Effective Analysis of Your Practice Financials—Think Big, Then Small A typical profit and loss statement may contain 30 or more different expenses categories, making it easy to get lost in the little details when searching for the things that matter most to your financial success. In the post Why Revenue Matters Most, I explained why revenue is the more important number … [Read more...] about Do Physicians Know How to Analyze Financial Statements?
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The Basics of Balance Sheet Analysis
The most well-understood financial statement is the profit and loss statement. Over a stated period of time—typically, a month, a quarter or a year— the P & L tells you how the money came in and how it went out. What the P & L does not tell you is what you did with your profits and how financially strong your practice is as a result of those decisions. Your … [Read more...] about The Basics of Balance Sheet Analysis
Case Study: PA Feels Heard by Her Doctor
PA was nervous going to a new primary care provider. She has no major medical concerns but does not like going to the doctor because of prior bad experiences. When Dr. B entered the room for the first visit, she sat down and pushed her computer to the side. Dr. B looked PA in the eyes to start the conversation and said, “tell me your story,” sitting back ready to listen. PA … [Read more...] about Case Study: PA Feels Heard by Her Doctor
Using Research to Engage Patients
Traditional Engagement for Research Traditionally, basic science research and clinical research have been performed in the university setting. Pharmaceutical and device trials are frequently performed in both the university and private practice settings. The approach to patient engagement as it pertains to research was typically directed towards patient recruitment … [Read more...] about Using Research to Engage Patients
Real Engagement: Love Your Patients
Liking Patients Dr. JS likes his patients – Fantastic! It is wonderful when we like our patients. Dealing with people you like makes the day much more enjoyable. It is certainly easier to go the extra mile for someone you like. It is even easier when the patients like you too. This usually results in a pleasant visit. In these instances, the patient will often ask … [Read more...] about Real Engagement: Love Your Patients