While this headline is facetious, it actually happens every day in medical practices all over the country. Doctors are trying to increase practice revenues, but they still mail off their lab samples to an outside lab. Their extra revenue is trapped inside that lab sample container.
In business, the most efficient way to increase revenue is to increase the number of services or products bought by your existing customer base. Increasing revenues without increasing patient count is the secret to growing profits without having to double your staff, referrals, and marketing budget. How does this work in Medical Practices and Clinics across America?
No doctor intentionally declines extra revenue for his/her practice, especially when that revenue aligns with their goals for patient care and well-being. However, every day, doctor’s offices draw blood for a lab sample and ship those samples off to a lab and wait for the results to post.
You did all the work to acquire that patient and draw their blood, but when you shipped that lab sample off to a 3rd party Lab, you mailed away your revenue and profit in that same envelope with the lab sample.
On average, medical practices that run their own lab in-house see an increase of revenue by $40,000 – 80,000 annually, assuming adequate volume of those tests. Don’t send that revenue to another lab. Keep it in house.
Our representatives and lab specialists consult with practices all over the country to help them grow their practice revenue without having to increase their patient count. Let us help you. Call us today. 1-866-451-6337
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