Too many doctors fall prey to employee embezzlement due to a lack of internal financial controls. I know, because I’ve seen it happen. In at least one instance an office manager convinced her employers that a change in the accounting system was needed to save costs. A couple of years later I received a call […]
9 Simple Ways to Improve Motivation and Staff Performance
Working in a fast paced, high stress, healthcare environment can take its toll on your employees. As the leader of your team, it’s important to occasionally look for simple ways to improve motivation and staff performance. Don’t neglect caring for your staff in the same way that you care for your patients. After all, a […]
Is it Worth Collecting Small Patient Balances?
Collecting small patient balances is sometimes more work than it’s worth. To avoid losing money while trying to collect balances that won’t cover the cost, it’s helpful to have a separate policy for your staff in place. Define a cutoff for your small balance policy First, you need to define the cutoff for “small balances”. […]
Can I Deduct Business Expenses as an Employee?
Prior to January 1, 2018 employee business expenses could be deducted as an itemized deduction on your tax return if the amount, along with other miscellaneous deductions, exceeded 2% of your adjusted gross income. However, under the new TCJA tax law, all miscellaneous itemized deductions subject to the 2% floor are eliminated and have been […]
Concierge Medicine: 5 Things to Consider Before Joining an Affiliate Network Company
Concierge medicine is a young industry model gaining much talk and consideration among independent doctors. Personally, I think that the model is a good one and worth serious consideration for primary care. I have seen ambitious doctors start their own concierge practice and those that do can be successful on their own. However, most doctors […]
Why Your Patients No-Show and What to Do About It
No-shows do more than just waste your time. They’re costing you money. One popular estimate I’ve found pegs the average cost of no-shows in the healthcare industry at $150 billion annually. Another stat breaks that figure down to $150-200 in lost revenue per missed appointment for primary care physicians. Money statistics aside, no-shows are a […]