Retailers and restaurants aren’t the only businesses that took a financial hit during the pandemic; small private practices in the U.S. also report steep declines in revenues. Within a few weeks into the pandemic, nearly 97% of the 724 medical practices surveyed reported a financial blow.
As medical practitioners deal with rising operational costs and administrative burdens in today’s competitive healthcare space, they need various tools at their disposal to keep their practice profitable.
Experts believe that maintaining profitability in the healthcare industry requires medical practitioners to create a balance between practice management and patient care. If they don’t keep up with the fast-paced technology-focused environment, they might end up losing control of their workflow.
From a technological point of view, here are some ways medical practices can improve their bottom line:
1. Build an Online Presence
Seeing as 77% of potential patients consult the internet prior to booking an appointment, your medical practice’s online presence is crucial. If you don’t have a web presence, chances are that new patients aren’t going to find you.
In addition to building an engaging, professional, and lead-generating website, there are a few other things you can do to secure the top coveted positions in search results:
- Leverage local SEO in your online content to show up on Google’s local 3-pack and dominate local search results. This includes incorporating local keywords like “doctor near me,” or “family doctor near me” depending on your services.
- Put yourself on the map by claiming and optimizing your Google My Business Make sure you add relevant pictures of your practice and accurate contact information.
2. Encourage Online Reviews
Testimonials, reviews, and reputation management are a big part of healthcare marketing. Before making an appointment with you, visitors head to online review sites and social media platforms to learn what your previous patients have to say.
Therefore, encourage your staff and patients to add reviews on yelp.com, ZocDoc.com, or healthgrades.com. Also feature a reviews/testimonials page on your site that includes both first-party reviews—reviews that people have given directly to your practice—and third-party reviews, which are pulled off from sites like Google, Yelp, or Facebook.
3. Leverage Practice Management Software
Practice management systems (PMS) provide practitioners with a dynamic solution to coordinate all organizational processes through streamlined workflows. It’s a standardized system that allows you to maintain peak performance, minimize redundancies, reduce patient times, and help the staff operate smoothly and efficiently.
Additionally, you can use the software’s monitoring and reporting capabilities to integrate charting, billing, blood work patient reminders, and scheduling into a single platform.
Robust PMS provide practitioners all the necessary information at a glance, thereby automating the communication process, minimizing labor time, and eliminating bottlenecks.
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