Many patients want an earlier appointment. Many offices have cancellations and no-shows. Often offices use a waitlist to try to solve both problems, but waitlists have their share of problems, especially when not optimized. It is possible to address waitlist problems while enhancing the patient experience, however. Managing patient waitlists is an important part of having a … [Read more...] about Patient Waitlists
Administrative Excellence
COVID-19 Proves a Need for Health System Overhaul to Salvage the Future
Rural areas feel the pressures of the COVID-19 pandemic in a disproportionate way with greater challenges, including older populations, more health problems, economic disadvantages, and fewer and less sophisticated medical facilities, and more. Where I practice, West Alabama—the center of the stroke belt—exemplifies these characteristics. This area was underserved before the … [Read more...] about COVID-19 Proves a Need for Health System Overhaul to Salvage the Future
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 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?
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
Why is a Business Continuity Plan Important?
A Business Continuity Plan (BCP) defines the who, what, when, and where for how your medical practice personnel are to respond to a disruption of their normal operations. More specifically, the BCP includes a predetermined set of procedures and documentation that defines the resources, actions, tasks, data, and processing priorities required to manage business … [Read more...] about Why is a Business Continuity Plan Important?