Category: Practice Retail

FAQ – Medical Group Purchasing Discounts

  What is Medical Group Purchasing? Medical group purchasing is about saving money on what you already buy for your practice, simply by being part of a larger community—one that can negotiate wholesale pricing. There’s power in numbers! Hospitals, especially multi-location centers, take advantage of group purchasing organization (GPO) programs every day. They purchase under a single… Read More »

Medical Group Purchasing 101

If you have ever walked through the doors of a wholesale club like Sam’s, Costco, or BJ’s, you know group purchasing. However, group purchasing power for physicians is different than buying forty-gallon jugs of toothpaste. We are going to introduce you to the power of group purchasing for the medical community. Medical wholesaling isn’t focused on membership… Read More »

How Does Your Practice Score in the 7 Key Areas of Practice Development?

  After so many years in the industry, we have befriended many doctors who are great at focusing on the health of patients, yet struggle with practice development to improve their practices in the 7 key areas that matter most: Marketing Patient Engagement Finances Optimized Workflow Leadership & Staff Retail Products Supplemental Revenue/Referrals Power2Practice is… Read More »

4 Simple Strategies to Boost Profitability in Your Integrative Medicine Practice

If you are just starting out, get on the right track early by applying these 4 basic steps to get and stay more profitable and boost profitability in your integrative medicine practice! 1) Reduce denials by minimizing simple errors and/or missing documentation.  Staff members must be trained, skilled and precise. Build a checklist for staff members… Read More »

Increasing Revenue with In-House Dispensaries

Generating profits for a small practice can be much easier said than done.  Adding the hurdle of operating as a cash-based office makes the feat even harder to accomplish.  While many start-up practices are struggling to keep their doors open, providers are working overtime to figure out how to drive business on a consistent basis.… Read More »

Questions to Ask before Adding Additional Services to Your Practice

Today’s thriving private practice often has multiple service lines for patients to choose from.  While this is a common course of action for alleviating some of the financial stress practices often endure, it can also add to the burden if not approached from a methodical, analytical stand point. Before choosing to take on the sometimes… Read More »

Adding Ancillaries to Increase Profits

As the healthcare market continues to expand, many physicians such as primary care providers are beginning to enter the cosmetic and anti-aging arena, creating increased competition for aesthetic practices.  While the constant awareness of competition in the healthcare landscape is no new issue to the private practice, those vying for consumer dollars can increase their… Read More »

Small Steps to Improve Practice Earnings

The daily battle to thrive and grow in the private practice realm of healthcare can be a tough undertaking. Combined with the sometimes high cost of alternative methods of care and the need for more patients, staying afloat is a continuous process at the forefront of many providers’ minds. While many publications and medical insiders… Read More »