10 Areas of Financial Waste to Cut at Your Practice
Medical practices are carrying more financial waste than they realize, according to experts. Here are a few areas to trim the fat.
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:CLICK THROUGH THE ARROWS ON THE IMAGES TO NAVIGATE THE SLIDESHOW.If you have any comments on this article email editor@physicianspractice.com. We'll publish the best ones!
Asset Protection and Financial Planning
December 6th 2021Asset protection attorney and regular Physicians Practice contributor Ike Devji and Anthony Williams, an investment advisor representative and the founder and president of Mosaic Financial Associates, discuss the impact of COVID-19 on high-earner assets and financial planning, impending tax changes, common asset protection and wealth preservation mistakes high earners make, and more.
Is your practice ready for the Trump tariffs?
April 7th 2025Tariffs are set to drive up costs across industries — including health care — impacting everything from medical supplies to retirement accounts. Take a look at the ripple effects on medical practices and some proactive strategies for physicians to stay one step ahead.
