A buy sell agreement is a contract between the owners (or the owners and the business entity itself) that establishes rules and restrictions applicable to changes in ownership. Typically, the buy sell agreement provides that an owner’s interest in the business will be sold at a specified price to the other owner and/or to the […]
Can I Withdraw Money From My Retirement Plan for Postgraduate Courses?
Yes. You can withdraw money from your retirement plan without penalty for postgraduate courses. But understand that doing so may impact your retirement plan and financial goals. I received this question over the weekend: “Mike, I had asked you previously about withdrawing money from our retirement plan. You responded that with all the penalties and […]
How to Find A New Office Staff Member
How do you find a new office staff member? You need the type of person who you can trust, who knows their stuff and will fit in as a great team player. Sometimes you get lucky and don’t need to look very far at all. A few years ago I had an individual that I […]
Understanding Cash Flow: 4 Strategies to Increase Working Capital in Your Practice
Cash flow is the most important measure of the financial health of your practice. Healthy cash flow means that you have more money coming in than going out. A steady stream of cash allows you to pay your staff and your bills on time. In this post, we’ll cover exactly why cash flow is so […]
Do This to Make Your Patients Feel Welcome on Their First Visit
Have you ever walked into a place for the first time and felt like a fish out of water? If so, you can probably relate to my first visit to Jimmy John’s. I was driving back from an afternoon visit with a client when the sign “World’s Greatest Sandwich” caught my eye. Hungry and curious, […]
4 Steps to Consider Before Working With a Collection Agency
A doctor should give think carefully before working with a collection agency. How will it affect your patient relationships? Are their fees worth it? Do they specialize in healthcare clients? These are the type of questions we’ll try to answer in this post. Here are four steps to consider when making the decision to turn […]