After years of bipartisan support, the shift toward greater price transparency in healthcare made a lot of headway starting in 2019 when then-President Trump signed an executive order that required hospitals and healthcare facilities to publish their prices more openly. The idea behind this was that having healthcare facilities publish pricing lists would encourage competition that would in turn lower overall care prices and costs for consumers.
Fraud is one of those topics that no one really enjoys talking about. It can be uncomfortable to think that someone in your practice, even someone you are close to and believe you have a strong relationship with, would steal from you. But it happens. And you need to be aware of it because fraud and theft are far more common in healthcare practices than you might expect.
Even the most well-established practice can struggle to find ways to grow their business and acquire more patients. Oftentimes, this is due to budgetary constraints, especially in a market where profit margins can be thin and even more so for practices that are already overextended with new investments. However, there are plenty of ways to grow your practice without breaking the bank. In this blog, we will go over a number of cost-effective measures that you can employ to help grow your business.
When specialty practices expand their operations, they often run into challenges as they work to capture market share, bring in new physicians and increase revenue. The most successful organizations do some upfront planning as part of their expansion strategies to anticipate and address possible hiccups. Here are three tactics to keep in mind during planning to sidestep common growing pains.