{"id":6691,"date":"2020-07-29T13:19:11","date_gmt":"2020-07-29T11:19:11","guid":{"rendered":"https:\/\/medicalmanage.gr\/10-ways-to-reduce-operating-expenses-and-sustain-your-practice\/"},"modified":"2020-07-29T13:19:11","modified_gmt":"2020-07-29T11:19:11","slug":"10-ways-to-reduce-operating-expenses-and-sustain-your-practice","status":"publish","type":"post","link":"https:\/\/medicalmanage.gr\/en\/10-ways-to-reduce-operating-expenses-and-sustain-your-practice\/","title":{"rendered":"10 Ways to Reduce Operating Expenses and Sustain your Practice"},"content":{"rendered":"<p><strong>It\u2019s likely you\u2019re spending less time at your practice because patients are leery about coming in for an office visit as a result of the COVID-19 pandemic.<\/strong><\/p>\n<p>The impact it\u2019s having on practice revenue is daunting, especially for independent physicians.<\/p>\n<\/p><div id=\"medic-1412598644\" class=\"medic-mesa-sto-article medic-entity-placement\" style=\"margin-left: auto;margin-right: auto;text-align: center;\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3269445924940809\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- medical en mesa sto arthro -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-3269445924940809\"\r\n     data-ad-slot=\"8662865328\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p><strong>Obviously, revenue generation is necessary to sustain your practice. But what about the other side of the cash flow coin &#8211; reducing operating expenses?<\/strong><\/p>\n<p>When was the last time you took a hard look at your expenditures to help increase profitability?<\/p>\n<p><strong>Now is the perfect time to evaluate your expenses, cut out any fat and seek better terms with your vendors or find new ones.<\/strong><\/p>\n<p>Here are some common areas where you may be able to reduce costs.<\/p>\n<p><strong>Computer support<\/strong><\/p>\n<p>If you\u2019ve been using the same tech support person forever, it\u2019s probably time to shop around.<\/p>\n<p>The number of tech support people has grown exponentially over the past decade.<\/p>\n<p><strong>Medical supplies<\/strong><\/p>\n<p>It\u2019s difficult for solo or small group practices to negotiate lower pricing with large medical suppliers.<\/p>\n<p>Discounts are based primarily on volume. Local or regional suppliers may be more willing to win, or keep, your business at better prices than you are paying now.<\/p>\n<p><strong>Equipment rental<\/strong><\/p>\n<p>Are you still paying for outdated or unused equipment?<\/p>\n<p>Are your lease terms reflective of the current economy and interest rates?<\/p>\n<p>Eliminate unnecessary rentals where you can, and negotiate new terms for your leases.<\/p>\n<p><img decoding=\"async\" class=\" size-full wp-image-6690\" src=\"https:\/\/medicalmanage.gr\/wp-content\/uploads\/2020\/07\/images_MW-GK126_doctor_ZG_20180531120145.jpg\" alt=\"Eliminate unnecessary rentals where you can, and negotiate new terms for your leases.\" width=\"100%\" height=\"NaN\" title=\"Eliminate unnecessary rentals where you can, and negotiate new terms for your leases.\" srcset=\"https:\/\/medicalmanage.gr\/wp-content\/uploads\/2020\/07\/images_MW-GK126_doctor_ZG_20180531120145.jpg 1320w, https:\/\/medicalmanage.gr\/wp-content\/uploads\/2020\/07\/images_MW-GK126_doctor_ZG_20180531120145-300x169.jpg 300w, https:\/\/medicalmanage.gr\/wp-content\/uploads\/2020\/07\/images_MW-GK126_doctor_ZG_20180531120145-1024x576.jpg 1024w, https:\/\/medicalmanage.gr\/wp-content\/uploads\/2020\/07\/images_MW-GK126_doctor_ZG_20180531120145-768x432.jpg 768w, https:\/\/medicalmanage.gr\/wp-content\/uploads\/2020\/07\/images_MW-GK126_doctor_ZG_20180531120145-1170x658.jpg 1170w, https:\/\/medicalmanage.gr\/wp-content\/uploads\/2020\/07\/images_MW-GK126_doctor_ZG_20180531120145-585x329.jpg 585w\" sizes=\"(max-width: 1320px) 100vw, 1320px\" \/><\/p>\n<p><strong>Office supplies<\/strong><\/p>\n<p>Take inventory of what you have, and determine what your short-term needs are.<\/p>\n<p>Use the internet to shop around for the best price, and order in smaller quantities.<\/p>\n<p><strong>Miscellaneous<\/strong><\/p>\n<p>Do you even know what\u2019s lumped into this category? If not, it\u2019s time to find out.<\/p>\n<p><strong>Telephone<\/strong><\/p>\n<p>There are plenty of options. Compare the national and regional phone carriers as well as<\/p>\n<p><strong>Website<\/strong><\/p>\n<p>Shop website hosting companies. Don\u2019t pay a web developer for website hosting or to make simple copy changes on your site.<\/p>\n<p>Most websites have a built-in content editor that lets you make your own changes without having to pay someone to do them for you.<\/p>\n<p><strong>Health insurance<\/strong><\/p>\n<p>Talk to a health insurance broker to find the policy that best meets your coverage and financial needs.<\/p>\n<p><strong>Terms<\/strong><\/p>\n<p>Assess all vendor contracts, including leases, rentals, payment terms, credit card rates and merchant account rates, and negotiate more favorable terms.<\/p>\n<p><strong>Staff<\/strong><\/p>\n<p>No one wants to lay off staff, especially when the economy is reeling and the unemployment rate is escalating.<\/p>\n<p><strong>Talk to your staff and find out what their needs are. Do you have anyone who can change from full time to part time? Is anyone willing to be furloughed until things improve?<\/strong><\/p>\n<p>Trimming operating expenses can save your practice thousands of dollars a year.<\/p>\n<\/p>\n<p><strong>It\u2019s something we recommend to every practice when we transition them to concierge medicine.<\/strong><\/p>\n<p>With reduced expenses, and the annual membership fee, the practices we work with have seen little economic impact from the pandemic.<\/p>\n<p>Remember, the downturn in the economy is affecting most companies, and no one is going to want to lose your business.<\/p>\n<p><strong><a href=\"http:\/\/www.medicalmanage.gr\/en\/\" title=\"MEDICAL management TUTORIAL\">www.MedicalManage.gr\/en\/<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s likely you\u2019re spending less time at your practice because patients are leery about coming in for an office visit as a&hellip;<\/p>\n","protected":false},"author":2,"featured_media":6689,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[103],"tags":[],"ppma_author":[274],"class_list":["post-6691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-management"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"It\u2019s likely you\u2019re spending less time at your practice because patients are leery about coming in for an office visit as a result of the COVID-19 pandemic. 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But what about the other side","twitter:image":"https:\/\/medicalmanage.gr\/wp-content\/uploads\/2020\/07\/images_reading-energy-bill.jpg"},"aioseo_meta_data":{"post_id":"6691","title":null,"description":null,"keywords":null,"keyphrases":null,"primary_term":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_url":null,"og_image_width":null,"og_image_height":null,"og_image_custom_url":null,"og_image_custom_fields":null,"og_video":null,"og_custom_url":null,"og_article_section":null,"og_article_tags":null,"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_url":null,"twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema":{"blockGraphs":[],"customGraphs":[],"default":{"data":{"Article":[],"Course":[],"Dataset":[],"FAQPage":[],"Movie":[],"Person":[],"Product":[],"ProductReview":[],"Car":[],"Recipe":[],"Service":[],"SoftwareApplication":[],"WebPage":[]},"graphName":"","isEnabled":true},"graphs":[]},"schema_type":"default","schema_type_options":null,"pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":null,"robots_max_videopreview":null,"robots_max_imagepreview":"large","priority":null,"frequency":null,"local_seo":null,"breadcrumb_settings":null,"limit_modified_date":false,"ai":null,"created":"2022-12-16 13:55:57","updated":"2025-08-29 02:50:33","seo_analyzer_scan_date":null},"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/medicalmanage.gr\/en\/\" title=\"Home\">Home<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/medicalmanage.gr\/en\/category\/management\/\" title=\"Management\">Management<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t10 Ways to Reduce Operating Expenses and Sustain your Practice\n\t\t<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/medicalmanage.gr\/en\/"},{"label":"Management","link":"https:\/\/medicalmanage.gr\/en\/category\/management\/"},{"label":"10 Ways to Reduce Operating Expenses and Sustain your Practice","link":"https:\/\/medicalmanage.gr\/en\/10-ways-to-reduce-operating-expenses-and-sustain-your-practice\/"}],"authors":[{"term_id":274,"user_id":2,"is_guest":0,"slug":"charamis_medical","display_name":"Charamis","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/13548bee49946b2d932987c7cde930a0b1367bb1b57c039d17eda32396547b84?s=96&d=mm&r=g","author_category":"","first_name":"Charamis","last_name":"","user_url":"","job_title":"","description":""}],"_links":{"self":[{"href":"https:\/\/medicalmanage.gr\/en\/wp-json\/wp\/v2\/posts\/6691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/medicalmanage.gr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/medicalmanage.gr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/medicalmanage.gr\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/medicalmanage.gr\/en\/wp-json\/wp\/v2\/comments?post=6691"}],"version-history":[{"count":0,"href":"https:\/\/medicalmanage.gr\/en\/wp-json\/wp\/v2\/posts\/6691\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/medicalmanage.gr\/en\/wp-json\/wp\/v2\/media\/6689"}],"wp:attachment":[{"href":"https:\/\/medicalmanage.gr\/en\/wp-json\/wp\/v2\/media?parent=6691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/medicalmanage.gr\/en\/wp-json\/wp\/v2\/categories?post=6691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/medicalmanage.gr\/en\/wp-json\/wp\/v2\/tags?post=6691"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/medicalmanage.gr\/en\/wp-json\/wp\/v2\/ppma_author?post=6691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}