NATUROPATHIC ECONOMICS

NATUROPATHIC ECONOMICS
Business education, information and resources

Thursday, September 9, 2010

Maximizing Profits - Tip 1

Many Naturopaths have asked "How can I make more money in my practice?"  Aside from growing your practice patient base, one way is to reduce overhead.  In coming posts to this site I will share tips and tricks to reduce your overhead resulting in increased profits.

Here is one way to reduce your costs.  If you are like me the cost of toner is always troubling, but a vital part of doing business.  Now you can save up to 70% on the cost of toner and ink replacements for your laser or ink jet printers.  Just think about it.  Many toner cartridges cost as much as $100 or more, but you can get yours for as low as $30 and these are not the cheap "drill and fill" cartridges we see advertised.

We have all seen the ads or received emails offering "toner deals".  Naturopathic Economics researched this aspect of cost savings and found http://www.econtonerandink.com/  .  This online site offers virtually every toner or ink cartridge ever made.  Each cartridge comes with a 100% satisfaction guarantee. The company provides more the 80,000 cartridges each year to large businesses such as health insurance providers, and other major corporations.  You can now take advantage of these savings by simply going to http://www.econtonerandink.com/ selecting your toner cartridge and placing your order.

Let the savings begin and your profit margin increase.

1 comment:

  1. IMO, the number one indicator of how successful and ND will be is the return rate after an initial consultation, that is, the percentage of patients that return for a follow up visit after the initial consultation.

    Very successful NDs have a return rate of @75%-80% and those who cannot sustain a practice tend to have return rates of about 20%-30%. Most NDs fall somewhere in between.

    Factors such as bedside manner and you skill as a physician are obvious major factors, but the three overlooked factors I see are:

    1. Always scheduling follow up visits after an initial consultation. Some NDs think patients will just magically know when they need a follow up. More often, they will just move on to trying something else, especially if what you prescribe is not working as recommended.

    2. Have an office that looks like a medical office, not a chiropractors, an acupuncturists, a homeopaths or a massage therapists.

    3. Wear a lab coat during initial consultations. I know this is not popular in the ND world but the reality is that people will judge your capabilities and skill level by your attire, especially during an initial consultation, when they are first getting to know you. A labcoat conveys physician while nice attire conveys non-physician and patients will treat you, trust you and pay you accordingly.

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