A Boost in Revenue By Creating Efficiencies Throughout Practice Departments

Challenges Facing the Practice

A midsize Northeast ENT and neurotology practice offered a full range of diagnostic and treatment options including hearing aids, cochlear implants, balance assessment, and personal sound amplification products but wasn’t reaching its full revenue potential. Some of the practice’s processes, operations, and team culture needed retooling to help the business and its people achieve their goals.

Goal

Help the practice address key areas — cultural, operational, marketing-related, and financial — to help drive greater success, increase revenue and profits.

Results

Between 2017 and 2018, the practice’s hearing aid revenue jumped 13%.

Solution to achieve the results:

Creating a culture for growth

  • Assisted the director of audiology in navigating internal conflicts that preventing the practice from attaining growth goals
  • Supported bimonthly staff meetings between audiology director and staff to address progress on 2018 financial goals, the department’s overall strategy, and execution of tactical plans
  • Established monthly check-in sessions between Audigy Medical and the audiology director
  • Built a framework to support efficient and productive quarterly business meetings among the audiology director, physicians, and practice administrator
  • Created a new career-advancement path for a key employee and implemented a series of professional development coaching sessions to groom them for a new practice-administrator role

Standardizing operations for a more efficient practice

  • Helped create a standard of care for hearing aid patients, including an audiology recommendation form to ensure scheduling of hearing loss patients and objective and subjective criteria
  • Completed a capacity analysis to understand how many hearing aid evaluations can be conducted monthly, given the practice’s current diagnostic and scheduling demands
  • Assisted the audiology director with operational reporting and key performance indicators for physicians
  • Trained entire staff on minimizing attrition and positively impacting outcomes for hearing aid patients
    • Helped establish duplicable processes to ensure consistent care across all audiologists
    • Mapped patient-flow process to identify areas for improved efficiency and effectiveness among front-office staff, billing, and administration — from patient arrival to checkout
    • Created protocols to assist with patient scheduling and the handoff between physicians and audiologists
  • Developed unique practice collateral in support of the new process
  • Helped the practice streamline technology and data collection, including EMR, patient portal, intake forms, and more, as well as identify next steps to complete EMR transition

Built and launched a comprehensive marketing plan

  • Created an annual marketing plan for the practice
  • Built patient and in-office collateral branded to the practice and reflecting its unique value proposition
  • Enrolled the practice in Audigy Medical’s Digital AMP service for greater online engagement
  • Enrolled it in the monthly e-newsletter program, which is performing well for the practice
    • Features data-driven campaigns designed to educate the practice’s patients
    • Audiology director determines content, with Audigy Medical providing practice-specific data analytics and monthly return-on-investment reporting
  • Developed the website, including creating and hosting it, ensuring a positive digital presence, and making timely changes to ensure fresh content and drive traffic
  • Developed private-label and practice-branded battery program

Developed a finance plan and budgets for a profitable practice

  • Helped develop salary recommendations and bonus plans for audiology team
  • Developed budget for audiology department
  • Established mutual accountability for hitting financial goals

Your practice can achieve these types of results too

Contact the Audigy team today to learn more about the services and solutions we offer Medical practices.

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