New Year, Sharper Pencil

New Year, Sharper Pencil

It’s 2025—time for a fresh start, a new outlook, and a better way of doing business, right? The
harsh reality is that the problems you left behind in 2024 may still be waiting for you in the new
calendar year. For many orthopaedic practices, the new year begins with reviewing the
numbers, strategizing payor contracts, and brainstorming ways to boost volumes. Yet, too often,
practices fall into the same traps that have hindered growth in years past.

To help you avoid common mistakes most practices make when hyperfocusing on cost cutting,
reimbursements, and volumes, use the insights below to help you navigate these challenges,
and turn this year into a stepping stone for long-term success.

1. Costs: Stop Buying What People Are Selling

One of the most common mistakes orthopaedic practices make is investing in prepackaged
sponsorships, random advertising deals, or media offerings that deliver little to no return. While
tempting, these advertisers are selling what they have and not what you need. There is no
question they are easy to implement and give a false sense of productivity, but years of Venel
tracking these strategies have shown that most fail to generate a single patient.

Instead of pursuing easy but ineffective solutions, prioritize initiatives that align with your goals
and deliver real value to patients and referral sources. Focus on targeted, strategic investments
that drive measurable results. And if you find that the Practice is still tempted by flashy
opportunities this year, note that you’re better off redirecting those funds toward a charitable
cause—one that will yield a greater impact for your practice and your community.

2. Reimbursement: Remember, It Is Still About Choice

While payors are steadily introducing value-based care models, the reality is that roughly 95% of
reimbursement remains tied to volume—cases and codes. Although programs like bundled
payments or value metrics are gaining traction, practice revenue and provider compensation are
still largely dependent on one key factor: patient choice.

Bundled payment models may increase reimbursement for certain cases, but if a patient
chooses a competitor, your reimbursement is zero. Focusing solely on value-based programs
while ignoring strategies that influence patient choice is shortsighted. Success comes from
striking a balance—aligning with emerging reimbursement models while prioritizing efforts to
attract and retain the right patients. In 2025, ensuring patients choose your practice will remain
the most critical driver of financial growth and stability.

3. Volume: Don’t Just Get the Word Out—Help Them Choose

Many orthopaedic practices waste resources on broad awareness campaigns, believing that
increased exposure will lead to better results. However, research spanning 27 U.S. markets, 137
practices, and 4,077 participants shows that awareness isn’t the problem. On average, for every
4.5 people who recognize an orthopaedic provider, only one actually prefers them when the
need arises. The real challenge is not being known—it’s being preferred.

In any given month, only 1% of the population requires musculoskeletal care. Identifying these
prospective patients and then helping them choose you is critical, especially when
reimbursement varies significantly between cases. Success lies in shifting from costly, mass
awareness campaigns to targeted messaging that resonates with the patients who matter most.

It’s not about being louder, spending more, or reaching more people—it’s about being relevant,
impactful, and giving patients a reason to choose your practice over others. Beyond attracting
the right patients, practices must leverage these relationships to encourage loyalty, referrals,
and repeat visits, making your service a trusted asset in their care journey.

By aligning marketing strategies with clear goals and tracking results, practices can avoid
wasting resources on ineffective tactics. Instead, focus on initiatives that not only drive the right
volume but also build long-term trust and preference. In today’s competitive environment, it’s
about finding the right patients to choose you—not just giving them more choices.

For over 35 years, Venel has exclusively pioneered orthopaedic patient-growth strategies for
practices nationwide, guiding thousands of orthopaedic surgeons through intricate discussions
on business development, strategic practice positioning, and tactical execution that fosters
sustainable growth year after year.

Venel is trusted by more orthopaedic surgeons than any other firm in the country. Learn why—
schedule a discussion today: https://www.venel.com/#contact