Owning a clinic involves increasing the bottom line and raising revenue, which means you need a steady patient flow. Unfortunately, the profitability of your medical practice is of no concern to your patients. They want the best bang for their buck, and with good reason.
So, how does one go about running a profitable and productive clinic? Like it or not, profit margins are the distinction between a flourishing and floundering practice. While dedicated patient care and word of mouth contribute to attracting patients, there are other doable approaches.
In this article, we’ll be exploring a few unexpected tips aimed at elevating productivity and raking in the money.
1. Improve Patient Satisfaction & Support
Did you know that acquiring a new patient is much costlier than retaining an existing one? Patient loyalty is crucial for practice growth, which requires providing the best experience to translate into revenue. Poor patient service not only damages your clinic’s reputation but could reduce patient retention and lead generation.
Besides medical care, ensure that your patients feel comfortable from the moment they walk in. You can keep a drinking water facility, reading materials or television in the waiting room. Remember to hold your staff accountable for implementing these strategies across the practice.
Work as a team to create benchmarks that measure effectiveness, then gather feedback from staff members to better assess your patients’ needs.
2. Use IT to Schedule Clinic Appointments
No one likes waiting at the clinic. Poor scheduling can derail a patient’s experience quick, simultaneously making you lose out on patients you could have otherwise accommodated. Thus, using a reliable IT solution will let you communicate to patients vis-à-vis appointment times and take walk-ins seamlessly during vacant slots.
Smoother operations equate to better patient satisfaction, higher revenues, and not to mention, a productive clinical staff.
3. Make Operational Changes in Your Clinic
To attract more patients without prepending operational and marketing expenses, try upselling or cross-selling. For instance, you can switch to a relationship-based model by offering a bundle of visits at a discounted price. You may also provide new services that complement current offerings, such as free follow-ups, analysing reports, etc.
4. Network with Allied Professionals
The medical field goes beyond doctors and nurses. We suggest networking with other medical care providers like pharmacists, physicians, pathologists and so on. An excellent network of allied medical services can support each other with references, perhaps even share knowledge and expertise.
5. Have Medication Delivered to You
When there are so many aspects to cover in running a clinic, expediency makes for productivity’s best friend. Sourcing your pharmaceutical needs, on the other hand, is anything but. Furthermore, manufacturers often encourage bulk purchases where your money would be tied down in stocks, causing difficulty making timely payments to your suppliers.
You can always seek out a reputable wholesaler, like Mayflax, which allows cash flow flexibility. Consumers will enjoy a wide array of affordable pharmaceutical products available for long-term delivery. That way, your healthcare team can focus on more pressing matters at hand.
Success is not without its investments. However, consistently employing these simple measures ensures you the returns you deserve in no time. Find out more about Mayflax’s services or contact us for more information.
