Guidelines for Maximizing Medical Practice Revenue as Competition Swells
Share
Sign In
Notification Show More
Aa
Health Works CollectiveHealth Works Collective
Aa
Search
Have an existing account? Sign In
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Business > Essential Guidelines for Maximizing Medical Practice Revenue as Competition Swells
Business

Essential Guidelines for Maximizing Medical Practice Revenue as Competition Swells

Phil Cohen
Last updated: 2021/06/30 at 12:07 PM
Phil Cohen
Share
5 Min Read
medical practice revenue
Shutterstock Photo License - By Rawpixel.com
SHARE

Running a medical practice has presented a number of new challenges over the last year. There were some practices that were deemed unessential which led to massive layoffs in some health niches. The dental industry was one that was ravaged with job loss only to see a big job recovery once procedures not deemed an emergency were able to be fixed. Maximizing revenue throughout the entire year is important as having lulls in revenue can turn certain months/seasons into struggles financially. The following are tools that you can use to maximize revenue at your practice throughout the year. 

Contents
Patient Satisfaction Surveys Automated Appointment Reminders and Scheduling Additional Services to Add Addiction Streams of Revenue Ramping Up Digital Marketing

Patient Satisfaction Surveys 

Regardless of your type of practice, there needs to be a focus on the patient. There are certain areas that are still struggling due to the pandemic. The lack of funds that a number of people have are resulting in less spending on healthcare. The patient satisfaction surveys that are filled out can create an excellent baseline for improvement. You might see a focused effort result in much higher scores the next time the survey is sent out.

Certain patients will be overly critical so it is important to not take every single negative comment to heart in the surveys. There can even be questions about additional services that they would like to see offered. Patient satisfaction surveys are extremely easy and inexpensive to create but the data they gather can be invaluable.

Automated Appointment Reminders and Scheduling 

There are always going to be people that delay an appointment for months as they don?t want to see a medical professional or simply forget. These reminders can cut down on missed appointments and keep the schedule full. This can also give a reasonable estimate of how many additional patients can be taken on with your current staff. 

More Read

Types of Remote Access Solutions for Hospitals

Types of Remote Access Solutions for Hospitals

What Are the Benefits of Attending Medical Sales College?
Subscription Management Solutions Are Crucial for Telemedicine
Comfort And Safety: 7 Ways Healthcare Organizations Can Create A Better Environment For Their Patients
4 Points to Remember Before You Start Off Your Next Medical Presentation

Returning patients should have a few options to schedule their appointments. Not everyone has time to wait on hold during the hours that a medical practice is usually open. New patients should have less options when it comes to scheduling appointments as you do not want days filled with people failing to make their appointments. 

Additional Services to Add Addiction Streams of Revenue 

A center that increases revenue that provides urgent care can be done in a variety of ways. Add OccMed to urgent care so workplace injuries can be assessed and treated. Urgent care facilities see drops in patients during certain seasons as the flu is not as prevalent. Additional services added to any type of practice can increase revenue as long as it doesn?t impact the quality of care in other areas. 

Telehealth was not widely adopted by the common person in the past. In today?s world, there are so many people that have done a virtual medical appointment that wouldn?t have happened if it were not for COVID-19. The convenience that telehealth can provide a patient allows a doctor to see more patients throughout the day. Telehealth has increased the quality of care in some circumstances as patient monitoring can help detect any issues that could be developing. Marketing these new services should be done efficiently as patients should know about these before they come to the office. Most people have a set amount of money they want to spend but this can change if a new service appeals to them. 

Ramping Up Digital Marketing

Digital marketing is more important than ever before for medical practices of all kinds. There is likely to be competition within a city between practices. The importance of ranking at the top of search results increases as an area is saturated by specialists of a certain kind. The ability to rank at the top of search engines while having positive patient reviews generated is a recipe for success. There are companies that specialize in marketing for dental or plastic surgery practices. Enlisting the help of these professionals can really unlock the power of digital marketing. Look at the results these companies have generated as these will tell the quality of their work. 

Maximizing revenue at any type of business is going to present a number of challenges. Consistently grow revenue over time and avoid making radical changes to try to ramp up revenue too quickly. The last thing you want to do is alienate your current patients.

TAGGED: medical marketing, medical practice, medical practice revenue

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Phil Cohen March 21, 2021
Share This Article
Facebook Twitter Copy Link Print
Share
Previous Article workplace injury Important Steps to Take After Suffering a Workplace Injury
Next Article spinal health tips What You Need to Know About Spinal Health

Stay Connected

1.5k Followers Like
4.5k Followers Follow
2.8k Followers Pin
136k Subscribers Subscribe

Latest News

Anxiety Disorder
The Importance of Nutrition in Anxiety Disorder Treatment
Anxiety September 24, 2023
spinal health
How to Advocate For Your Spinal Health In A Healthcare Setting: Strategies From Dr. Brandon Claflin
News September 24, 2023
Medical Surveys
Beyond the Clinic: Medical Surveys Are a Roadmap to Passive Income for Doctors
Health September 23, 2023
tips for neurodivergent people being pulled over
Tips for People with Neurodivergent Disorders Being Pulled Over
News September 21, 2023

You Might also Like

medical billing training
Medicare

Navigating Through the Essentials: Medical Billing Training for Beginners

September 12, 2023
healthcare providers
Hospital Administration

How Revenue Lifecycle Management Helps Healthcare Providers to Optimize Business Operations

September 6, 2023
ehr software
Health

Should Hospitals Use Meditech EHR or Advancedmd EHR?

July 13, 2023
optimize healthcare business
News

Top Tips To Optimize Operations In Your Healthcare Office

June 30, 2023
Subscribe

Subscribe to our newsletter to get our newest articles instantly!

Follow US
© 2008-2023 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Lost your password?