Fine-tune your practice with smart marketing
Your office schedule is jam-packed, with new patients waiting weeks or months for an appointment. If you don’t necessarily need to generate more business, should you invest in marketing your practice?
Yes, Keith Borglum, a practice management consultant, appraiser and broker, writes in Medical Economics.
Especially as the insurance landscape grows more complex, marketing that connects with the right people can help you earn more money for the same amount of work. “If you have too many patients and not enough net income, dumping the worst-paying most-hassling insurance plans will improve profitability even without switching to a concierge or retainer-style model,” Borglum wrote. “With good marketing, you can keep and convert many of those patients into out-of-network cash-payers who then become your most profitable, least-insurance-hassle patients.”
Read more: Fierce Practice Management