Cost per patient and payer mix are among the top numbers you need to track when we talk about knowing your numbers. It can make the difference between a practice that is financially solvent and one that is struggling.
When I asked a group of NPs, they did not know the answer.
It does not matter what kind of practice you have, you must understand your expenses – including what it cost you to see a patient, vs what you are getting paid to see that patient. Obviously, if you are getting paid less than what it cost you, there is a problem.
This episode of the podcast, and the corresponding video, will show you how you can quickly figure out if your current payer mix makes sense once you know your cost per patient visit.
Topic Resources
- Other numbers to track – Billing Metrics
More Resources
- Catch up on all the NP Business Matters podcasts here.
- Check out the Nurse Practitioners in Business Facebook Group
- Become a Member of the NPBO™
- Ready to start your own practice?
Connect with the Podcast
You can find the NP Business Matters Podcast on popular podcasting platforms:
- Apple Podcast
- Stitcher
- Spotify
- Google Podcast
- iHeartRadio
- Amazon Music/Audible
- Pandora
- And others. You’ll also find us in your favorite podcast player.
And as always, please subscribe, leave a rating, and share with your colleagues.
If you have requests for topics and/or guests, you can leave us a comment below, or anonymously fill out this form.
Your Turn
Have you taken the time the figure out your payer mix? Does it make sense for your practice when you look at the cost-per-patient visit? I invite you to share your thoughts, ideas, and/or questions in the comments below.