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When to Add Staff
I have a new office with two employees. We are seeing about 13 people per day, which puts us close to breaking even for the day. Is there a practical reference that will help me to decide at what point it is best to add another employee?
Question: I have a new office with two employees. We are seeing about 13 people per day, which puts us close to breaking even for the day. Is there a practical reference that will help me to decide at what point it is best to add another employee?
Answer: There is no hard and fast rule, although I’d say you’ll want at least 30 patients a day. You want to know that you’ll be profitable enough to cover the expense and still pay yourself.
I seem to be talking to more and more physicians who are purposefully keeping staffing (and patient panels) low. They prefer low overhead even if it also means less revenue. They make less, but keep more of it.
Run some models for your practice. If you added another staffer, how many more patients would you be able to see? Up to 40 or even more per day per physician is increasingly common. If you saw that many, what would your revenue be? Would it cover the additional costs? Barely? Or well enough to make the aggravation worth it?
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.
