At VonLehman, our Healthcare Services Group clients have come to expect great insight and keen strategic knowledge from our teams. From single-practitioner offices to large specialty clinical practices, our expertise is renowned throughout the region. With offices in Kentucky, Ohio and Indiana, from Tax to Audit, from Business Advisory to Business Evaluation Services, our accountants and businesses advisors assist with every issue impacting healthcare practices in today's economy.
Along with great client service, VonLehman's Healthcare Services Group team members are often asked to contribute their insight and expertise to trade publications, seminars, rountables and professional journals. Below are some basic tips that Tom Ruberg, CPA and leader of our Healthcare Services Group, has prepared for any healthcare practice trying to flourish in today's unpredictable environment.
A healthy bottom line takes strategic guidance -- in any economic situation.
Here are 5 forward thinking tips for Healthcare Practices to get you started, contact Tom Ruberg with any questions, or for further information.
1. Review every line of expense as an investment and evaluate it based on its return on your investment.
2. Personnel generally makes up over 50% of any practice's overhead. Staffing costs is saved in minutes not bodies. Benefits should be reviewed regularly.
3. Your greatest revenue source may be just filling your schedule. Analyze your actual scheduling relative to your expected scheduling or template.
4. Outline and review your clinical and business processes. The advent of EMR and more high deductible plans dictates changes must be made.
5. Have your third party contracts summarized and reviewed on every anniversary date, and stay in touch with your payer sources.
Visit www.vlcpa.com/Healthcare-services to learn more.
All articles are © VonLehman & Company Inc. All rights reserved.