How the business side of Orthodontics is changing
Orthodontics has almost always been a practice involving very few people. But even such small practices have significantly large demands. With such small operations, the patient is always sure that they are getting a personalised service. The downside is that the number of patients that can be seen on any given day is quite limited. If the orthodontist is in charge of most of the operations in their practice, the number of patients they can serve is further reduced. Bringing in new people may ease the workload but this comes with extra costs.
The Change
The times are however changing and companies such as OrthoSynetics have come up with new ways with which the orthodontists can handle the non-medical functions of their practice. For starters, they offer consultancy services. This means that they will come to your practice and watch how you handle your various operations. Afterwards, they will give you recommendations on how you can improve the way you do things. Additionally, they will also stay and help you to implement these changes. This is all quite standard.
OrthoSynetics also allows you to outsource some of your functions to them. This means that for a fee, you will rid yourself of the burden of handling some of the processes in your practice. If most orthodontists could have things their way, they’d be getting to work, treating the patients and never have to worry about the paperwork, where the supplies will come from and whether or not the patient is covered by insurance. This is exactly how companies such as OrthoSynetics are allowing orthodontists to work.
With OrthoSynetics, some of the functions that you can outsource include:
- Accounting and Payrolls
- Marketing
- Purchase of supplies
- Human resource management
- Patient Finances
- Tech support
The Benefits
Orthodontists that are choosing to work with companies like OrthoSynetics are enjoying very immense benefits. Some of these benefits include:
- Better deals on supplies and insurance: Because these companies represent more people, they are able to get better deals on supplies that are needed on a daily basis. Additionally, by taking advantage of group insurance schemes, the premiums charged to the individual practices are much lower.
- More available time: Whether it means serving more patients or just having more time to do other things, orthodontists that work with outsourcing companies get to have much more time on their hands. Many have used this extra time to increase their profits.
- Accurate billing and accounting: Keeping track of payments while ten patients are waiting in line is not easy. It’s not uncommon for errors to be made or to find out much later that a certain patient’s insurance didn’t cover the cost of the whole treatment. Where these functions are outsourced, not only does the responsibility for such issues not lie with the orthodontist, the jobs are likely to be done much more accurately. Processing of payrolls, tax returns and other such matters to do with accounting will never trouble the orthodontist and the people doing these jobs will be much more suited to handle them.
With this improved way of doing things, the main beneficiaries will probably be the patients. They will finally be working with orthodontists who have nothing on their mind except treatment
Join this Discussion