Current wisdom in the world of business suggests that companies can benefit greatly from developing a strengths-based company culture. What’s that? It means having your employees do the work that suits their strengths and hiring people with the strengths needed for their roles. This thought raises a serious question for your practice. In the name of capitalizing on your team’s strengths, should you be outsourcing compliance?
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Benjamin Franklin said, “The only things of certainty are death and taxes,” neither of which we look forward to. No one likes to talk or think about their taxes; however, hiding under our proverbial blankets until April 15, and hoping for the best, is a sure-fire way to pay more and keep less. Like many of us, I employ an accounting firm to be sure that I am not paying more than I should. But what I have found is that while many accountants are great accountants, they are not always great tax strategists.
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Often, when we think about reviewing Accounts Receivable reports, we overlook the liability of credit balances. We tend to focus most of our attention on commercial payers and accounts that are over 60-90 days past due, but ignore balances with a credit that, unfortunately, can leave your practice open to numerous business and financial risks.
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You look over at your computer screen to access the patient’s chart, and you’re greeted with a demand for payment before you can regain access. It says you either pay the ransom immediately or your entire computer network will be locked down to the point of being unusable. What do you do? Read this article to learn more!
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Health insurance can be a source of anxiety and stress for your patients. They don’t always know what their plans will cover in your office. Often, this can also create anxiety and stress in your clinic when your patients receive statements for much more than they expected to pay out-of-pocket.
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As busy business owners and doctors, your patients are looking for consistency and reliability in all areas of your business.
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Almost 40% of patients are now covered by a high deductible health plan, leaving you to collect significantly more from your patients.
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Dr. Foxworth covers a few fears that truly sabotage chiropractic physicians’ success and may be preventing doctors from developing patient loyalty.
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