Developing alternate revenue sources

During the 1990s, with the proliferation of managed care and aggressive negotiating postures by insurance companies, the reimbursement paid to physicians decreased drastically. In order to compensate, physicians have had to extend their work week, reduce overhead or seek alternative revenue sources. Developing alternative sources of revenue without having to work additional hours is the most palatable option. In our practice, almost 15 percent of revenue is derived from alternate or non-physician revenues collected at 100 percent of posted charges. This article highlights some of these solutions and discusses their applicability and appropriateness within a practice.