Covid-19 is changing our world forever. Every healthcare practice looks drastically different than 6 weeks ago. Before the pandemic, health care was struggling; COVID-19 has magnified the struggle. Let's not waste the opportunity to re-evaluate and strengthen our practices. Long gone are days when a practice could simply see patients and expect … [Read more...] about Planning a Comeback? Let us Help.
Growing the Practice
Financial Benchmarking: How Does Your Practice Compare to Others?
How Does Your Practice Stack Up? A helpful tool to check how you are doing financially is to compare your practice to your peers’ practices. The results can be eye-opening—you will often find you are doing well in areas where you thought you were struggling. On the other hand, if your practice is struggling in certain areas, financial benchmarks can provide … [Read more...] about Financial Benchmarking: How Does Your Practice Compare to Others?
Using Payroll Protection Program Money
The Payroll Protection Program (PPP) is a Small Business Association program funded by the CARES act. It was enacted as part of the federal government's stimulus package in response to the COVID-19 pandemic-related economic shutdown. The PPP provides low-interest (1%), no-fee loans that will be forgiven (converted to grants) if all employees are kept on the payroll for … [Read more...] about Using Payroll Protection Program Money
How Will the CARES Act Affect You?
The CARES Act was passed on March 27, 2020 to provide economic stimulus and relief related to the COVID-19 pandemic. As a result, our typical monthly tax tips have changed remarkably, least of all that the 2020 filing deadline for individuals and deadline for paying first quarter 2020 estimated taxes have both moved to July 15, 2020. The rollout of other relief … [Read more...] about How Will the CARES Act Affect You?
Bugs in the Spreadsheet?
Once you have seen your patients and managed your money, you’re then faced with the monthly meeting. For most practices, this includes a review of the financials. Unless you have an accounting degree, the spreadsheets often provide little truly actionable information. We must change this! Sadly, most of us spend a great deal of time reviewing productivity reports. When the … [Read more...] about Bugs in the Spreadsheet?