As a clinic owner, you wear the revenue generation hat. Your regular dedication of time and focus is necessary to ensure that your service lines are not just operational but are actively generating revenue streams. Let's delve into the pivotal objectives and responsibilities that define the role of the clinic owner and explore how your front desk staff can play a central role in boosting your clinic's financial health.
Objective 1: Hit Peak Performance and Prevent Revenue Leaks
In clinic operations, hitting peak performance isn't just a goal; it's the heartbeat of sustainable revenue. To gauge your clinic's performance and prevent revenue leaks, ask yourself key questions:
- Do clinicians and front desk staff guide patients to book plan-of-care sessions in advance?
- Is there a structured process in place for patient fall-offs?
- Is the phone consistently answered at a rate of 95%?
- Are front desk personnel successfully booking 80% of new patient or assessment callers?
Tips:
- Ensure seamless communication between clinicians and front desk staff to encourage proactive appointment scheduling.
- Establish a foolproof process to address patient fall-offs and minimize disruptions.
- Invest in call tracking software to boost answer and booking rates.
Objective 2: Improve Operations to Plug Revenue Leaks and Grow Revenue
Operational enhancements aren't just about efficiency; they're the gatekeepers to revenue growth. By streamlining operations, you plug revenue leaks and open new avenues for income. Consider the following strategies:
- Embrace a paper treatment plan to reduce patient fall-offs.
- Leverage text messaging for appointment reminders.
- Use call tracking software to enhance answer and booking rates.
- Implement a clinician-assistant model for optimized efficiency (where clinicians work alongside trained assistants to optimize patient care and streamline clinic operations. In this model, physiotherapists focus on assessments, treatment planning, and interventions, while assistants provide support in various tasks, allowing clinicians to maximize their time and expertise).
Objective #3: Create new lines of business ($)
Diversification is a strategic imperative for financial resilience in the ever-evolving healthcare landscape. To attract fresh revenue streams, explore untapped potential in new lines of business:
- Add employer services, taking charge of a company’s health and wellness program to increase assessments, pre-employment testing, post-offer employment testing, etc
- Introduce new specialties such as Shockwave, bracing, orthotics, concussion, pelvic health, vestibular, mental health, and pain management.
- Consider affiliations with larger network companies for increased MVA, WCB/WSIB referrals.
Objective #4: Crossover as a way to generate leads from one service line to another
In the interconnected world of healthcare services, cross-referrals help patients seamlessly transition between different specialties. To enhance your lead generation, prioritize practical crossovers:
- Generate cross referrals from one service line to another
- Create processes and procedures for a team-based approach to care and recovery
The Role of Front Desk Staff in the Revenue Ecosystem
In the 'village' model of clinic management, envision your clinic as a tightly-knit community where every team member plays a crucial role in the overall well-being. Unlike larger corporate structures, a 'village' model emphasizes a collaborative and interconnected approach to healthcare service delivery, recognizing that each staff member contributes significantly to the clinic's success.
This model might not have a designated Chief Revenue Officer, as often seen in larger organizations. Instead, it operates on the principle that every team member, including the front desk staff, becomes integral to revenue generation. Each role is purposefully designed with clearly outlined revenue responsibilities, ensuring that every staff member actively participates in the clinic's financial health.
The 'village' model is founded on believing that a clinic's people are its most valuable asset. The model fosters a sense of shared responsibility and accountability by positioning each team member to address challenges and capitalize on opportunities, including revenue-focused responsibilities.
In this framework, the front desk staff emerges as the linchpin of revenue generation. Their multifaceted roles include:
- Being the appointment wizard (part 1): Managing cancellations, reschedules, late charges, and appointment changes to optimize the clinic's schedule.
- Being the appointment wizard (part 2): Guiding patients to book their full plan-of-care sessions in advance, fostering compliance and reducing the likelihood of patient fall-offs.
- Contacting patients who have fallen off: Proactively reconnecting with patients to re-establish engagement and recover potential lost revenue.
- Answering 95% of phone calls: Ensuring high accessibility and responsiveness to patient inquiries.
- Making win-back calls: Contacting patients after missed calls and voicemails and calling back new patients who didn’t book on the first call
- Booking 80% of new patient or assessment callers: Maximizing the potential of initial patient contacts for increased revenue.
- Billing accuracy: Take charge of collecting payments, proactively avoiding errors that could result in future complications. Conduct a weekly audit to preemptively identify and rectify any potential billing errors.
- Product sales: Being involved and having an incentive for product sales.
In the tapestry of a clinic, every role, especially that of the front desk staff, weaves into the goal of revenue generation. By empowering your team with clear revenue responsibilities, you position them to tackle challenges and seize opportunities, ensuring your clinic thrives in both service and profitability. After all, your people are your greatest asset, and by harnessing their potential, your clinic can reach new heights of excellence.
Blog Contributor:
Sanjeev Bhatia @ Clinic Accelerator
