CLOSE

Specials

  • Other
  • Healthcare Consulting
  • Revenue Cycle Management

I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

Skip to: Curated Story Group 1
healthcarebusinessreview

About us

Solutions/Services Providers

  • Home
  • News
  • Contributors
  • Magazine
  • Conferences
  • Newsletter

Nominate a Company

Our subscribers nominate the companies with whom they have collaborated and gotten results. If you think there is a company that deserves to be on our upcoming prestigious annual list of Top HealthcareBuisness companies, please write to us about them and the reasons you think they need to be on the list

* 

Thank You!

checkmark

Your nomination request for upcoming annual list of "Top HealthcareBuisness Companies" has been Successfully Sent . We will be in touch with you shortly.

Data not inserted

Thank you for Subscribing to Healthcare Business Review Weekly Brief

  • Home
  • News

Recommended picks

How Digitalization Brings Revolution in the Way Healthcare Payment Systems Operate?

How Digitalization Brings Revolution...

HealthLynked Partners with athenahealth to Provide Improved Patient Experience

HealthLynked Partners with...

Advantages of Software Testing in Healthcare Sector

Advantages of Software Testing in...

Transform into a Smart Hospital with a Health Monitoring System

Transform into a Smart Hospital with...

How AI Turns a Boon to the Healthcare Industry

How AI Turns a Boon to the Healthcare...

Health Monitoring System Can Help Hospitals Become Smarter

Health Monitoring System Can Help...

How to Select the Right Identity Management Solution for Healthcare

How to Select the Right Identity...

How to Leverage AI in Healthcare

How to Leverage AI in Healthcare

How Digitalization Brings Revolution in the Way Healthcare Payment Systems Operate?

How Digitalization Brings Revolution...

HealthLynked Partners with athenahealth to Provide Improved Patient Experience

HealthLynked Partners with...

Advantages of Software Testing in Healthcare Sector

Advantages of Software Testing in...

Transform into a Smart Hospital with a Health Monitoring System

Transform into a Smart Hospital with...

How AI Turns a Boon to the Healthcare Industry

How AI Turns a Boon to the Healthcare...

Health Monitoring System Can Help Hospitals Become Smarter

Health Monitoring System Can Help...

How to Select the Right Identity Management Solution for Healthcare

How to Select the Right Identity...

How to Leverage AI in Healthcare

How to Leverage AI in Healthcare

Tips to Augment Medical Practice Revenue

By Healthcare Business Review | Wednesday, December 30, 2020
Tweet

With 72 percent of patients now consulting the internet for healthcare data and 62% using online reviews to find new doctors, an online presence is critical for medical firms. Chances are if the practice is not online, many new patients will be unknown.


FREMONT, CA: In present day’s competitive healthcare space, if one is dealing with crumpling organizational burden and increasing operating costs, they need every tool at disposal to keep the practice profitable. Below are a few strategies that can have a powerful impact on the bottom line, with just a little bit of time or cost investment.


Build an Online Presence


If a business does not already have a practice website or any online presence, it is falling behind. With 72 percent of patients now consulting the internet for healthcare data and 62 percent using online reviews to find new doctors, an online presence is critical for medical firms. Chances are if the practice is not online, many new patients will be unknown.


Besides building a practice website, one can also submit their practice to online directories, create the profile on the major review sites, and get a social media to account up for the practice. 


All the steps will help businesses come up in search results.


Enhance the Patient Collection Strategy


A patient collection is an ongoing challenge for many doctors, particularly with the rising number of patients on high deductible insurance plans. 20 percent of most medical practices’ revenue comes from patient co-pays, and yet most physicians only collect 60 percent of what is due. If it is a massive hurdle for the practice, it could be worth it to hire a collection agency. Or else, one can re-evaluate the overall collections strategy and make some of the changes to the billing practices.


Offer After-hours Virtual Visits


Additionally, doing after-hours patient visits is one method to increase medical practice revenue. One can fit more appointments into a day, compete with nearby practices, which are only open 9-5 pm, and keep patients in their practice with convenient scheduling options. Doctors can also offer after-hours visits from home or replace the urgent patient calls with reimbursable video visits. With this change, practices can increase patients, recapture lost revenue from uncompensated time, and maintain a work-life balance.


Weekly Brief

loading
> <
  • Other 2021

    Top Vendors

    Current Issue
  • Other 2020

    Top Vendors

    Current Issue

Read Also

How Digitalization Brings Revolution in the Way Healthcare Payment Systems Operate?

How Digitalization Brings Revolution in the Way Healthcare Payment Systems Operate?

HealthLynked Partners with athenahealth to Provide Improved Patient Experience

HealthLynked Partners with athenahealth to Provide Improved Patient Experience

Advantages of Software Testing in Healthcare Sector

Advantages of Software Testing in Healthcare Sector

Transform into a Smart Hospital with a Health Monitoring System

Transform into a Smart Hospital with a Health Monitoring System
How AI Turns a Boon to the Healthcare Industry

How AI Turns a Boon to the Healthcare Industry

Health Monitoring System Can Help Hospitals Become Smarter

Health Monitoring System Can Help Hospitals Become Smarter

How to Select the Right Identity Management Solution for Healthcare

How to Select the Right Identity Management Solution for Healthcare

How Anesthesiologists can Optimize Revenue Cycle

How Anesthesiologists can Optimize Revenue Cycle
Loading...

Copyright © 2021 Healthcare Business Review . All rights reserved. |  Subscribe follow on linkedin

This content is copyright protected

However, if you would like to share the information in this article, you may use the link below:

https://www.healthcarebusinessreview.com/news/tips-to-augment-medical-practice-revenue-nwid-29.html