Overlooked opportunities to reduce practice expense

AdobeStock_335858033 [Converted]

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.  



If you would like to receive industry updates and articles like the one you see here, complete the form below

Something went wrong. Please check your entries and try again.

Want to Learn More?

Sustainable practice transition strategies could help alleviate burnout

Sustainable practice transition strategies could help alleviate burnout By: Kyle Worthy A recent study suggests that family practice physicians are especially at risk of experiencing physician burnout. Burnout is not only a mental health issue, it’s an economic one as well. Turnover and reduced clinical hours resulting from burnout costs…

Covid-19 Shines Spotlight on CEO Pay

Covid Shines Spotlight on CEO Pay By: Kyle Worthy As the healthcare industry reels from the impact of Covid-19, many are searching for cracks in the system that need to be fixed if we’re going to be better prepared for pandemics in the future.    Scrutiny on CEO pay  …

Regaining stability after the storm

Regaining stability after the storm By: Kyle Worthy Like many businesses, hospitals are slowly beginning to find their footing. After months of uncertainty and fear, many are seeking to return to normal. But the experiences of the last few months will stay with us for sometime.    Some clients have…

COVID-19 Update: Continuing to support our friends in healthcare

COVID-19 Update: Continuing to support our friends in healthcare By: Kyle Worthy In light of the ongoing coronavirus pandemic, we wanted to express our gratitude for our clients and friends in the healthcare community who are leading our nation through these uncertain times. We’ve always felt it was an honor to…