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How To Gain More Profit In Healthcare Without Sacrificing Quality Of Services

Running a healthcare-focused business can be tricky. The quality of your services offered is of the utmost importance if you want people leaving your offices healthy and happy; high-quality work is essential if you want to develop loyalty among returning patients and encourage word-of-mouth recommendations of your work. All this being said, you’re also running a business, and this means you need to think about a whole slew of non-health factors, including profit. The following will explore a few things you can do to help your business thrive and grow without making sacrifices in the quality of your work.

Marketing Strategy

If one of the reasons you’re not thriving is a lack of patients, a new marketing strategy might be able to help you out. This is especially key for businesses that have long stretches during the day with no one visiting the office. In particular, marketers from Inbound Medic recommend developing a patient-generating system. This might include content marketing, whereby you produce content that answers common questions in your field people might have, updating your website, improving your paid marketing schema, especially your ability to measure how effective targeted ads are, and focusing on search engine optimization.

Data Security

While you might not immediately link data security to profits, you need to understand how much a hack can cost you. Nearly seven billion dollars was lost last year due to cybercrime, and the rates of hacking and other means of data theft are only expected to grow. To make matters more severe for you, medical businesses are commonly targeted because of the vast amount of personal information they collect. Beyond this, companies that have had serious cyberattacks tend to lose potential patients and customers, and people are beginning to wake up to the importance of data security. Take the time to make sure yours is top-notch. You could lose an insane amount of money or even have to completely shut down for days or weeks if an attack is intense enough.

potential patients and customers

Employee Satisfaction

When you have top-tier employees, you want to keep them. All across the western world, people are leaving their jobs; the action has been so swift that the media has begun to term this event the great resignation. Keeping stellar staff will help keep your quality of service ideal; it will also save you a ton of time and money associated with hiring new staff and training them. Focus on providing an environment that is healthy and conducive to wellbeing:

  • Humans need windows in order to get natural light while indoors; no windows can produce symptoms of depression
  • Including plants in the workplace where you can (staff room and waiting room) improves air quality and boosts mood
  • Have reasonable hours that are predictable enough that staff can develop daily schedules and keep their circadian rhythms optimal
  • Offer people appropriate benefits so that they don’t need to worry about things like the exorbitant cost of a chipped tooth while they’re supposed to be working
  • Cultivate an environment where chatting with colleagues is acceptable
  • Avoid micromanaging

Track Supplies

One of the easiest ways to trim your costs down a little is to track supplies. Knowing how quickly you use up things like pens, paper and staples can help you plan ahead and order supplies in bulk. Tracking also discourages staff from mindlessly digging another box of pens out of the supply closet when there are probably fifteen in good condition floating around inside their desk.

Ask Your Staff

If you have people who have been working for you for a while, chances are they see things you don’t. In a business, everyone has their tasks, and often, they don’t look too closely at other people’s work unless it affects theirs. Ask your staff about redundancies or areas of waste. They might surprise you.

Expand Your Hours

Contrary to the first point above, if you find your appointments full for the foreseeable future and seem to be losing potential patients because of this (not everyone wants to wait three months for a consultation), you may want to look into expanding your office hours. Yes, you’ll have to hire new staff so that the hours can be covered, but if people are looking to your competitors because you’re fully booked, expanded hours can turn into business growth. Of course, be sure to do adequate market research to ensure you’re selecting the right hours.

The above list should have given you a few ideas about how you can increase your profits without sacrificing the quality of your work. It’s a good idea to revisit these concepts every few months to see if things have changed or if there’s room for improvement.

The founder and CEO at ThriveVerge, The Verge, and Thrive Revolution. He launched Thriveverge in 2016, a leading behavior change technology, business, media, and entertainment company with the mission of ending the collective delusion that burning out is the price we have to pay for success.


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