Written by Reed Tinsley |
October 13, 2010
Better performing medical practices use the following techniques to increase profitability:
- strategic and profit planning;
- cost management;
- evaluation of capital structure and investments;
- evaluation of tax policy and management;
- internal controls; and
- financial reporting and performance evaluation.
Physician practices that have superior levels of performance in four areas:
- profitability and management costs;
- production, capacity and staffing;
- accounts receivable and collections; and
- managed care operations.
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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