Before exploring the clinic’s overall collections, it is very important that a clinic ensures that it meets the minimum requirements to succeed. As mentioned in other related articles and blogs, past historical statistical data clearly shows that prior to considering medical integration, a clinic should meet the following criteria to reinforce the chances of success: (These average numbers may differ depending on each particular situation).
- 100-125 Office Visits per week
- 12-18 New patients per month
- 20K-25K collections per month
- Clinic space of 800-1000 Sq. ft.
Next, assuming that you meet the minimum recommended requirements, and that the initial set up protocols have been properly implemented, i.e. legal infrastructure, contracted medical personnel, new billing and coding, etc.… and that the designated medical patients have been appropriately scheduled, the clinic should experience an increase of about 15% in collections for the first quarter. This increase should keep growing monthly by 3%-5% over the next few months.
It is critical to realize that a prudently measured progressive growth over a reasonable time period will allow control of the clinic’s expenses. Indeed, many clinics have failed in the past due to the fact that their unwise forecasting caused their expenses to spiral out of control within a short time period.
Therefore, I must again reiterate that to enjoy your return on investment (ROI) all above considerations must be seriously implemented.
