What hurts? It's a simple question that doctors have been asking as long as medicine has been practiced. But has anyone ever asked the family practice doctor "What hurts?"

With rising insurance costs and shrinking reimbursements from insurance companies over the past years, along with issues of practice succession and increased demand from the public for more accessibility, patients' – and the doctors' – pain is being felt all over.

Here a few items every family practice can consider to increase revenues, or more effectively use its dollars.

Consider doing more services such as ultrasound, Holter Monitors, or blood work: While there might be some initial capital required up front, these services could increase revenue without taking up a lot of time.

Review your retirement plan: You should review your plan to ensure that the owners are receiving the maximum amount allowed under the law. The IRS allows plans to be designed to put more money into a plan for employees that are either over a certain wage limit (such as Social Security), in a certain work class or in a certain age group. Reviewing the cost / benefits of plan design could surprise you.

Bring in a new doctor: This can help solve the issue of practice succession for an older physician. Also, by bringing on a new doctor, the practice can expand its office hours to evenings and weekends. (Not to mention there will now be one more doctor available to take calls).

Review your internal office procedures: Are patients walking out the door without being asked for their co-payments? It might not seem like much when you only consider one patient, but add them all up and you have a lot walking out your door. Also, consider who is doing what in your office so you are not doubling up on work. If you have each person write down what they do every day, you might actually find that people are duplicating duties, or find better ways to do things.

- By Alan C. Hill, CPA (Mentor office)

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