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Enhance your revenue with AAOS primer

In the past, development of a financially successful practice hinged primarily on a physician’s clinical expertise, which served to attract patients and generate revenue. But today, the economic climate is very different.

Orthopaedic surgeons must develop new ways to generate revenue while meeting the healthcare needs of their patients. Their long-term goal should be to generate revenue from multiple sources. Diversification can help ensure practice viability even if one source of revenue does not meet projected financial expectations.

To help AAOS members meet this challenge, the Practice Management Committee has developed a new primer, Enhancing Your Practice’s Revenue: Pearls and Pitfalls.

This primer will assist orthopaedic surgeons in all practice settings to increase revenue flows and therefore remain profitable. Although not every technique is applicable to every surgeon, all orthopedists should find several pearls to take home and help grow their practice revenues—even in this challenging environment. The following areas are covered:

  • Ambulatory surgery centers
  • Emergency call
  • Imaging services
  • Medicolegal practice
  • Nonphysician extenders
  • Nonsurgical physicians
  • Urgent care centers
  • Physician-hospital joint ventures
  • Physical/occupational therapy
  • Real estate
  • Service line management
  • Social media marketing

“If we fail to improve our revenue outlook, then many orthopaedic practices will fail,” say editors Thomas J. Grogan, MD, and Adam Soyer, DO. “If that happens—at the exact same time as the baby-boomer generation reaches the age of needing a greater amount of musculoskeletal care—then our nation will experience a true healthcare crisis.”

Enhancing Your Practice’s Revenue: Pearls and Pitfalls is available in hard-copy form at the Practice Management booth at the 2011 Annual Meeting and online on the AAOS Practice Management Center at aaos.org

For more information regarding the 2011 primer and the Symposium, contact Steven Fisher at (847) 384-4331 or sfisher@aaos.org

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