The EntreMD Podcast

3 Ways Private Practices Can Increase Their Profit Margin

March 02, 2023 Episode 304
The EntreMD Podcast
3 Ways Private Practices Can Increase Their Profit Margin
Show Notes

Whether you have plans to sell your business or not, you want to build a sellable business.

Why?

Because a business that is easy to sell is a business that is desirable to keep. You win either way.

But how do you up the sellability of your private practice business?

Increase the profit margin.

The first way to do this is to optimize your schedule—take a real look at the calendar and make sure you're filling any gaps with appointments. After all, you've already paid overhead, payroll, fixed expenses, etc. so filling those gaps goes straight to the profit margin.

It's critical you don't stop playing offense; don't stop your marketing efforts and don't stop reviewing referral bases that can get your gaps filled and your schedule optimized.

In today's EntreMD Podcast episode, "3 Ways Private Practices Can Increase Their Profit Margin," I detail that and the two other ways, so tune in for those!


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