15 ways to increase group practice revenue without cutting staff
“When medical practice expenses creep too far into revenue, often a knee-jerk reaction is to cut staff. No practice administrator likes to lay off staff, so what can you do to keep them and their benefits? Find new ways to increase revenue. We’ve got 15 you can try:
- Place an ideas box in a well-trafficked spot for staff to contribute their thoughts on increasing efficiency and productivity. Discuss the ideas in a meeting, and choose one a month to implement. Promote healthy competition among staff by rewarding the employee with the winning idea.
- Convert paper explanation of benefits to an electronic format to save time on data entry.
- Renegotiate with vendors. To keep your business, vendors will find creative ways to save you money while still delivering value.”
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