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| Changes are on the horizon … and they’re all about quality
Happy New Year! Now it’s time to review your financials
To be or not to be … an employee — Does your practice have what it takes to survive?
This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters and, accordingly, assume no liability whatsoever in connection with its use. ©2011 VSwi11 |
Until recently, the measurement of outcomes of clinical procedures and protocols has been limited to large physician groups, research organizations and hospital systems that devote resources to defining how well they’re performing. But changes are on the horizon. This article shows how market forces, coupled with new technologies, have not only improved care, but spurred a new trend to measure whether and how these changes are improving one’s practice.
Financial statements can tell a practice more than how much it earned that year. This article shows how “listening” to their practice through financial statements and understanding the proper use of financial ratios can help providers learn a lot about what’s happening while they try to perform their clinical duties. It offers five specific tips, and provides a guide to some common ratios used to analyze a medical practice’s financial health as well as average targets relating to each.
Many physicians are leaving their private practices to become employees of hospitals and health systems. Yet, many practices are holding their own and some are even thriving. This article shows how a successful practice ensures that it’s financially sound, allows the physician a clinical and personal lifestyle that he or she enjoys and receives regular recognition for providing quality care. It also shows that being an employee may be a better option for some physicians: for, while any physician that’s licensed and trained can treat patients, not every physician can run a business that treats patients.