Finance experts can spot fiscal waste almost from the moment they walk into a doctor’s office, clinic, or hospital. However, medical practice administrators and clinicians can easily overlook inefficiencies in the day-to-day rush to treat patients.
Waste can occur in obvious ways, like overordering supplies or failing to shop for the best deals, and in less-obvious ways, like mismanaging staff or neglecting maintenance of expensive equipment. Sometimes a little spending now can lead to big savings in the future.
Here are a few ways to reduce financial waste, according to practice management and accounting professionals from across the country:
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