In the competitive world of medical practice, it can be challenging to differentiate yourself and generate adequate revenue. In this episode, Joe Kenrick, Senior Consultant at Cutting Edge Lasers, joins the show to emphasize the importance of getting off the reservation and looking beyond insurance reimbursement to explore other revenue streams, such as ancillary income and cash pay patients. He encourages physicians to expand their minds and consider opportunities they may not be aware of, especially in the area of pain management, where alternative treatments can differentiate them from their competitors and attract new patients.
Listen in as Joe delves into the importance of being flexible with cash pay services, getting off the hamster wheel of more work for less pay, and scheduling time in to work on your practice. He provides valuable insights into how to generate more referrals and revenue, as well as the difference between a capital expense and a capital investment.
What You’ll Learn In Today’s Episode:
- The importance of being flexible with cash pay services.
- Why you cannot be tied to insurance payments.
- How to get off the hamster wheel of more work for less pay.
- The importance of differentiating yourself from other physicians.
- How often you should work on your business rather than in your business.
- The difference between a capital expense and a capital investment.
- How to get more referrals and generate more revenue.
Ideas Worth Sharing:
Resources In Today’s Episode:
- Joe Kenrick: LinkedIn
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