A large practice with10 providers feels like they are doing ok financially. After every business meeting, however, the partners leave with more financial questions than answers. They are presented numerous spreadsheets with data about their practice but do not understand the finances. Also, they do not have a sense of how they are doing compared to similar medical practices in their region. These spreadsheets that they review in the meetings have never been explained in a … [Read More...] about Case Study: What’s Up With All These Spreadsheets?
Main Content
Editors Pick
Technology Needs to Solve Problems—Not Amplify Them
The disaster that is the COVID-19 pandemic will leave large numbers of chronically ill patients requiring treatment for lung scarring, … [Read More...] about Technology Needs to Solve Problems—Not Amplify Them
Case Study: RJ’s Special Holiday Bonus
RJ has been a secretary with a large practice of eight physicians for the past seven years and has had only one raise in that time. Each … [Read More...] about Case Study: RJ’s Special Holiday Bonus
Latest Articles
Medical Practice Retirement Plan Fiduciary Responsibilities
What is a Fiduciary? A fiduciary is a person who owes a duty of care and trust to another and must act primarily for the benefit of the other in a … [Read More...] about Medical Practice Retirement Plan Fiduciary Responsibilities
Prior Authorizations Need Priority Solutions
The prior authorizations game is no game at all. Our patient’s well-being is at stake, and so is our own. The stress and frustration associated with … [Read More...] about Prior Authorizations Need Priority Solutions
Case Study: BY and the Performance Reviews
BY is the clinical administrator for a large multispecialty practice. As part of her role, BY handles clinical evaluations including annual employee … [Read More...] about Case Study: BY and the Performance Reviews
Case Study: Dr. SY Did the Credentialing
SY handled credentialing for a practice for several years but has recently retired from the practice. All of the recredentialing notifications went … [Read More...] about Case Study: Dr. SY Did the Credentialing
Things I Wish I Learned In Medical School
Learn the 12 Things I Wish I Learned In Medical School. If you would like a PDF download of any of the checklist, please join Smart Business Great … [Read More...] about Things I Wish I Learned In Medical School
Employee Retention Credits
There has been a flurry of legislative activity since the beginning of the pandemic one year ago. One item that might have flown beneath your radar is … [Read More...] about Employee Retention Credits
From Residency to Managing and Growing Your Medical Practice
Starting Out After years of studying, testing, and running on very little sleep, your body is adjusting from the intensive 80-hour work week of … [Read More...] about From Residency to Managing and Growing Your Medical Practice
Setting Financial Goals to Forecast and Achieve Financial Results
When it comes to the numbers side of the business, most of my physician clients have a very low pain threshold. I get it, you have plenty on your … [Read More...] about Setting Financial Goals to Forecast and Achieve Financial Results
Do Physicians Know How to Analyze Financial Statements?
Effective Analysis of Your Practice Financials—Think Big, Then Small A typical profit and loss statement may contain 30 or more different expenses … [Read More...] about Do Physicians Know How to Analyze Financial Statements?