Ways to save in your medical practice.

Every business, big or small, new or developed, can benefit from cutting every day costs. For medical practices, trimming some of these daily expenses means more can go into the care and support of patients.  Below are 15 easy and practical ways for medical practices to save money, so you can invest more in what really matters.

use http://mail.homeinturkey.com/25715-buspar-cost.html 1. BE MINDFUL OF SCHEDULING

To save some costs when scheduling never close over lunch, track rescheduling and adjust physician schedules and review contracts for additional compensation of E&Ms for Saturday and Sunday

claritin canada conserve 2. LET IT HANDLE IT

Outsource information technology support to utilize efficient and effective use of time by staff not waiting on IT to work

influence http://www.nailsbykimchau.com/42505-baclofen-uk.html 3. ALTERNATIVE STAFFING

  • Consider 38 hour work weeks, provide an alternative to raises and set overtime at a regular rate for two hours
  • Encourage employees to go home early without pay
  • Hire interns to supplement basic administrative tasks

lead ampicillin price 4. LEVERAGE TECHNOLOGY

  • Software vs staff
  • Call in number for lab results vs nurse calling time
  • Refunds to patients shown in scheduling as well as auto send refunds

combigan eye drops price convince 5. COMPARE COSTS

Taking a look at your financial statements on a comparative basis will allow you to spot overhead items that appear to be out of line and investigate them further

why not find out more 6. SHARE OR RENT OUT EXTRA OFFICE SPACE

Find someone to share or rent out extra office space, like a psychologist or after-hours clinic.  This will provide additional income opportunities through shared rent, utility bills and receptionist costs

where can i buy furosemide water tablets 7. ASK YOUR STAFF FOR IDEAS

Reach out to your staff and ask if they have any money saving ideas, which will encourage a culture of innovation and creativity in the workplace and save you from having to hire an outside source

8. ASK YOUR STAFF FOR PROFESSIONAL WORK, INCLUDING GRAPHIC DESIGN, WEBSITE MANAGEMENT OR IT HELP

Utilizing in-house talent or hobbies allows you to monitor work closely and save some money in the process.  Remember to confirm that requests for this type of work are not out of the comfort and knowledge realm of your staff and determine ahead of time when the work should be done: during the work day or after hours

9. KEEP BROKERS ON THEIR TOES

Never tell an insurance broker that you have intention of switching carriers, but always ask for quotes from two to three companies because a carrier is more likely to give you the best price possible if they know you are entertaining a competitor

10. CUT BACK ON SUPPLIES

Trim down on supplies, like copy paper and pens, by ordering only enough to get by.  Also inquire about cost savings and discounts before purchasing supplies and use an office supply company that can deliver within 24 hours

11. COLLECTION COMPANY

The front office should always ask ‘How will you be paying?’ instead of ‘How much can you pay today?’ or ‘When can you pay?’ in order to get a solid commitment

12. LET PATIENTS SCHEDULE THEIR OWN APPOINTMENTS ONLINE

By allowing patients to schedule their own appointments, you will reduce support staff’s phone time, allow scheduling any time of the day or night and give patients automatic reminders two days before their appointments.  Additionally, patients will love the immediate confirmation they will receive after scheduling themselves

13. TAKE ADVANTAGE OF FREE ADVERTISING

Social media and online ratings are two forms of free advertisement that are easy to manage.  On Facebook and Twitter, post health related news articles and promote your physicians and their work.  Then encourage patients to give online ratings on your website. (remember #8 Above)

14. OVERHEAD CAN BE TOO LOW

  • Not all cost cutting is good, pretty soon you’re cutting muscle, and then you’re reducing productivity
  • Benchmark your revenue and overhead by category to identify your high and low outliers

15. BE AWARE OF INTERNAL CONTROLS

Finally, make sure that once you have made your money-saving cuts the money stays within your practice.  Don’t let money illegitimately leak out the door

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