Many physicians see productivity as the sole measure of a healthy clinic. While it is true that a nonproductive clinic cannot stay open (see “To maximize productivity, use benchmarks, delegate tasks, and download free web-based tools”), no amount of productivity can save a clinic from wasteful spending or poor investments….
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Physicians who run their own clinics have many responsibilities: patients, employees, facilities, and their own income. Carefully tracking revenue and expenses must be a top priority, however, because a clinic cannot survive without adequate funding. “Financial review is a must for any business. In addition to stimulating growth, a review…
Read more »Physicians just starting out may not be certain of how to calculate fees for their medical services. While it is tempting to charge large fees in order to resolve debts and build a savings quickly, new physicians probably will not attract enough patients to sustain a clinic if their rates…
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One of the great mysteries of medicine for patients is why doctors charge what they do. Some are amazed at the fact that bright young doctors are willing to work long hours for patients whom they do not know, for an income that is not bad, but that is much…
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Established doctors who are busy and are at the peak of their careers typically see an exponential rise in their incomes. By virtue of this income growth, they manage to acquire their first house, a bigger clinic, and can save for important investments such as their children’s education. “Asset allocation…
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If you are one of the many Indian physicians who worked in United Kingdom (UK) for a period of time during your career, you most likely accumulated some funds in a UK Occupational Pension account. Until recently, this money remained invested in the account until your turned 65 years old….
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System Audit for Small Hospitals: Suggestions for Using a Purchase System
The Purchase System The objective of the purchase system is to make sure that the requirements of hospitals are purchased at the best possible prices, are available and are always accountable. The various aspects of a purchase system include planning, allocating funds, preparing, purchasing, receiving, storing and distributing the purchased…
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