Our CEO, Ty Allen, recently published a two-part series in Forbes on saving independent medical practices.
The healthcare industry has experienced increased pressure over the past year and a half due to the Covid-19 pandemic. Independent medical practices have been hit hard, facing tough decisions on how to meet patient needs and keep their doors open. They struggle to remain independent, but their importance to society and the healthcare industry cannot be overstated.
Ty’s two articles introduce proven strategies medical practices can implement to secure their independence in spite of the current situation with the pandemic.
The first article, Saving the Independent Medical Practice: Fortify Your Income, covers four steps any practice can take to fortify existing patient income in the following ways:
- Combine forces for more purchasing power.
- Extend office hours in creative ways.
- Negotiate better reimbursement rates from insurance companies.
- Keep medical coders and billers up-to-date with frequent training opportunities.
The second article, Saving the Independent Medical Practice: Focus on Growth, delves into four ways medical practices can attract new patients to drive growth:
- Improve online visibility to get seen in search results.
- Attract high-value patients with predictive analytics and targeted ads.
- Focus on patient satisfaction.
- Partner with or hire experts who know how to get results.
Taking these steps to improve their profit margins and put the latest technology to work will help independent medical practices grow effectively so they can remain independent.
Set up a demo to see how we can help you remain independent.