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Related Experiment Videos

Developing alternate revenue sources.

M Greenberg1

  • 1Finger & Associates, Plastic Surgery Center, Savannah, GA 31405-6012, USA.

Medical Group Management Journal
|April 5, 2000
PubMed
Summary
This summary is machine-generated.

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Physicians facing decreased reimbursement can explore alternative revenue streams to maintain practice income without working longer hours. Non-physician revenue sources offer a viable solution for financial stability in healthcare practices.

Area of Science:

  • Healthcare Management
  • Medical Economics

Background:

  • The 1990s saw significant decreases in physician reimbursement due to managed care and insurance negotiations.
  • Physicians sought strategies like extended work hours, overhead reduction, or new revenue streams to compensate.

Purpose of the Study:

  • To highlight alternative revenue sources for medical practices.
  • To discuss the applicability and appropriateness of these non-physician revenue streams.

Main Methods:

  • Analysis of revenue generation within a medical practice.
  • Identification and evaluation of non-physician revenue streams.

Main Results:

  • Alternative, non-physician revenue sources accounted for nearly 15% of the practice's total revenue.

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  • These revenues were collected at 100% of posted charges.

    • Conclusions:

    • Developing alternative revenue streams is a palatable strategy for physicians to offset declining reimbursement.
    • Non-physician revenue offers a practical method to enhance practice income without increasing physician work hours.