Physician Panic

How does a physician define "panic"? - When his or her take home pay begins to go down. Unfortunately for many physicians, this is becoming commonplace. The real tragedy is how doctors are reacting to this.

Most reactions are "knew-jerk" in nature. As a way to get incomes up, let's cut overhead to the bone to the point where it is actually hurting the practice; let's blame management (which in some cases should be done); let's blame other physicians in the group.

Doctor: look yourself in the mirror. Are you making decisions that need to be made? Are these decisions just a way to prop up profits in the short term but hurting the practice in the long term? Are unproductive physicians being mentoring or in some cases dealt with?

As I said in a prior post to this blog, leadership (both personally and professionaly) is vital.

My question to all physicians is this: Are you doing today what it takes to make the YOU and your practice the BEST it can be?

THINK ABOUT IT.

p.s. Sometimes confrontation is a good thing..........

About the Author

Reed Tinsley CPA

This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on accounting & tax, practice management, and financial planning. Schedule a Free Consultation.