Grow your business with RxWorks by improving revenue and practice profitability whilst reducing costs with innovative processes and functionality.
We have developed invaluable tools to identify and monitor your return on investment, growth and the viability of your activities.
Benefits for your business
- Increased practice revenue and profit
- Reduced operational costs
- Improved client retention
- Streamlined practice workflows
RxWorks helps you manage the two main components of revenue and profitability – your fees and the number of patient visits.
Increasing profitability using standards of care
As long as your fees include a profit margin, to improve revenues you need to increase the frequency of patient visits or the number of services in a visit. If you build standards of care for your services and get clients to accept them, you can increase both.
RxWorks includes tools to build your standard procedures. But you can also save a considerable amount of time and expense by using the thousands of pre-defined templates included in our content databases. Other tools help ensure that your standards are used.
Increasing revenue with right fee structure
RxWorks includes a content database and management process that helps you move towards building fees based on desired profit margins. The database contains several thousands of ready to use procedure templates. You can define the margins you wish for different types of services, and allow for “shoppable” services. You can charge whatever fees you feel are appropriate however, you’ll have a good idea of the profit or loss you’re making on individual procedures. Calculating prices for products you sell, is much easier as you already know their cost. It’s what you paid the vendor.
In most practices the two biggest costs are staff and stock, RxWorks helps practices to streamline processes to increase staff utilisation and reduce stock wastage.
Reduce stock wastage with accurate stock control
The cost of inventory has a significant effect on your profitability. It’s essential that you accurately balance your product levels with the amount each product line is being to reduce wastage. The inventory management tools included in RxWorks help you perform that task.
Minimise missed charges with bundles
Other areas in which RxWorks is of great assistance are focused on cost recovery rather than cost savings. Pre-defined procedures, product content database and process policies are just a few of the functions that address missed charges. They work on the principle of ‘prevention is better than cure’ that you’re all familiar with.
Everyone accepts that retaining clients is critical to the stability and growth of your practice. RxWorks effectively uses automated reminders and other communications to improve customer service and increase client retention.
Improving practice visits with educational communications
Your standards database holds materials to help educate clients on your services. They can provide automatic delivery of informative and timely messages to clients. This frees up staff and improves the consistency of your client communications.
Increase compliance with automated messaging
An important part of keeping clients bonded and increasing compliance is that you provide informative communications on a regular basis. RxWorks includes many types and methods of communication. They range from automatic reminders to personalised aftercare instructions. You can use printed materials, emails and SMS, as well as call-back lists to get your message to clients – and most are sent with very little effort from your staff. It’s very important that manual processes are kept to a minimum.
When reminders are manually updated surveys show it can result in upwards of 20% of patients not having outstanding reminders on their record. This means you’ll never contact the client, making them a potential loss to your practice. One of RxWorks built-in policies prevents that occurring. Another of our content databases ensures that any reminders associated with using a product are present and accurate – and that avoids another possible breakdown in communications.
Increase staff utilisation and practice workflows with Key Performance Indicator analysis
Stating the obvious, personnel costs make up a large part of practices expenses. To manage them, RxWorks measures staff utilisation through its Key Performance Indicator analysis. You can use it to help adjust your processes and better manage staff costs.