130% Increase in Profitability for an ENT Practice

Discover how creating efficiencies lead to 130% increase in profitability for an East Coast ENT Practice.

Challenge

After a two-day on-site analysis of an East Coast-based ENT practice, the Audigy team identified key cultural, operational, marketing, and financial changes that could easily increase profits for the practice.

Solution

Audigy consultants focused on closing the communication gap, standardizing procedures, completing a financial review, and building out a complete marketing plan.

Results

After completing and implementing the strategic plan, the practice saw a 130% increase in profitability and a 30% increase in hearing aid revenue.
A team of professionals viewed from above, working at a table covered in printed charts, calculators, sticky notes, and a laptop.

To achieve optimal patient care and practice efficiency in an audiology clinic, it is essential to close communication gaps and standardize operations. Effective communication between departments, such as regular meetings between audiology and management, can significantly reduce friction and enhance overall practice performance. Additionally, standardizing procedures helps eliminate inefficiencies, ensuring consistent patient experiences and reinforcing trust in the practice. By addressing these critical areas, the clinic can operate more smoothly, improve patient outcomes, and increase profitability.

Closing the Communication Gap

The right meeting strategy will save your practice time, reduce friction between departments, and increase patient care and practice profits.

  • Weekly staff meetings between audiology department and management
  • Weekly meetings between physicians and Audigy to discuss execution of tactical plans and overall strategy

A Complete Marketing Plan

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

  • An annual marketing plan
  • Custom website design and development
  • A paid-search marketing campaign designed and run by Audigy’s Google Premier Partner team
  • An email-marketing program for contacting current and prospective patients

Standardize Operations for a More Efficient Practice

Inefficiencies and inconsistencies were identified that were creating confusion, duplication of work, and loss of trust between the patient and the practice. The Audigy team standardized key areas to resolve these hindrances.

  • Created a standard of care for hearing aid patients
  • Created audiology recommendation form to ensure scheduling of hearing loss patients
  • Completed capacity analysis to understand how many hearing aid patients can be seen
  • Developed plan for how physicians can transfer credibility to the audiologists for hearing loss patients

A Comprehensive Financial Review and Plan

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

  • Standardized value proposition created across practice locations and providers
  • Review of current pricing strategy
  • Compensation plan review and creation to help better align the plan with the goals and priorities of the practice
  • Breakeven analysis for audiology department

Audigy developed and supported the implement of a strategic plan that drove 130% increase in profitability and a 30% increase in hearing aid revenue.

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With Audigy’s practice-management solutions, we help ensure you use your time for what matters most.