It’s That Time of Year Again – Part 5

Here are the last 2 - now get to work.

I RESOLVE to consider a practice merger   Consider a practice merger to eliminate duplicate overhead, to increase revenue, to possibly gain some leverage over the manage care payers, and to provide a transition strategy. These are just a few of the potential benefits. If done right, a practice merger can not only increase physician incomes, but maintain some of the autonomy most physician’s desire.

Finally, I RESOLVE to hire the best people   Again, I want to emphasize the simple and honest fact that the better performing practices out there are the ones doing the best job at human resources. One way they do this is by hiring the best people they can, even if it costs a little more to do so.  This means strict attention must be paid to the hiring process. It is so easy to see how hiring really good people can turbo charge a practice almost overnight.

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.