Precision Profitability: Smart decisions, informed by data.
Dr. Sharma is experiencing growing pains in her medical practice. While patient volume is increasing, her net income isn't growing proportionally. She suspects certain procedures or services are less profitable than others, but lacks a clear, data-driven understanding of her marginal costs and revenues. She also wants to determine if adding staff is a good idea financially.
By utilizing Golden Door Asset's Marginal Cost and Revenue Calculator, we identified that Dr. Sharma's initial consultations were significantly underpriced, costing $75 per consult and generating $50 in revenue. The calculator determined she should increase her prices by at least $25 per consult, making them $75. We also determined that hiring a new assistant for $55,000 per year will streamline operations and allow Dr. Sharma to see 5 more patients per week, generating an additional $100,000 in annual revenue.
The Marginal Cost and Revenue Calculator required inputting detailed cost breakdowns for each service, including staff time, materials, and overhead. Data was then analyzed to determine the optimal pricing and staffing levels.
$63,000 increase in annual profit after one year, achieved by optimizing pricing strategies and staffing decisions, leading to faster student loan payoff.
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