How Your Practice Can Make More Money in 2014

Is your practice looking for creative ways to make more money in 2014 due to the influx of patients from the Affordable Care Act?  Successful practices are using many different strategies to take advantage of this new business opportunity.

First, practices are adding appointment times and extending hours.  The old approach of closing the office for lunch and only seeing patients on limited days and times during the week may no longer be the best business model.  In order to capture the increase in patients, new office hours may be needed.

Practices are also finding new ways to accept more patients by hiring additional employees to assist with patient care.  In order to serve patients better, physician extenders such as physician assistants and nurse practitioners are needed as well.  It is not always necessary for the doctor to see each patient at each visit.  Successful practices are using a team approach to see patients more efficiently and effectively.

Additionally, practices are looking for partners so they may better serve their patients.  For example, some practices are affiliating with urgent care centers to extend the  continuum of care when their office is closed.  Medical centered homes are focused on caring for the patient 24/7 with extra attention to preventive care and meeting patient needs.  Having patient care navigators also may assist in directing the patient to the most efficient care possible.

All of these strategies plus many more will be necessary for successful practices to capitalize on the new insured patients seeking healthcare in 2014.

Tell us what strategies your practice is using to gain new patients in 2014? Share your ideas with us by clicking on the comment button below. We’d love to hear from you.

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