How can Refera help my practice generate revenue and justify the investment?

We understand that investing in a platform like Refera represents a significant commitment, so let’s break down the value Refera brings to General Practices, Specialty Practices, and those with In-House Specialists. The bottom line? Refera helps you capture more specialty care, streamline workflows, and drive measurable revenue growth.

1. General Practices

Historically, only 50% of patients referred to specialists via paper follow through. With Refera, our system increases referral conversion rates by 60%, ensuring more patients complete their specialty care and return to their GP for continued treatment. Here's how we do it:

Specialist Proactive Engagement: Specialists can directly reach out to patients, reducing delays and missed follow-ups.
Improved Coordination: GPs gain full visibility into the referral process, ensuring patients complete their treatment plans without unnecessary delays.
Higher ROI: The system ensures more patients complete care and return for follow-up services, where the average treatment plan value often exceeds our subscription price.
Strategic Insights: Refera provides visibility into referred cases, helping you identify opportunities to retain more treatments in-house.

Example Impact: If your average treatment plan value is $1,000 and Refera helps ensure just 10 additional patients per month complete their care, that’s an extra $120,000 annually—far exceeding the cost of Refera.

2. Specialty Practices

For specialty practices, the benefits are even more pronounced, with higher patient conversion rates directly translating into revenue:

Simplified Referral Management: No more paper trails or follow-up delays—GPs can refer electronically, ensuring seamless communication.
Higher Conversion Rates: Proactive outreach by specialists boosts conversion rates by 60%.
Significant Revenue Per Referral: With an average referral generating $2,000–$5,000 in revenue, each completed referral makes a significant financial impact.

Example Impact: A practice handling 50 referrals monthly could generate an additional $60,000–$150,000 annually from improved conversion rates alone. Even a small increase in referral volume creates a substantial ROI.

3. Practices with In-House Specialists

For practices with in-house specialists, Refera offers unique advantages by optimizing internal workflows and external referral opportunities:

Enhanced Coordination: In-house specialists can operate as distinct entities while maintaining seamless coordination with the GP team.
Optimized External Referrals: Cases sent outside the practice are managed with higher conversion rates, ensuring care isn’t lost to inefficiencies.
Strategic Insights for Growth: By tracking referrals, you can identify opportunities to expand your in-house specialist offerings or add services to capture more revenue.

Example Impact: By identifying high-value procedures being referred out and bringing them in-house, you not only capture more revenue but also improve the patient experience by offering comprehensive care under one roof.

Why Refera?

The efficiencies and revenue growth enabled by Refera mean that the investment pays for itself many times over. For example, a group with 50 practices paying $200 per practice per month (totaling $120,000 annually) would see significant returns if the platform ensures just a small percentage of referred patients complete their care. With Refera, you’re not just investing in technology—you’re investing in your practice’s growth, efficiency, and patient outcomes.