How much is your work costing you?
It’s a weird question, isn’t it? How much is my work COSTING me?
Shouldn’t work be EARNING money? Well, only if you’re charging for it – and actually collecting.
Many doctors shy away from thinking about charging for uninsured fees because it can feel “too business-like” or “not why you went into medicine.”
However, charging fees for your services is not necessarily about turning a profit. Rather, it often about simply recovering your costs for the services. After all, staff time, paper, ink, postage all cost money – not to mention the value of your time as a physician.
Take, for example, the expense involved in renewing a prescription. The time, resources, and costs for this common request amount to approximately $22 per occurrence – and much more than that if the bill does not get paid and you need to send reminders!
Consider the growing list of services with similar workflows and costs: forms, sick notes, missed appointments, notes for physiotherapy, etc.
If you are not collecting revenue for these services, that equates to thousands of dollars of uncompensated EXPENSES every single month.