Fine-Tuning Processes Increases Efficiency and Revenue by 29%

A university-affiliated practice in the Northwest experienced six years of flat or declining revenue. A cross-functional analysis revealed untapped potential across four dimensions of the practice.

In order to reverse the decline in revenue, Audigy Medical’s COPM-C certified consultants worked to fine-tune the practice’s existing processes among four key areas.

With a more operationally efficient practice, they saw revenue increasing. From June 2017 to June 2018, hearing aid revenue increased by 29%.

• Developed career pathways for each team member
• Bridged the gap between the university’s and practice’s performance metrics
• Implemented best practices to move patients from diagnosis to treatment

• Helped create a standard of care for hearing aid patients
• Provided a data-driven analysis of the current monthly capacity for hearing aid evaluations
• Increased the hearing aid evaluation time to optimize the likelihood of a conversion
• Coached the department head on best practices for reporting

To ensure the practice brings in a consistent flow of the right patients, the Audigy Medical marketing team created a comprehensive marketing plan that included:

• Creating an annual marketing plan and budget
• Creating materials branding the practice and supporting the hearing aid leasing program
• Developing a digital marketing strategy, including paid search and a monthly e-newsletter

The Audigy Medical team did a complete financial review of the ENT practice to ensure pricing and compensation plans.

• Developed a hearing aid leasing program
• Educated the department on measuring the university’s key performance indicators
• Reviewed the budget and annual planning
• Analyzed the profitability of the current FTEs