Cutting costs of staff fringe benefits, but not to the quick

Written by Reed Tinsley | February 11, 2008

Although you want to remain competitive about benefits, cost-conscious medical practices have begun evaluating health insurance premiums, retirement plan contributions, and staff education outlays more closely than ever. If you haven't taken a hard look at these overhead items, now it the time, because significant savings may be in the offing.

But don't change programs casually. It's more important to hire and hold good employees who serve your patients well. If you do trim any perks, communicate effectively with the affected staffers so cost-cutting won't cost you more than you save.

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.

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