Let’s Talk About What Happened In Vegas

My friends from the Pediatric Management Institute (PMI) put on another great practice management conference in Las Vegas last January. The content was excellent, thanks to the fabulous faculty PMI brought in. The topics varied from customer service principles to fundamental changes happening in the health insurance industry and how those changes are - or soon will be - affecting doctors' financial bottom line. Below are a few highlights … [Read more...]

Let's Talk About What Happened In Vegas

My friends from the Pediatric Management Institute (PMI) put on another great practice management conference in Las Vegas last January. The content was excellent, thanks to the fabulous faculty PMI brought in. The topics varied from customer service principles to fundamental changes happening in the health insurance industry and how those changes are - or soon will be - affecting doctors' financial bottom line. Below are a few highlights and … [Read more...]

What Does A Convenient Store And A Medical Practice Have In Common? 

The answer is, Cost Accounting. Cost accounting is one of those topics that you either find fascinating (this makes you an accountant) or find it as boring as watching reruns on C-Span. If you belong to the latter group, don't worry. I got you covered. Using a convenient store as the backdrop for the narrative, my friend Paul shares in the video below, the fundamental business principle of cost accounting and how independent pediatric … [Read more...]

#6 Learning Steps to Budget for Your Medical Practice [Practice Management VideoCast]

In this episode, Chip and I have our first guest. Paul Vanchiere was kind enough to sit down with us to talk about budgeting. Why budgeting? Well, I suspect that this is an area where many practice don't excel. If you are part of a larger group, the likelihood you have a sound budgeting process that is sophisticated. But for those in smaller offices, not so much. Paul is a great guest because he has been worked in many different healthcare … [Read more...]

How much does it cost to see a patient in your medical office?

If y0u were to ask the average business owner, how much does it cost to make widgets, my guess is that 9 out of 10 would know exactly what that figure is. On the other hand, if you were to ask a doctor who owns the practice, how much is it costing you to see each patient, I’d argue 9 out of 10 wouldn’t know. Now, I’m making huge assumptions of course, but I think the point is valid. Doctor’s offices do a very poor job of understanding basic … [Read more...]

Sharing the Practice Management Love Part 2: Cost

Yesterday, I kicked off a series that gives readers a peak at some of the things our practice has been doing in order to stay strong as a practice and more important, as a business. The posts are motivated by seeing a lot of experts online recommending how to do things better, yet never really providing  practical examples of their recommendations. I’m not suggesting medical consultants and experts don’t have good ideas.  I just like to hear … [Read more...]