Optimization Strategies Designed to Help Your Patients & Your Bottom Line
Successful audiology departments don’t happen by chance. Knowledge of how your resources are allocated, what is feeding your strongest revenue streams and where new opportunities exist can help your practice create sustainable, long term growth. At Fuel, your success is ours, and we don’t have clients—we have partners. Let’s work together to achieve the outcome you’ve been working towards.
“Audiology departments should never just exist in homeostasis—operations and procedures should always be improved and elevated for the good of the patient while keeping in mind the revenue of the practice.”Rose DuLude, Ph.D., CCC-A, FAAADirector of Audiology
Tracking KPIs—What Gets Measured, Gets Managed
Most audiologists aren’t aware of how crucial tracking key performance indicators (KPIs) are for the success of their business. Metrics, including gross revenue, units sold and average sale price, can provide you with a baseline of your practice’s financial health and offer insight into where you can make growth-oriented changes. We can help you track additional dynamic metrics and analyze data at a deeper level to identify opportunity areas you may not be aware of.
Here are a few of the many KPIs we track with our cutting-edge software, Audiology EDGE:
- Revenue Per Hour (RPH)
- Service vs. Time Model
- Clinical Application
Pricing Strategies & Treatment Plans Crafted to Build Loyalty
Though subscription-based options are nothing new, our novel pricing strategies are designed by audiologists for audiologists. Our ‘Better Hearing Plan’ offers one of the industry’s best value-based care tools for patients. With the ‘Better Hearing Plan’, Fuel can help you build practice loyalty that measurably increases patient retention.
The ‘Better Hearing Plan’ At-a-Glance:
- 36 low monthly payments
- No down payments with no hidden fees
- Loss and damage coverage
- A simple leasing application process
- Two to three-year repair warranty dependent on the technology
- 45-day trial period
Access Hearing Discount Program:
- We know you are looking for new ways to compete and offer your patients affordable options. One concern that we see in the market is people discounting their gold standard treatment plan to try and compete with today’s market pressures, thus reducing the margin on each aid you fit. With this in mind, Fuel Medical’s Access Hearing Program was designed as an alternative treatment plan to give you the ability to offer your patients more options for affordable treatment of their hearing loss, while continuing to receive care from you. We’re excited to help you keep your private pay patients right where they belong—in YOUR practice.
The switch from ‘ownership that you purchase’ to ‘access you subscribe to’ overturns many conventions, and private practitioners can pivot more easily than large clinics to this type of approach.
Are You Allocating the Right Resources For Scheduling and Employment?
Reallocating resources so that you can spend more time with your patients is a pillar of outcome improvement. This couldn’t be more important when it comes to scheduling and employment fixes.
We provide you with the tools you need to schedule efficient appointments and retain quality staff, freeing up time to focus on patient care. This impacts the quality of your patient outcomes and has a positive ripple effect across every touchpoint in the patient journey.
Turning Outside Industry Threats Into Opportunities
Over-the-counter options, third-party contracts and ‘hearables’ from big-name audio manufacturers provide patients with more budget-conscious options than ever before. These devices can feel like competition but they’re creating an incredible opportunity Fuel can help you take advantage of by:
- Coalescing your brand and your mission around value-based care
- Educating your patients through creative marketing campaigns
- Recalibrating your pricing and treatment strategies
Clinical Treatment with HaRT (Habituation and Retraining Therapy)
Tinnitus management skills and sound therapy are utilized for short-term relief and retraining and correction of hypermonitoring is utilized for long-term habituation.
The three core components of HaRT are:
- Expert tinnitus education and information
Counseling and education sessions explain the facts about tinnitus and how care is provided to give relief and guide the patient through the process of achieving short-term and long-term benefit.
- Proper use of sound therapy
Guidance on the correct usage of the device along with a detailed explanation of the basic milestones of progress with sound therapy give the patient confidence in the treatment.
- Regular interaction with a tinnitus expert audiologist
The HaRT program offers regular interactions between patient and clinician as needed during treatment to facilitate the best possible outcome for each patient.
The HaRT approach is unique. It draws from other well-established, evidence-based approaches while also incorporating the most convenient methods and technologies for the patient and the learnings of our own clinical experts, gathered from years of patient interactions.
Is Your Audiology Practice Set Up for Success?
At Fuel Medical Group, we understand the operational nuances of the audiology industry and use that time-tested knowledge to help your practice where you and your patients need it most. Equipped with proven software, loyalty-building treatment adaptations and some of the best minds in the health care industry, we specialize in solutions that work.
Contact Fuel today to learn how we can optimize your audiology operations for your business growth strategy.