Answers to common questions from our users
Are you one of those people who thinks all you need to do to make more money in your practice is to see more patients? You’re not alone. That’s a common misconception. I get the question all the time from practitioners, “How come I’m not making more money when I’m seeing more patients?”
If you don’t have a good analytics program, it can be really hard to understand what’s going on when you see your exam count rising, but your revenue falling. It’s one of the most important things about EDGEPro, however – that it gives you the ability to look at where your revenue is generated, so you can actually see what might be impacting the cash stream.
There’s a very important relationship between your revenue per exam and your overall cash flow. You need to be able to “peek under the hood” so you can see which patients may be impacting those high-impact KPIs (Key Performance Indicators). In this short tutorial, I’ll walk you through a basic revenue source analysis so you can identify where your revenue may be leaking out of your business instead of dropping into the bank.
EDGEPro has a lot of handy features to help you dig in to your data. Using a real-world practice example, I’m going to walk through a brief review of managed care patients and co-pays. We’ll also take a look at the discretionary services our patients used and how that changes our revenue picture. We’ll uncover the reason that this practice was seeing more patients, but collecting less revenue.
You can use these techniques to look at your own revenue and exam performance, and develop a healthy understanding of how your sales, your patients and managed care plans are contributing to your cash flow.