Use this simple formula for estimating the additional annual revenue diagnostic equipment such as chemistry analyzers, ECG systems, and spirometers, may generate for your practice.
Adding the latest diagnostic equipment to your medical practice can help you provide better patient care, increase patient satisfaction and create new revenue streams. When adding equipment, however, it is important to keep in mind your patient population and payer mix to avoid an expense that does not benefit your patients or practice.
Take time to determine your patient needs and staff and space requirements to help you determine what type of diagnostic equipment might benefit your practice or laboratory:
- Your patient volume and mix, including patient groups who would most likely be candidates for the specified diagnostic testing
- Reimbursement and outlook for specific types of diagnostics
- Associated supply, staff and repair costs
- Number of years your practice would own the equipment