Written by Reed Tinsley |
August 7, 2008
The recent Medicare payment scare that put fear in to the souls of physician practices, along with continued variations in the timing of payer reimbursement, reminds me to remind you that having a standby line of credit is not a bad idea. Whether you ever have to draw on it or not, at least it's in place in case of a cash flow emergency. It doesn't take a rocket scientist to figure out it's safer to have a LOC in place to draw on "before" an emergency than having to apply for a loan "during" times of emergency (or urgency).
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.
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