Adding Employees in the Medical Field
Owners of growing medical practices often ask if they can afford to hire a new provider or bring their medical billing in-house. We have developed tools to determine the cost of adding medical practice employees. Clients are often shocked at the calculations. Our tools examine one-time upfront costs such as recruiting, credentialing and legal fees, […]
It’s Not The What, But The Why
The age of the infomercial seems to be at a close. Current trends are showing consumers are looking for authenticity and vulnerability from the business with which they shop. This need or desire for authenticity or “realism” is evident with the vast amount of reality television shows such as The Bachelor, Real Housewives of Beverly […]
13 Tips for a Successful Business
Here are 13 tips to help your business grow and succeed. 1. Invoice and collect on a timely basis Don’t forget to check your accounts receivables and aging reports for any balances that are outstanding. If after 30 thirty days you have failed to receive payment, set up a template and a reminder on […]
Some Winning Considerations for Solo Medical Practitioners
This is the first in a series of exclusive articles for ‘e-News from MAG’ that will highlight ways for private practice physicians to improve their practice’s financial performance. Solo primary care practices in small markets face a number of daunting challenges when it comes to keeping their doors open in today’s environment. Managing three critical […]
Looking for Good Employees?
Finding the right employees is a very important part of owning a business. More and more business owners say that they face. Before trying to find employees, the employer should have a detailed job description along with interview questions. If possible, the interview questions should be prepared by someone who has performed the tasks that […]
Ten Mistakes that Sabotage Business Success
As a business consultant I have seen many businesses struggling because they had made very basic and avoidable mistakes. Here is my list of ten mistakes to avoid. They are not in order of importance since any one of them can have serious consequences for the business. Failure to Plan. This one pertains not only […]
Exit Strategies Take Time and Planning
Most business owners want to sell their business at some point. Unfortunately most fail to plan effectively for this eventuality. In many cases owners cannot find a good buyer and end up liquidating their business for only the value of the assets. Prepping a business to sell for a premium price takes a significant amount […]
Making and Managing Profits
Small business owners start a business with the goal of making a profit using the premise that by increasing sales, profits will increase. While this is true to a point, there are incidents where businesses have increased sales to the point where they are operating at a loss. There could be many reasons for this […]