The Practice Resource: Ask an Expert
Question:
How can I optimize my practice revenue?
Answer:
When it comes to optimizing your practice revenue, the first thing to understand is that all patient volume is not created equal. Break down your case mix and payer mix to see how much you’re actually being paid by patient type and by payer so that you can target referrals with the highest return.
Also, reduce turnover in your patient base by ensuring that patients are not lost to follow-up, have a high satisfaction rate and are staying current with their recurring appointments. It costs more to bring in new volume than it does to keep the existing. Lastly, consider alternative revenue streams…