Hey there, and welcome back to the Nextech video blog! Today we're discussing a few tips for improving your practice profitability.
First and foremost, you'll want to consider your current payment practices. While offering a number of co-pay options and procedures to your patients may make you slightly more flexible in their eyes, it could be hurting your bottom line. Requiring payment at the time of service is a great way to make your revenue streams more reliable and consistent, which will boost your profitability over time, according to Medical Economics.
The way you use your EHR software can be beneficial to your profitability, as well. For example, credit card processing can be easily and seamlessly integrated with Nextech's EHR and can help you directly track and account for your patient revenue streams.
Thanks for watching, and see you next time!