10 Areas of Financial Waste to Cut at Your Practice

March 19, 2018

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!