One of the most problematic areas of medical practice valuation is establishing a clear understanding of the factors a valuator must assess in order to arrive at an appropriate fair market value for a medical practice. Failure by one valuator or another to understand these factors can lead to an … [Read more...]
About Reed Tinsley, CPA
Developing a Physician Merger Team
The Physician Merger Team Well, the first date turned out to be a good one and everyone wants to move forward. The physicians have decided to form a merger committee, participants from the respective medical practices have been selected and everyone is raring to get started. What’s next? One of the … [Read more...]
Handling an Unhappy or Irate Patient
The Irate Patient The following is a situation that recently happened in a physician’s office: An irate patient came in to complain about the "no show" charge of $50. The administrator along with the billing manager went out to meet with him. His first comment was that he only wanted to speak with … [Read more...]
Motivate Medical Office Staff and Enhance Productivity
Motivate medical office staff and enhance productivity With all of the responsibilities and demands that medical office staff face on a daily basis (e.g., unhappy patients to cope with, incessant calls to answer, and insurers to battle), keeping staff motivated can often prove a daunting … [Read more...]
Mid-year Tax Planning Strategies for Physicians
Personal Tax Planning Strategies I hope that you and your loved ones are safe as you deal with the current COVID-19 crisis. What an incredibly difficult year this has been! This most recent tax season was unlike any we’ve ever experienced. With the spring deadline postponed until July 15, it may … [Read more...]
Succession Planning for Solo and Group Medical Practices
Succession Planning Whether you are a solo practicing physician or a member in a larger group practice, it’s wise to begin thinking about succession planning. I have found in my consulting practice that many physicians seem to wait until the last minute to address the issue of succession. With … [Read more...]