When we talk about taking care of the environment, we’re usually referring to the outside world. However, with most of us spending the majority of our lives indoors – especially now – we should really be considering the value of a healthy built environment.READ MORE
COVID-19 has reshaped the world at large – and also how medical practices offer care for patients. Telehealth and virtual care have become key in providing treatment for patients with COVID-19 and non-COVID-19 related ailments. Efficient, affordable, and easy to implement, they promote social distancing, protect providers and patients, and free up valuable hospital resources for those who need it the most.READ MORE
Online patient portals are quickly becoming a central part of the healthcare delivery experience. While some providers may be hesitant to introduce them due to the costs and learning curve involved in a new technological implementation, they offer myriad benefits to both patient and provider.READ MORE
Physicians and medical practices looking to attract new clients and develop loyal patients need to understand how patients work. Patients typically wait until they’re sick before they select a provider.
So, whoever they see for this season’s flu will likely be who they return to for other services. Where a patient receives important episodic care influences and often decides where they’ll go for a mammogram or a physical. Given they had a good experience, of course.READ MORE
The novel coronavirus (COVID-19) continues to spread across every populated continent. With widespread outbreaks throughout the US, counties, cities, and states are taking powerful mitigating steps to “flatten the curve.” The aim of the measures, which include “social distancing” and working from home, is to help spread out the impact of the virus to avoid overwhelming our hospital systems.
However, these measures have had a substantial economic impact on businesses across all industries, including medical clinics. Fearful of potential exposure, patients are avoiding seeing their physicians. Others are relying heavily on telemedicine, which has traditionally had stricter reimbursement requirements. The result is fewer patients and less revenue – although the bills continue to arrive as usual.
Here’s what medical practices can do to help keep the lights on until we find ourselves on the other side of the exponential part of the curve.READ MORE
We’re all familiar with mixed-use developments: large spaces that meld different types of buildings, and which function as a sort of community hub drawing people from all walks of life. While these sorts of developments have long been associated with commercial, retail, and residential spaces, we’re increasingly seeing the same principles being applied to medical office buildings (MOBs).READ MORE
Is your practice considering merging with or acquiring another medical practice? You’re not alone. We’re seeing it happen across the board, from university systems to localized specialized physician groups working together to provide the right care to their patients. Medical practice consolidation is a great way to generate more revenue while combining overheads and reducing costs.
Let’s explore why medical practice consolidation is a hot trend.READ MORE
Every medical practice’s primary focus should be on providing the best patient care possible. Unfortunately, staying profitable can be another central challenge for medical practices. And while it’s a little counter-intuitive, to remain profitable, sometimes patient care can fall to the wayside.
Especially in today’s ultra-competitive landscape, as you may be dealing with administrative burden and rising operating costs, you need to optimize all of your strategies.READ MORE
In recent years, we have seen increasing demand and need for medical care and office space. One of the main drivers of this demand is the aging population– largely, the aging baby boomers. The other main driver is the increasing popularity of delivering healthcare outside of hospitals, which is known as outpatient services.READ MORE
According to the Department of Labor, the healthcare industry is set to grow 14% through 2028 – faster than any other sector. The reason for this is twofold: an aging population, along with a greater demand for medical care.
While this is potentially excellent for the bottom line of your medical practice, it brings with it some challenges: namely the recruitment and retention of staff in an increasingly competitive sector. Rapid industry growth means not only will medical offices face a possible staff shortage but retaining existing staff may become more difficult. With human capital being one of the highest costs of running a medical practice, it pays to be mindful of both how you recruit and retain staff.READ MORE
In today’s competitive medical landscape, your hospital needs to be able to differentiate itself from other providers. Effective market positioning can have a powerful impact on how your business is performing, attracting new patients, evolving your patient mix, and drawing high-performing doctors and employees.
You may already have a brand position in mind, but before embarking upon a brand overhaul or marketing campaign, it’s vital to undertake a market analysis. Review what your competitors are doing, and gauge how the public perceives you. This will help you identify potential gaps in the market, as well as determining what needs to be done to separate you from competing hospitals or clinics.READ MORE
When was the last time you renegotiated your lease for your practice? Have you ever? How’d it go?
Negotiating your lease to fit the needs of your healthcare practice is a key component of running a successful practice. Lease terms, whether during the entrance of a lease or a renewal, should always be seen as a starting point.
Confidently renegotiating terms can lead to lower lease costs, open doors for an expansion of your practice, money to update your space and more. Knowing how to avoid these lease negotiation pitfalls will allow you to negotiate without fear.READ MORE