Implementing these ten simple billing rules will mean your practice is best positioned to recover from the impact of the Coronavirus. Simon Brignall has suggestions for independent practitioners to put in place.
To say that Covid-19 has had a detrimental impact to the independent healthcare sector is an understatement. Private consultants, GPs and clinics have seen a loss in income that varies depending on their specialty and patients treated.
To ensure this impact is minimised over the medium to long term, it is important that practices are best positioned to take advantage of any recovery. Here are ten simple rules to put in place to achieve this goal:
1 Make sure you spend as much time as possible focusing on your core skill set: treating and looking after patients
It seems obvious, but it is important to prioritise seeing and treating as many patients as possible, as the shutdown means there will be a pent-up demand for your services.
If you and your secretary can focus on the medical side of the practice, this will increase the revenues for the practice, because you are focused on what you do best rather than spending time on tasks that can be delegated.
Running a private practice is not easy and many tasks do not fall naturally into a consultant’s skill set. Take stock and consider what elements of your practice could be outsourced – enabling you to generate that all-important cash flow.
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