
You’ve probably heard the expression “like a leaky faucet.” Picture your medical practice’s revenue being lost due to a leaky faucet instead of being captured because you have a water-tight pipe. At the very least, you’d put something under that leaky faucet to catch that otherwise lost revenue, right? To plug leaks and boost the bottom line for your medical practice, you have to focus on profitability as well as patient care. You need solid policies, procedures and training — along with regular reinforcement — to motivate virtually every staff member to help you capture and collect most of the revenue generated by your practice. You do not need a leaky faucet. Likely there are more revenue leakage sources than you’d care to read about today. So let’s look at three of the most valuable holes to plug.