Medical Practice Management
May 31

Physicians feel weighed down by business responsibilities

In a recent Medical Econcomics (www.memag.com) poll, 4 of 5 physicians find it challenging to maintain their dual roles of doctor and businessperson, and 76% expect that challenge to get harder over the next few years. The following are the most common practice management challenges listed in the poll and the % of physicians citing each:

56% Automating patient records

54% Managing slow party reimbursement

48% Managing malpractice insurance costs/coverage

42% Collecting payments directly from patients

36% Expanding patient base

36% Managing accounts receivable

31% Adding and updating medical equipment

22% Earning adequate net income to compensate partners

22% Finding the right providers or additional providers

12% Finding financing for expansion

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →