Today’s medical practitioners often find themselves underprepared for the day-to-day challenge of running a business. You now face a system in which you provide services to patients and have to wait for payment by third-party insurers. These delays can hinder your ability to meet normal monthly business obligations for payroll, taxes—even the mortgage on your building. These cash flow challenges should not hamper your ability to take on new patients or to provide more services to existing patients.
Get the cash you need to cover all your expenses (like your PA’s salary). Don’t keep giving out more money than you’re pulling in. It’s your practice. You deserve the stability and cash your patients owe you.
- Pay your bills on time, even if your patients don’t. You’re not just a doctor — you’re an honest and reliable business person. You want to maintain that consistency even if your payments aren’t as reliable.
- Take on more customers. With the changing tides of healthcare laws and insurance regulations, it’s difficult to keep your customers with you for the long-run. Make that growth easier by reducing your cash demands!