Neil Baum, MD, and Jon Hultman, DPM, MBA Adding patient volume to a busy practice may reduce profitability, increase overhead costs, and lower the collection ration, especially when patient volume is increased as a result of discounting. Here are eight ways to increase profitability without increasing patient volume. Unfortunately, additional volume can have a negative impact on customer service, and if allowed to increase unchecked, can actually lead to declining profit. This problem is accelerated when an industry becomes more price-competitive and volume continues to increase as a result of price discounting.
Most physicians focus on increasing patient volume.
This problem is magnified when patient volume is increased as a result of discounting. In addition, volume growth lowers quality by reducing the amount of time available for each patient. An alternative to increasing patient volume is finding sources of non-patient care income. In a discount market, this an important strategy for doctors regardless of the patient volume. The following are strategies available to any physician who wishes to add income without increasing patient volume.