December’s Tips to Reduce Medical Clinic Expenses

We all tend to just accept annual increases from service providers in our private lives and businesses. Few of us have time to call and get new quotes. However, it’s crucial that we take the time to do so. It usually starts like this… 5 years ago, you received three quotes from internet service providers and made a decision. That decision may have been based on the lowest price, the level of service provided, or a recommendation from a colleague. Regardless of how you made the choice, it was based on competitive packages developed and offered years ago.

With internet service providers, you can begin by calling your current provider after researching what their competitors are offering to new clients. In some cases, you can save hundreds of dollars a year when you have a chat with their “loyalty department”. Raise the point that you’ve been a loyal customer and want to stay with them, but their competitor is offering a more attractive deal. Most often, they will offer you a comparable deal.

So, how do you find the time to do this?

Here’s a manageable way to approach the project. Let’s use the example of your office cleaning company. Assign an employee to call 3 cleaning companies with a summary of costs, business longevity, references, etc. Ensure you communicate to the employee that it’s crucial to be precise when describing the services needed from each company. This way, you can compare “apples to apples”. Once you have three quotes, sit down with your staff to discuss the pros and cons of each quote/company. Next step it to make a decision to stay with your existing vendor or switch. Repeat the process the following month with your shredding service provider.

Another option is to utilize your provincial medical association membership for offers on insurance, hotels, car rentals, and benefit packages. Check their website or call to review their offerings. Additionally, large big box companies like Costco offer many business service deals you can benefit from.

For larger clinics, consider hiring part-time casual employees if your clinic is larger than a solo practice. If providers are out of the office 2 days a week, workload is reduced, you can schedule your staff accordingly.

Looking for some benchmarks or want to discuss some other strategies? To save your family practice or speciality clinic some money, call us to chat with one of our medical practice advisors.

Medical clinics should always keep an eye on their financials to ensure they are getting the best deal possible.