Here's how you can effectively manage your finances and ensure profitability when working with physicians.

I believe budgeting in any field is very important. And with a field like ours it's very critical to draw the line where we can make enough money to sustain our practice and yet not over charge the patients. We need to make sure our investments are covered yet our expenses are met without paying from our pockets. Hence marinating a balance is important.

A good rune of thumb is to reserve five to ten percent of monthly revenue until you have 3 to 6 months of core expenses covered (rent/utilities/insurance/equipment payments/supplies). This is especially hard when the practice is just starting, but a disciplined approach can save a practitioner down the line when a personal health crisis, natural disaster, or a market force unexpectedly changes revenues. It gives the practice time to adjust without forcing the owner to dip into personal funds or seek outside funding under stress to keep the doors open.

It is very important to have a practice manager that understands the business of healthcare and how the revenue comes in. Collecting receivables up front or at the time of service is essential to keeping costs low and revenues consistent. Insurance companies offer online tools that indicate a patient’s copays, co-insurance, and deductibles. It is less expensive to have a staff member check these things ahead of time, than try to collect after the fact as there are real expenses in sending out bills, hiring collectors, and writing off bad debt. Additionally, make sure the practice is filing claims in a timely manner and holding insurance payors to timely reimbursement as per the terms of the agreement.

Seeking out innovative parters with product solutions is a very cost effective way to do this. One of the most expensive outlays for a practice can be medications delivered in the office setting with high price points, difficult storage requirements (temperature control) or short expiration dates. FFF Enterprises is a pharmaceutical wholesaler that has an innovative solution involving a pay-as-you dispense inventory management solution. Practitioners don’t pay for expensive drugs upfront, but rather utilize a cabinet installed in their office that monitors inventory like a vending machine tracking supply, temperature, and expectation dates, charging the practice only when an item is dispensed.

Descontruir. Por defini??o desconstruir é desfazer para reconstruir. Temos que estar preparados para fazer isso diariamente na nossa vida profissional, como um desafio diário. A cozinha é um ambiente exigente, que nos exige o máximo o tempo todo, por isso nos raspar diariamente tirando os vícios que acumulamos ao longo da nossa história mais do que um sinal de sobrevivência é sinal de inteligência e de amadurecimento profissional. Lance esse desfio a você e esteja pronto para se surpreender com um novo mundo que você desconhecia que existia bem perto de você, mas que lhe trará um enorme satisfa??o e crescimento pessoal e profissional. Boa caminhada e excelente desafio se topar iniciar essa jornada. Eu já Topei!!!! E você!?!?!?