Captainships Help Create a 85% Revenue Jump

~

Challenge

Revenue in 2017 was down by 44% due to the owner-operator struggling to run two offices and experiencing a drop in patient opportunities. With the addition of the second location, daily operations had become too great for the owner to handle. Further compounding the difficulties, members of her team were not communicating effectively with each other.

Solution

After an on-site assessment, Audigy’s Strategic Business Unit (SBU) helped develop captainships for team empowerment and accountability. Individual captains were identified for opportunity data, patient billing and collections, financial performance, and key performance-indicator analysis.

Results

Practice revenue increased 85% and opportunity flow doubled over the prior year. The business was able to hire a second provider to help manage both offices. With greater clarity around the opportunity data, the staff now thinks ahead when looking to book appointments for the following month and can better identify gaps throughout the month.

Feedback and follow-up were crucial parts of the process:

  •  Captainships were established within two weeks, after which the team spent the next two months refining the look, feel, and details of captainship reports. This was crucial to striking a balance between providing the owner needed data for decision-making and avoiding information overload.
  • All captains reported directly to the owner, with weekly updates to keep the owner
    apprised, reinforce communication within the team, ensure the practice hit its budget target, and allow staff members to achieve their compensation plans

Established best practices that have made their physician-referral program a huge success.

Keep the physician informed:
After seeing one of the referred patients, Joyce will take the opportunity to pop into a physician office to deliver the hearing report that we have written.

Have the right physician-referral marketing materials: 
Joyce takes inventory of the existing marketing materials prior to each physician visit and works with our Audigy marketing creative team to brand needed collateral and materials. Examples of things we bring to each office visit:

 

Ready to get these types of results?

Speak to our team about Audigy membership benefits and see how we can help your practice