What is the Return on Investment for Purchasing an Ultrasound Machine for Your Practice?
Purchasing diagnostic equipment can get expensive, but it is a much-needed part of your practice. Though it’s only natural to question whether or not a portable ultrasound machine is a wise financial investment. If you find yourself here, it is time to consider all of the benefits they bring, such as the ability to provide a quick and accurate diagnosis, convenience, and the opportunity to easily move patients through to treatment. And that is just to name a few!
Being able to calculate your return on investment for purchasing your ultrasound machine - as well as finding ways to maximize it - will be further proof that the benefits far outweigh the cost.
Maximizing Your ROI
There are many different ways you can maximize your ROI so you can justify your investment in a portable ultrasound machine.
Perform More Ultrasound Exams
If you have the technology available, then you will use it. Not unnecessarily, but because it can help you to diagnose patients right away - allowing you to focus on treatment more quickly. There is no need to send patients elsewhere for diagnostics and delay treatment.
The convenience of being able to perform ultrasound exams right there in your office means that you are more likely to do it when necessary. The more ultrasounds, the more amplified your return.
An ultrasound machine allows you to perform many different diagnostic tests utilizing the same machine. This means you have a greater reach in patients – which can also boost its use and your return.
Every business knows that to increase its ROI, it has to become more efficient. Therefore, streamlining ultrasounds gives you an opportunity to see more patients, diagnose more conditions, and get patients the treatment they need. Of course, it also means being able to boost your return on your ultrasound investment. Having to pull out the ultrasound and take extra time getting it going can slow things down. Make your processes flow smoothly by designating a person or place for ultrasounds so that the procedure can be simple and flawless and incredibly efficient.
Invest in a Maintenance Plan
Ultrasound machines can require a lot of care and maintenance to run efficiently. And if you are trying to boost your ROI, then you are going to want it to work well. By investing in an ultrasound maintenance plan, you can take preventative measures to keep your machine running as the manufacturer intended so that you won’t have to deal with any downtime (which may hurt your bottom line).
A Mindray TE5 ultrasound machine on a mobile trolley cart.
Calculating the ROI on Your Ultrasound Machine
We won’t get into detailed equations (that’s for your accountant), but we will go over some basic calculations you can do to have a general idea of your return. Ready? Here it goes.
Step One: Add up the cost of your portable ultrasound machine and any accessories that you purchased along with it.
Step Two: With an understanding of the average cost of the most common CPT Codes and the average number you will perform, you can estimate your increase in gross annual revenue from the ultrasound machine.
Step Three: Subtract your expenses associated with the ultrasound machine, such as the cost of the person performing the tests, the monthly lease and/or maintenance plan, and so forth.
As we said, this gives you a basic idea of how much your return could be - and now you also have ways you can increase it. If you are ready to get started or would like to learn more about the benefits of portable ultrasound machines, talk to the experts at Universal Diagnostic Solutions.
Contact us at 760-754-3288 for a free demo.