We have two clinics and will soon add a third. Should we keep separate financials — balance sheet, profit/loss, total charges, gross receipts, and so on — at each site, or have one total report?
Question: We have two clinics and will soon add a third. Should we keep separate financials - balance sheet, profit/loss, total charges, gross receipts, and so on - at each site, or have one total report?
Answer: It's really up to you, but most practices maintain the same financial statements for the practice, but separate management reports by site. That way, you don't have to allocate every penny of expenses, but you're also maintaining management information for each site.
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.
Reducing burnout with medical scribes
November 29th 2021Physicians Practice® spoke with Fernando Mendoza, MD, FAAP, FACEP, the founder and CEO of Scrivas, LLC, about the rising rates of reported burnout among physicians and how medical scribes might be able to alleviate some pressures from physicians.