From seeing more patients to resolving partner conflicts quickly, these steps can help you cope with the new normal.
For practices with a high profit margin, losing a single contract, an important referral source or a key staffer is quite survivable. This is not the case with practices in the lower profit margins pertaining to their practice. Today, practices with these lower profit margins are often having to file bankruptcy.
These 12 steps can help boost profitability…
1. Boost Patient Volumes
2. Provide Missing Care
3. Right Size Staffing Levels
4. Close Operational Gaps
5. Look for a Merger Opportunity
6. Give up your Post-Op Afternoon Off
7. If You Don’t Have an Ambulatory Surgery Center, Become and ASC Owner
8. If You Don’t Already Dispense, Add an Optical
9. Hire An Optometrist
10. Expand Your Use of Premium IOLs
11. Resolve Partner Conflicts Quickly
12. Innovative Frugally
To read full detailed descriptions on each pearl listed above, visit the January 2014 issue in Opthalmology Management.