Is your Medical Practice Trying To Do Too Much?

In a downturn in the economy, many practices are trying to cope with decreased reimbursements, dwindling patient visits and increased pressure to keep employees happy. They are either adding products or services, or trying medical marketing to target a new patient base.


So, if your practice is experiencing problems, it might be a good time to ask if you are losing focus or you are simply trying to do too much with limited resources? 


For many medical practices, 'marketing' is a bad word. They've never had the need to do marketing. The medical profession is about service to the community, it is said. But you can't serve if you can't eat. Times have changed. 


When your total revenue and revenue per patient has dropped and continues to drop without any good news in sight, what are you to do? Some medical practices have been stripped to bare bones, offering bare bones services. You work harder, longer hours, employee productivity goes down. You even postpone those much needed renovations, replacing a dirty carpet, dirty walls that can use a fresh coat of paint, watching every penny.


Some practices engage consultants to show them how to bring in more revenue, how to manage their practice more efficiently, how to manage collections and receivables. Some practices have resorted to medical marketing, healthcare advertising. The problem is, if not done properly, more dwindling resources go down the wrong path.


Lost productivity and wasted energy can lead to poor moral around the medical practice, which can scare patients off. 


Use technology that is inexpensive and already available to you such as EMR. Here are some strategies that can help:

1. Managing better patient care. Using ePrescription instead of paper.
2. Reducing appointment no-shows by optimizing appointment reminders
3. Streamlining Accounts receivables, even considering outsourcing your billing has been known to help.
4. Using Social media and social networks in the new age of internet, to promote your practice.
5. Creating a patient friendly website that can showcase providers, staff and facilities.
6. Producing Videos that put a real face to a brick-n-mortar practice

If your medical practice is trying to do too much, scale it back and see if you cannot identify areas that need improving. Involve all your employees. Sometimes they come up with the best suggestions. You can build your medical practice's name recognition. Over time, more people will seek out your medical practice; it especially helps if you offer something no competitor does, demonstrating technology savvy leadership such as using Electronic Medical Records, Internet and Social Media. Look at all your options, a balanced approach is often needed when running a business.