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Increasing Medical Practice Revenue

Increasing Medical Practice Revenue

January 4, 2019

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Increasing Medical Practice Revenue

Great ways to increase your practices revenue. We have over 40 tips that can help.

Top Ways to Increase Medical
Practice Revenue

You may already be doing some of these, but
chances are there are at least a few new tactics that could help
your practice’s financial health.
Interested in learning more about how to implement one of these
revenue tips? If there’s an included link, click to read more.

Patient Environment and Services

  1. Street Appeal —Make sure that
    the outside of your business is inviting to patients.
  2. Office Environment — Make your
    office user-friendly with services like free Wi-Fi, clean and
    comfortable waiting areas, and good reading materials.
  3. Reduce Wait
    Times — Long wait times can be a key reason patients decide
    to leave your practice, or go to the retail clinic down the
    street for quick consult
  4. Train Your Staff on Your Services — Customer
    service is key in healthcare. Train your staff to be
    polite, professional and engaging.
  5. Expand Your Medical Services —
    Consider adding alternative medicine and therapy to
    your office’s list of service. Medical massage,
    chiropractic services, or even a nutritionist 
    helps differentiate you from your competition.

Customer Feedback

  1. Encourage Online Reviews —
    Positive reviews drive new patients to your door. Encourage
    patients to leave comments on review sites like Yelp!
  2. Master Social Media — Start
    conversations and engage your clientele on social media.
  3. Become a YouTube Content Creator
    — Videos help people understand topics like women’s health,
    dieting, and medication.
  4. Create Authority Through Content
    — publish articles in journals or write a book. Or just start
    small with a few blog posts on your practice website or
    another medical site. Being an authority drives new patients
    to you.


  1. Expand Your
    Online Presence — many new patients are looking for new
    doctors by searching online.

  2. Compete Using Your Strong Points — Use quality service
    as a weapon against cheaper prices.
  3. Update your Practice Website —
    create a custom page that highlights your strengths. Avoid the
    cookie cutter templates and fill your site with helpful links
    to articles you’ve written, social media, and YouTube.
  4. Use Technology to Attract
    Younger Patients. Millenials want more convenient,
    tech-integrated healthcare. Try offering online appointment
    booking, virtual visits, text reminders, and optimizing your
    patient portal.
  5. Create an
    Online Library — Encourage patients to read care sheets by
    making them available online.


  1. Encourage
    Wearable Products. Brush up on mHealth — Wearable technology
    is a driving force in healthcare.
  2. Patients are
    interested in using technology to better manage their
    health. Showing you’re up on the trends will get you
    happier, healthier patients who are impressed with your
    level of service.
  3. Change with Technology — Offer the best
    services with new equipment.


  1. Affordable Patient Education
    Classes — Target your audience such as diabetics, dieters,
    people trying to stop smoking, etc. Some classes may be
  2. Expand Appointment Options — Can
    you offer weekend or evening appointments at your office?
    Could you supplement in-person visits with virtual care in the
  3. Consider Wellness Clinics —
    Group visits and clinics help raise ROI for you and your

Care and Interaction

  1. Encourage Boosters — Flu shots,
    school vaccines, MMR’s are all easy money. Try sending out an
    email campaign to patients with reminders to get all their
  2. Embrace Medicare — There are a
    lot of services that Medicare covers such as DME, diabetic
    supplies, etc.

Your Community

  1. Partner with other Vendors —
    Partner with a local gym so your patients get a discount for
    getting healthy. That is a marketable service that draws in
    more patients.ditions.
  2. Lease a Classroom — There are
    plenty of other professionals that would lease a classroom
    from you. Yoga is a good example.
  3. Add a Cash-Pay Side — cash
    services are a big business. Try offering additional services
    that may not be covered by insurance, on a cash-pay basis to
  4. Work-Related Services —
    physicals, drug screens, health screenings for employers,
    insurance companies, and government agencies can be a great
    way to get more business and find new patients.
  5. Renegotiate Payer Contracts —
    Review and renegotiate your rates. Add new ones at least
  6. Evaluate Scheduling — You want
    to see as many patients as possible, but you don’t want to
    downplay quality.
  7. Refills by Virtual Appointment —
    Instead of calling in prescription refills, do them via
    virtual visit with patients so you can charge for the service!
  8. Your Ideal Patient Persona —
    Learn what your practice’s ideal patient is and then focus
    marketing to that target audience.
  9. Expand Your Medical
    Services — Consider adding alternative medicine and
    therapy to your office’s list of service. Medical
    massage, chiropractic services, or even a
    nutritionist  helps differentiate you from your
  10. Give
    Back — Donate some time or sponsor community groups that are
    improving healthcare. The goal is to get your name out


  1. Buy Rather than Lease — Evaluate
    your financials and the location and see if you can buy. Rent
    can be a huge cost, and money that’s not going towards any
    future investment in your practice.
  2. Bill for Missed Appointments —
    No-shows cost your practice money. Institute a cancellation
    policy and charge for these.
  3. Go Digital — Cloud-based storage
    saves doctors thousands of dollars each year. Go digital!
  4. Review Billing — Submit bills
    daily, follow up on denied claims, do not let revenue sit out
    in unpaid claims.
  5. Check Insurance Often — Copy
    insurance cards and verify the insurance is up-to-date at the
    time the appointment is made, to avoid any billing headaches
    later on.
  6. Let Patients Pay Online  —
    If patients have a way to pay online, there’s less likely to
    be a delay in payment, or a case of the bill getting lost in
    the mail.
  7. Hire More Staff — Avoid overtime
    and offer flexible hours or shifts.
  8. Evaluate Your Marketing Strategy
    — Make sure that your marketing metrics are measurable. Get
    rid marketing that does not have a positive ROI.
  9. Consider Outsourcing — Is it
    cheaper to outsource some office work?
  10. Join a Purchasing Club — Save on
    office and cleaning supplies.
  11. Pre-certification — Make sure
    you have authorization on all services over a specified dollar
  12. Government Contracts — Apply for
    contracts that bring patients into your practice.
  13. Review Your ICD-10 Codes — At
    least monthly make sure you have the correct codes.
  14. Collect Co-pays and
    out-of-pocket expenses at the time of service.

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