10 tips to protect revenue when costs rise
Discover expert strategies for medical practices to manage rising supply and device costs driven by inflation and tariffs.
Practices across the country are grappling with rising costs for supplies and devices, a trend fueled by the twin threats of ongoing inflation and the "reciprocal" tariffs recently announced by the Trump administration. These financial pressures are forcing practice administrators to find creative ways to manage expenses without compromising patient care.
Staying ahead of inflationary trends and tariff-driven price fluctuations is no small task, but practice administrators who prioritize best practices and transparent communication with suppliers can help steer their organizations through uncertain times. Leveraging data analytics, optimizing inventory levels and seeking professional advice will empower practices to adapt swiftly and confidently.
By incorporating these tactics into daily operations, administrators can focus on delivering quality care, confident that their budgetary decisions align with both ethical standards and financial realities. Even in the face of rising expenses, prudent planning and collaboration can keep patient care at the forefront.
