One Thing Medical Practices Can Do Immediately to Make More Money

Within the complexity of managing a healthcare practice, increasing revenue can feel like the number one priority for medical practice owners. With myriad factors influencing the bottom line, it’s easy to get overwhelmed with credentialing, charge capture problems, and claim denials.

However, there’s one fundamental strategy that can significantly boost your practice’s profitability and it’s totally in your control: improve your patients’ experience by offering that “wow” factor they don’t get anywhere else.

It might sound counterintuitive to focus on going beyond expectations with patient satisfaction when the goal is profit. But the truth is, happy patients are loyal patients. And loyal patients are the lifeblood of a thriving medical practice in so many ways, including a direct contribution to your bottom line.

An Outstanding Patient Experience Equates to Better Profits

Patient experience is a multifaceted concept encompassing everything from the moment a patient schedules an appointment to their post-visit follow-up. It includes factors such as:

• Accessibility: How easy is it for patients to schedule appointments, find your practice, and access information?
• Communication: How effectively do you communicate with patients, both in-person and digitally?
• Wait times: How long do patients wait in the waiting room and exam room?
• Staff interactions: How do patients feel about their interactions with your staff?
• Clinical care: How well do patients feel their medical needs are addressed?
  When these elements are optimized, patients are more likely to:
• Return for follow-up visits: Consistent, quality care builds trust and loyalty and contributes to better health outcomes. Healthier patients are happier patients.
• Refer friends and family: Satisfied patients are your best marketing tool for growth.
• Pay their bills on time: Positive experiences foster a sense of goodwill and motivates patients to pay their balances.
• Leave positive reviews: Online reviews can significantly impact your practice’s reputation and growth with social proof that your practice is the place to be.

How to Optimize Patient Experience

While enhancing patient experience involves multiple touchpoints, here are some fundamental strategies:

1. Empower Your Staff:

• Invest in employee training: Ensure your staff understands the importance of patient satisfaction and is equipped to handle patient interactions effectively. Give them the freedom and empowerment to solve problems.
• Get serious about a positive work environment: Happy employees are more likely to provide exceptional patient care. Invest in a clean and upscale clinic environment, with snacks and beverages for your hard-working crew.
• Recognize and reward outstanding performance. Have some parties, celebrate special days.
• Culture starts at the top: Look at the positive side of your business and ensure your managers are supporting their teams with ongoing training and regular updates.
• Hire people that have a positive outlook with good referrals about their work performance under pressure.

All of these ideas reinforce your commitment to patient satisfaction.

2. Leverage Technology:

• Implement patient portals: These platforms allow patients to access their medical records, schedule appointments, and communicate with your practice securely.
• Utilize appointment reminders: Reduce no-shows and optimize scheduling with automated reminders.
• Adopt e-check in technology and online medical forms to streamline new patient welcome experiences and check-in times.
• Streamline medical billing processes: Make it easy for patients to pay their bills.

3. Focus on Communication:

• Active listening: Truly hear your patients’ concerns and questions.
• Clear and concise explanations: Be intentional to ensure patients understand their diagnosis, treatment plan, and next steps.
• Follow up: The most powerful thing a provider can do to boost their “wow” factor is to reach out to patients after their appointments and check on their wellbeing.

4. Manage Wait Times:

• Optimize scheduling: Avoid overbooking to minimize wait times.
• Respect the patients’ time and keep to schedules as much as possible.
• Provide updates: Keep patients informed if there are unexpected delays. Research shows that patients are more forgiving when the front counter team keeps them informed on wait times.
• Offer distractions: Magazines, Wi-Fi, and comfortable seating can make wait times more pleasant.

5. Gather and Act on Feedback:

• Conduct patient surveys: Regularly solicit feedback to identify areas for improvement and act on it.
• Monitor online reviews: Respond to both positive and negative reviews.
• Implement changes: Respect patient feedback and make necessary adjustments to your practice.

Patients are the Bottom Line

While there are many strategies to increase revenue in a medical practice, optimizing patient experience is a foundational element. By prioritizing patient satisfaction, you’ll not only improve your practice’s reputation but also drive long-term growth and profitability.

Remember, every interaction with a patient, from scheduling to physician care and billing follow up, is an opportunity to create a positive impression.

UnisLink Can Help Improve Your Patients’ Experience and Satisfaction

By streamlining RCM processes, UnisLink will free up your staff to focus on patient care, leading to shorter wait times and improved communication.

UnisLink offers expert services in patient insurance verification and claims processing. This dramatically reduces billing errors and the likelihood of unexpected patient balances, leading to a more positive financial experience.
Our advanced technology such as electronic patient statements and online payment options provide patients with convenience and transparency.

Patients respond to our expert and friendly collection team which helps them understand their balances while offering easy options for payment.

By optimizing the RCM billing process and adopting advanced technology, UnisLink contributes to a smoother journey for your patients while helping your practice thrive and grow.

Contact us today for more information on how we can help you deliver outstanding patient care with a “wow” experience.