A primary care practice is finding it hard making ends meet. An obvious problem would be the number of patients each physician is seeing:
One of the reasons revenue might be sluggish, says Falkoff, is that the practice’s six physicians each see an average of 16 to 20 patients per day, rather than the 40 or so that would yield hefty profits. “Giving patients a lot of time is a cornerstone of our practice philosophy,” he says. “We need someone to take a look at our operation and suggest remedies other than seeing more patients.”
More revenue without seeing more patients? That’s called concierge medicine my friend.
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Maybe they could get their mitts on some of that crazy blog money. Or open a snack bar.
More revenue without seeing more patients? That’s called concierge medicine my friend.
Or it could be adding office procedures. Laboratory services. I can think of a whole bunch of ways to increase revenue per patient. Perfectly ethical stuff, really keeping services in-house, that were previously sent out.
But what caught my eye was the “concierge medicine” remark.
Kevin, please expand. If it is “concierge medicine”……so what?
They have too much staff, too much office space and probably a few lousy payors.
Thanks, I forgot to mention lowering overhead, often the quickest way to improve the bottom line.
“Lousy payors”. I agree. Either low pay, or so much hassle that the insurance is not worth it.
But if a practice drops Medicaid, Medicare, or other problem insurances, is there really any difference between what they do, and “concierge medicine” (whatever that means)?
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