The physician-owned orthotic and durable medical equipment service.
In recent years, orthopedic practices have been forced to create internal ancillary profit centers to help compensate for escalating operating expenses. Increased professional liability premiums and health care costs, coupled with decreased reimbursements, have made the development of these ancillary centers a necessity. Practices that assess and incorporate sound business policies in developing the entity, monitor its progression, and strive to enhance the overall offerings within the division will derive the most profitability. By following a structured plan, practices can maximize revenue potential and improve patient satisfaction and outcomes. This article describes how to construct and follow such a plan.
Bolesta
William A
WA
Orthotic Consulting Services, PO Box 646, Hampstead, MD 21074, USA. orthoticconsulting@comcast.net
D000554:Ambulatory Care Facilities / Q000458:organization & administration*; D004389:Durable Medical Equipment / Q000191:economics / Q000600:supply & distribution; D006801:Humans; D017146:Models, Organizational; D009985:Orthopedics / Q000458:organization & administration*; D009989:Orthotic Devices / Q000191:economics / Q000600:supply & distribution; D010067:Ownership; D011216:Practice Management, Medical