Archives : profit margin
Consider the cost of doing business
In determining whether you should sign a contract with a third party payer, it is imperative to know your cost of doing business. Often clinicians sign contracts with third party payers to gain “in-network” status, hoping to increase their patient volume.
However, if the contract does not reimburse at a rate higher than the cost of providing the care, the “in-network” status and accompanying patient can actually drive the clinic out of business. Increasing the…
Be vision driven and mission essential
I left the hospital environment to focus on the business side of private practice healthcare because as my career unfolded I didn’t identify as much with the relatively slower moving, bureaucratic tendencies of larger healthcare organizations. I just wasn’t as fired up as I wanted to be and really felt I needed to follow my bliss in order to be most effective – and most happy. I thought this would not only make me a better,…
