"80% of your business comes from just 20% of your patients"
That quote was pulled from a post on practiceprnciples.net tweeted to us by the TSO Network. The gist of post was simple, get to know your patient's, serve them well and learn them so you can identify more patients like them. Good optometric billing practices can help you identify profitable patients because you will learn which insurances cover the most services and reimburse the best. Properly billing these patients' insurances will help you earn repeat business from that patient and word of mouth by these patients will lead you to more patients like them!
It's no secret that many optometric practices derive sometimes 50% or more of their revenue from cash patients. This is not a viable business model because finding and serving these cash patients will require you to be in a region that supports that demographic, like one of our clients in Boca Raton, Fl. However, we serve many practices that operate on insurance only and are just as profitable, if not more profitable than their "mostly cash" counterparts. Why? Because learning and employing good optometric billing techniques has enabled them to provide ongoing, quality health care to the same patients AND their referrals...over 80% of thier income is from insurance alone and, when done properly is a highly efficient and dependable business strategy.
Call opticXpress today and learn how they can help you employ good optometric billing so you can begin identifying your most profitable patients right away!
opticXpress is an optometric billing company that provides a clearinghouse, billing service and software strictly for optometrists.
