NP Business and Trade Tip: Ideas to Diversify Your Practice Income
... valuable services to your patients while you increase your revenues. When evaluating any of these services, be sure to weigh your patients needs and of course, add value to their lives and experiences. Your Actions Steps: Assessment: Sit down and look at your practice income. Where does your income come from? Which payers are paying what percentage of your gross income? Additionally, if you have not already looked at your overhead do so now. How efficient is your office running? Where is the waste (which is in almost every office)? Brainstorm with your partners and staff different ways you can add services and/or ... squeezed in the middle these days. Reimbursement is being reduced (or rules are being made to reduce it) and overhead is rising. It is simple economics when it comes to having a profitable practice...more money has to come in than go out. There are many ways a practice can increase their income -- seeing more patients and reducing overhead are just two of the ways you can achieve this. Another is income diversification -- increasing the products and services you offer to your patients and clients. When exploring your options you will want to me familiar with the Stark Laws (basically, you cannot refer only ...
Tags: practice income | np business | offer valuable services | valuable services | Clinician | increase profits |
Tags: practice income | np business | offer valuable services | valuable services | Clinician | increase profits |