How Physicians Can Earn More in Uncertain Times While Improving Patient Outcomes and Satisfaction
Aug 31, 2022Are you a physician who is working more hours and getting paid less with each passing year? Are you frustrated because you have to spend more time managing regulatory computerized documentation and less time actually engaging and caring for your patients? Do you sometimes just feel like a cog in the healthcare wheel? Well, you are not alone.
The American Medical Association reported that according to the 2017 Medscape Lifestyle Report, after surveying physicians from 27 specialties, all but one rated burnout at a level of 4 or more on a scale of 1 to 7. For this survey, 1 indicated it doesn’t interfere and 7 indicated they have had thoughts of leaving medicine.
In working with primary care physicians, bariatric physicians and surgeons, I have discovered a few ways to improve physician happiness and income along with improved patient outcomes and satisfaction without feelings of pain and anxiety. Here are a couple of solutions that work:
- Determine the patients that you enjoy working with the most. Focus on ways to attract more of them whether through new programs specific to their needs or implementing a patient referral program so they tell others like them about you and the outstanding services you offer.
- Two thirds of the American population is overweight. Consider adding weight loss services in your practice which can be offered by yourself or an interested nurse practitioner or PA. If you are an independent practitioner, this is a wonderful way to add an additional revenue stream and can be implemented easily. We have seen growth rates of up to $8,000or more monthly revenue. Our turn-key programs make is a cinch the program is easy to begin, marketing materials are created for you and training is provided. If you are employed, this is a niche you can carve out as a separate offering that can further supplement your income. The Obesity Medicine Association also has wonderful support for new weight loss physicians and those interested in becoming board certified.
- If you currently offer weight losses services or decide to add such services, consider adding retail. I know, you may be thinking – I have no idea how to run a retail store and neither does my staff. And this sounds like a hassle. That’s not a problem. Quality nutritional products are easy to promote (and not necessarily by you) and improve patient outcomes (along with referrals). We have tested all products and can offer advice on how to set up your store along with successful marketing campaigns for promotion. This is also something you can set up as a profit share in the event you are employed by a health system or if you are independent, it is easily an extension of your services. Retail stores can bring you more than $40,000 gross revenue each month.
It’s time to enjoy what you do while earning more and helping those you serve to enjoy healthier lives. If you ever want to have a quick chat about your business goals and how to get there faster and easier, reach out to me at [email protected]
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