10 Ways to Make My Medical Office More Profitable in 2019As 2018 comes to an end, it’s a good time to start focusing on your medical office’s goals for 2019. At Outsource Receivables, one of the most common goals we hear our clients mention is profitability. Every medical office wants to be more profitable, but it can often be difficult to turn that desire into action. Read on to learn a few tips that we’ve encountered while working with a large number of medical offices over the past several years. If you have any questions, or you’re interested in discussing having our team visit your practice for a free no obligation medical billing assessment, just give us a call at 866-585-2800.

10 Ways to Boost Productivity for My Medical Office in 2019

  1. Focus on your online presence – When was the last time your website was updated? Is it optimized for mobile devices? With more people than ever using their phones to search online, it’s critical that you’re putting your best foot forward when it comes to your online presence.
  2. Look into virtual visits – If you’re looking for a quick profitability boost, investigate offering after-hours virtual visits.
  3. Focus on patient collections – Unpaid patient bills can cause significant stress for any medical practice. If you’re having trouble collecting on past due accounts, look into hiring a medical billing company that can take this stress off your shoulders.
  4. Drop worst reimbursing insurance plans – If you have certain insurance plans that you accept that don’t reimburse properly again and again, it may be more profitable to drop the insurance carrier all together.
  5. Look at staff overtime and pay – Take a closer look at the amount of overtime you paid out in 2018 and look at ways to minimize this in 2019.
  6. Add an additional patient visit each day – Adding just one new patient each day over time can drastically increase profitability for your overall medical practice.
  7. Look at ways to motivate your employees – Profitability starts with your own employees. It’s important to keep your employees motivated so that they’ll do all they can to ensure your practice is running smoothly. Look at ways to further motivate your employees throughout the year and you’ll likely see a boost in profitability.
  8. Delegate work whenever possible – Delegate any tasks that don’t require a physician’s license. This way you’re not paying a physician to do tasks that could be easily handled by office staff.
  9. Offer weekend or evening appointments – By adding weekend or evening appointments, you can instantly increase the amount of revenue that your practice generates.
  10. Reduce wait times – Long wait times can be extremely frustrating for patients, and are often identified as one of the main reasons a patient leaves a practice. Focus on keeping wait times to a minimum to encourage patient loyalty.

Interested in Learning More About Boosting Profitability for Your Practice?

As you know, running a successful medical practice is difficult. At Outsource Receivables, we’ve been helping medical offices across the country boost profitability and efficiency for years through the adoption of the latest technologies. To learn more about what we can do for your medical practice, don’t hesitate to reach out to our team today by phone at 866-585-2800.

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