Are You Making These 5 Financial Mistakes In Your Medical Practice?

We know doctors don't get finance or accounting training during the time they spend in medical school. As a result, they tend to rely heavily on practice managers, accountants and other financial experts with managing their money.   But as medical practice owners (aka small business owners), the buck stops with the doctor. Thus, it is wise not to rely blindly on the "experts" and from time to time take a look at areas of the business for … [Read more...]

Learn How To Create A Budget For Your Medical Practice

In medicine, the mention of the word profit is often viewed or interpreted as a dirty word. It is as if the word does not belong in the lexicon when health care is addressed.   I argue (in the context of the private medical practice setting) that profitability is a medical practice's responsibility for one simple reason. If the medical practice (also known as a business) doesn’t deliver profits, health care providers are unable to provide for … [Read more...]

11 Straightforward And Practical Tips To Improve Your Practice’s Bottom Line

You do not have to be a marine captain to know that there are countless potential dangers navigating waters. With a little imagination you know there are many risks. Some hidden, like currents, while others are painfully apparent (i.e. howling winds, waves and torrential storms).   We know there isn’t anything the captain can do to eliminate weather conditions or enforce her will on ocean currents. However, we can all agree the captain … [Read more...]

11 Simple and Practice Tips To Improve Your Practice’s Bottom Line

You don’t need to be a marine captain to know that there are countless potential dangers navigating waters. With a little imagination you know there are many risks. Some hidden, like currents, while others are painfully apparent (i.e. howling winds, waves and torrential storms). We know there isn’t anything the captain can do to eliminate weather conditions or enforce her will on ocean currents. But we can all agree the captain has control … [Read more...]

10 Signs You Are An Over Stressed Medical Practice Administrator

I ran across this list a long time ago. So long ago, that I don't remember where I found it.  I can't take credit for all of them, but some are originals. Feel free to add your own. Enjoy! 1. You haven't booked your vacation yet because you are waiting to fill out a prior-authorization form. 2. You insist on setting an example so you schedule time with your friends and family in 10 - 15 min increments depending on the reason for the … [Read more...]

Why Your Practice Is Having A Hard Time Making Ends Meet

The front desk representative handed me a stack of forms to fill-out as soon as I announced I had an appointment with the specialist. It was the beginning of the year. Everything had to be updated. We all know the drill. While the front desk clerk was making copies of my insurance card (why do we still make copies?), I reached into my pocket to pull out the money to pay for the copay. When she got back to her chair I extended my hand with … [Read more...]

Customer Service Axioms For Your Pediatric Practice

Have you noticed that everybody knows how to deliver exceptional customer service, except those that actually do? We're all customer service connoisseurs. We all can recognize excellent service. And we are even better at pointing out bad service. But when it comes time to execute, most fail. I think that the reason customer service is hard to execute, is not because we don't know how to, but because we easily forget. We often get wrapped up in … [Read more...]

Time Management Lesson That Has Helped Me Increase My Productivity

Last year, I put myself at a crossroad. I'm sure you've been at the same crossroads before. It is where things to do, the things I want to do, and things I had to do intersected with this little nuance we all agreed to call time (or lack thereof). Like many, I would find ways to be more efficient and find ways to get better at time management. But this strategy was not working out. I was still overworked and felt unproductive as if I was in a … [Read more...]

Q/A With Dr. Kristen Stuppy: Mother, Wife, Practicing Pediatrician, and Social Media Maven

Last year, Dr. Kristen Stuppy and I had an opportunity to do a webinar together for the AAP about social media. While preparing for the webinar and deciding on the content we were going to address, Dr. Stuppy and I exchanged several emails. Below, I’ve compiled our email and phone conversation along with the questions I asked Dr. Stuppy in preparation for the webinar. Dr. Stuppy’s answers provide a lot of insight in to the value of social … [Read more...]

Big is Not Necessary Better – How a Solo Doctor is Changing Pediatric Healthcare in Her Own Way [Pediatric Practice Management AwesomeCast]

Today on the AwesomeCast, we had the pleasure to talk to Dr. Robin Warner. Dr Warner is a solo doc outside of Cleveland. Chip and I were interested in talking to Dr. Warner for several reasons. For starters, we wanted to learn about her experience as a solo doc. We also uncovered some interesting patterns that I think are great lessons for those of us that have smaller practices. Dr. Warner also shared a project she has been working on that … [Read more...]