NP Business and Trade Tip: Ideas to Diversify Your Practice Income

Many practices are being squeezed in the middle these days. Reimbursement is being reduced (or rules are being made to reduce it) and overhead is rising. It is simple economics when it comes to having a profitable practice…more money has to come in than go out.There are many ways a practice can increase their income — seeing more patients and reducing overhead are just two of the ways you can achieve this. Another is income diversification — increasing the products and services you offer to your patients and clients.When exploring your options you will want to me familiar with the Stark Laws (basically, you cannot refer only to your services), and you need to make sure the product/service is congruent with your practice model. For example offering Botox makes no sense if your practice is pediatrics or mental health. With that said, here are just a few ideas to help you brainstorm what you can add on to your practice to generate more in revenue.If you are not getting enough visits, consider changing your services to offer walk-in/ a-la-cart type services in an after-hours format. Your own patients will then come to your office rather than the urgent care down the road and you’ll attract more clients who may become your primary patients.Pharmaceutical Dispensing. This will depend on your own state laws, so be sure to check your practice act first. You can order and dispense medications and supplies at a profit to your clinic. consider other oral and injectable medications. You’ll need adequate storage and be familiar with dispensing guidelines.
Business Services. Offer services to local businesses. Perhaps they need pre-employment physicals, drug screens, wellness program or available for quick appointments for on the job injuries. You’ll be able to set up contracts with many of these companies and become their go-to office for services.
Leasing/Subleasing. If you own a building or lease a large office, consider leasing/subleasing out space to compatible services. Think mental health, nutrition or massage therapy.
Specialty Procedures. Consider various procedures such as filling lap bands, cosmetic procedures and tattoo removals. All of have the benefit of being generating cash revenue, eliminating additional cost of billing insurance.
Laboratory Services. If you are sending all of your patients to an outside laboratory for needed lab work, consider bringing it in house. You can negotiate a contract with your lab service, draw the labs in house and bill the patient for the services. You’ll often be able to increase your own revenue while offering patients a significant savings.
Weight loss Programs. There are a variety of weight loss programs you can take advantage of, that offer tremendous benefit to your patients while increasing your bottom line.These are just a few of the ways you can think outside the box and offer valuable services to your patients while you increase your revenues. When evaluating any of these services, be sure to weigh your patients needs and of course, add value to their lives and experiences.Your Actions Steps: Assessment: Sit down and look at your practice income. Where does your income come from? Which payers are paying what percentage of your gross income? Additionally, if you have not already looked at your overhead do so now. How efficient is your office running? Where is the waste (which is in almost every office)?
Brainstorm with your partners and staff different ways you can add services and/or products that make sense. Put all ideas on the table even if they feel like they don’t fit.
List the pros and cons of each idea to get a sense of what really might work. You’ll want everyone involved in this process. If you don’t feel like you have enough ideas, start asking your clients what they would like to see in your practice. Consider adding a suggestion box — you’ll be amazed at the feedback you get — especially when it’s anonymous.
Read your state practice act to be clear on any rules/regulations that may interfere with your plan.
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Shoe Repairs And Several Other Things When I Was 7

Shoe Repairs And Several Other Things When I Was 7
My Dad repaired most of our shoes believe it or not, I can hardly believe it myself now. With 7 pairs of shoes always needing repairs I think he was quite clever to learn how to “Keep us in shoe Leather” to coin a phrase!

He bought several different sizes of cast iron cobbler’s “lasts”. Last, the old English “Laest” meaning footprint. Lasts were holding devices shaped like a human foot. I have no idea where he would have bought the shoe leather. Only that it was a beautiful creamy, shiny colour and the smell was lovely.

But I do remember our shoes turned upside down on and fitted into these lasts, my Dad cutting the leather around the shape of the shoe, and then hammering nails, into the leather shape. Sometimes we’d feel one or 2 of those nails poking through the insides of our shoes, but our dad always fixed it.

Hiking and Swimming Galas
Dad was a very outdoorsy type, unlike my mother, who was probably too busy indoors. She also enjoyed the peace and quiet when he took us off for the day!

Anyway, he often took us hiking in the mountains where we’d have a picnic of sandwiches and flasks of tea. And more often than not we went by steam train.

We loved poking our heads out of the window until our eyes hurt like mad from a blast of soot blowing back from the engine. But sore, bloodshot eyes never dampened our enthusiasm.

Dad was an avid swimmer and water polo player, and he used to take us to swimming galas, as they were called back then. He often took part in these galas. And again we always travelled by steam train.

Rowing Over To Ireland’s Eye
That’s what we did back then, we had to go by rowboat, the only way to get to Ireland’s eye, which is 15 minutes from mainland Howth. From there we could see Malahide, Lambay Island and Howth Head of course. These days you can take a Round Trip Cruise on a small cruise ship!

But we thoroughly enjoyed rowing and once there we couldn’t wait to climb the rocks, and have a swim. We picnicked and watched the friendly seals doing their thing and showing off.

Not to mention all kinds of birdlife including the Puffin.The Martello Tower was also interesting but a bit dangerous to attempt entering. I’m getting lost in the past as I write, and have to drag myself back to the present.

Fun Outings with The camera Club
Dad was also a very keen amateur photographer, and was a member of a camera Club. There were many Sunday photography outings and along with us came other kids of the members of the club.

And we always had great fun while the adults busied themselves taking photos of everything and anything, it seemed to us. Dad was so serious about his photography that he set up a dark room where he developed and printed his photographs.

All black and white at the time. He and his camera club entered many of their favourites in exhibitions throughout Europe. I’m quite proud to say that many cups and medals were won by Dad. They have been shared amongst all his grandchildren which I find quite special.

He liked taking portraits of us kids too, mostly when we were in a state of untidiness, usually during play. Dad always preferred the natural look of messy hair and clothes in the photos of his children.

Plan a Tour to India During Winter

The diversified land of India offers a wide array of pleasing tourist destinations for all seasons and for tourists with varying tastes. Most of the places offer their best attractions in winter season. Therefore, if you are planning to visit India in winter, you can have ample choices. Be it your honeymoon or a family holiday or just a routine vacation with friends, India will surely leave you mesmerized. From all the history buffs to nature lovers, wildlife lovers, adventure enthusiasts, honeymoon couples and even the religious minded people, everyone can satisfy his/her desires. A snowy Christmas in India is as exciting as a Goa carnival, a camel safari in Rajasthan, any adventure sport in the Himalayan ranges or even a sunbath alongside the exotic Goan or Kerala beaches.A few popular winter destinations in India are:

Kashmir – the home of numerous hill stations (like Srinagar, Gulmarg, Sonamarg, Pahlgam etc.) with some of the most splendid lakes and snow clad peaks; perfect for sightseeing, adventure and relaxation.
Auli (9,500-10,500 ft above sea level in Uttarakhand) – pine scented mountain slopes; ideal for skiing and sightseeing trips.
Shimla (the queen of hills, in Himachal Pradesh) – perfect for adventurous and religious tours.
Mcleodganj (close to Dharamshala, in Himachal Pradesh) – the abode of His Holiness the 14th Dalai Lama; popular for Buddhist meditation centres, health clubs and monasteries.
Halflong (Assam) – wonderful sightseeing place with orange orchards, pineapple gardens and the wildlife species, blue hills, green rivers and cascading waterfalls.
Mount Abu (the only hill station in Rajasthan) – offers various adventure sports and Dilwara Jain temples.
Lake Chilka (Odissa) – paradise for bird lovers.
Corbett National Park (Uttarakhand) – home to around 50 species of mammals, 580 species of birds and 25 species of reptiles.
Backwaters of Kerala – 900 km long intricate network of waterways with tropical climate; houseboats are a unique attraction.
Goa – the queen of beaches; popular for carnival, trance parties, and countless festivities.
The northern belt of India, comprising of states like Jammu & Kashmir, Himachal Pradesh, Uttaranchal etc., is the most frequented part in winters. The true beauty of this region is highlighted at its best in the months of October to March.