Aurora Audiology & Speech Associates, in the Buffalo region of New York state, suddenly found that the bulk of their patient base had third-party payer or fitting-fee contract benefits, and the third-party payer was aggressively advertising in their market. The practice’s owner, Dr. Leslie Stewart, needed support realigning her practice to focus on private-pay patient flow.
The Path Forward
Audigy showed Dr. Stewart not only that it was possible but that there was a clear path forward. Her Strategic Business Unit performed an in-depth gap analysis and implemented a customized plan.
Cultural Reset
Audigy helped Dr. Stewart realign her team with the practice’s mission. Dr. Stewart’s conviction in the path forward, strong leadership, open communication, willingness to make difficult decisions, and investment in the natural strengths of her team members has kept the team aligned, focused, and engaged.
Operations
Audigy’s operations team built and implemented a block schedule to prioritize appointments for private-pay patients and outreach to tested-not-treated and outdated-technology patients.
Marketing
The marketing strategy focused on driving private-pay patient flow. They retained their print-newsletter tactic but added a website upgrade, pay-per-click advertising, encouragement of online reviews, and implementation of outreach to tested-not-treated and outdated-technology patients.
Professional Development
Drawing on industry best practices, Audigy helped the providers build a better consultation process from the ground up and coached the front-office staff on effective strategies for inbound patient calls.
Remarkable Results
In the seventeen months following the implementation of Audigy’s suggested strategies, Aurora Audiology & Speech Associates saw remarkable gains, compared to the previous four months, including:
- 65% increase in net revenue
- 75% increase in gross profit
- 175% increase in net profit
Navigating Industry Changes… And Winning
Even in a changing hearing care field, as more insurance plans take on third-party payer networks and more baby boomers come into retirement age, your independent practice can grow and thrive.
Audigy’s team of industry experts can help you:
- Understand and align your business model to determine your ability and willingness to integrate third-party contracts into your practice.
- Identify and act on the balance your office needs between private pay and third parties to maximize the impact both can make.
- Navigate third-party contracts to make sure you pick the right ones for your business, know how to properly itemize clinical services for optimal reimbursement, and get every single dollar you’re due for patient services.