Overlooked opportunities to reduce practice expense

Overlooked opportunities to reduce practice expense

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While the full impact of the coronavirus on our healthcare system won’t be understood for quite some time, we are beginning to put together the pieces. It’s clear that independent practices were hit particularly hard. Practice revenue is down across the country, and as a result, many providers are seeking ways to reduce cost. 

 

A recent  Medical Economics article outlined 10 ways to reduce operating expenses. The list is helpful, but it does not include one commonly overlooked area: practice benefits. 

 

Most independent practices aren’t in the habit of reviewing their compensation and benefit offerings once they’ve been established. But doing so could uncover hidden opportunities for cost control. 

 

Through our independent partner network, MaxWorth can assist practices with an analysis of their current offerings to make sure they support the organization's most pressing needs. 

 

We believe that compensation and benefits should be aligned with organizational goals. When properly designed, the structure of your benefits could help ensure the longevity of your organization.  

 

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