Most healthcare practices don't realize how much money they're leaving on the table. Practice owners that don't have an organized approach to managing inventory can lose hundreds or even thousands of dollars each year.
PHOENIX, ARIZ (PRWEB) February 22, 2017
Management of supply inventory in a healthcare practice is directly linked to the profitability of the business. But many practices often relegate this task to the bottom of the "to do" list. A new white paper written by the staff at Preferred Therapy Providers, Inc and available on their website, reveals how healthcare business owners can easily manage medical inventory supply and add more profitability to the bottom line.
The white paper, "More Revenue: How to Manage Medical Office Supply Inventory, Eliminate Waste, and Reduce Costs" covers the steps to more efficient supply management.
"Most healthcare practices don't realize how much money they're leaving on the table," said Steven Allred, PT, President of Preferred Therapy Providers, Inc. "Practice owners that don't have an organized approach to managing inventory can lose hundreds or even thousands of dollars each year. With the current fluctuations in the healthcare industry, there's no room for inefficiencies that can contribute to negative cash flow. This white paper is part of our continuing commitment to find ways to help private practice owners in healthcare thrive."
Healthcare practices are businesses and must perform the services they offer while managing productivity, costs and profitability. Devoting the proper amount of time on revenue generating tasks such as patient intake or treating as many patients as possible can be reduced or wasted when systems and processes in the practice are haphazard. With a little planning and organizing of medical supply inventory, unnecessary costs and wasted precious time can be avoided.
This white paper covers several topics including how to establish a purchasing policy, how to budget for supplies, how to develop an easy ordering system and how to source and negotiate discounts with vendors.
Download a complimentary copy of the white paper by visiting the Resources section of Preferred's website.
About Preferred Therapy Providers, Inc.
Founded in 1992, Preferred Therapy Providers, Inc. began in the southwest and has since grown to be one of the largest, centrally managed contract procurement services in the country. Preferred contracts with a variety of payers on both the national and local level including group health and workers compensation, working with fully and self insured payers. The professional contracting team has over fifty years of combined experience.
Preferred also collaborates with a select handful of partners who understand how to reduce costs and streamline efficiencies for private practices. These programs are value-added benefits of membership in Preferred's network.
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