SBGM

Knowledge to Transform Your Medical Practice

Trey Whitt CPA

Choosing an Accountant

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“Why should I choose you?” is a question I hear often from physicians who are contemplating a change. My typical response is that I am not saying you should—at least not without doing your homework first. Choosing an accountant is a very personal decision, and although I might be a perfect fit for one practice, I might by a lousy fit for another. When contemplating a change, … [Read more...] about Choosing an Accountant

Why Revenue Matters Most

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As a CPA and business advisor to medical practices, I am often called to diagnose the cause of financial underperformance. Common themes emerge as these conversations unfold: “I am working harder every year.” “Everybody in my office gets a raise every year except me.” “Our health insurance goes up 10% or more every year.” “Just when I think I am getting ahead, … [Read more...] about Why Revenue Matters Most

Setting Financial Goals to Forecast and Achieve Financial Results

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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 plate, and although I may think accounting and tax are super exciting, I am well aware that I am in the minority! So, when I am talking about financial performance with a doctor, the conversation normally centers on “How did I do?” … [Read more...] about Setting Financial Goals to Forecast and Achieve Financial Results

Fixed Vs Variable Expenses

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If you want to improve your financial performance, the first step is understanding what your practice financial statements are telling you. Your profit and loss (P&L) statement is a report card that tells you how you did over a certain period of time. The P&L will have little influence over future decisions, however, if you are unable to determine what can change an ‘F’ … [Read more...] about Fixed Vs Variable Expenses