11.04.24

Understanding Your Financial Statements
Kevin Omahen

There are two main financial statements involved in every Practice, an income statement and a balance sheet. Both statements paint a completely different picture and understanding the basics of each is important when you are evaluating past performance and planning for future performance. Income statements For medical practices that generate them regularly, P&L statements provide […]

09.19.24

How to Protect Your Practice from Ransomware Attacks
Carrie Hale

Businesses and, more importantly, medical practices, face constant threat from cyberattacks. Incidents in health care are on the rise according to the The U.S. Department of Health and Human Services Office for Civil Rights.  This year, one of the largest ransomware cyberattacks in history disrupted payments to providers for weeks when Change Healthcare System was […]

07.30.24

Can You Use AI in Your Medical Practice? 
Jason Flahive

In November 2022, artificial intelligence (AI) got a lot of attention with the launch of ChatGPT, a “chatbot” developed by OpenAI. Users can converse with the chatbot in a fairly sophisticated way via questions that steer conversations toward answers of any desired type, length, style and format. Although AI has the potential to transform many […]

03.14.24

A World-Class Workforce
Kevin Omahen

A world-class workforce What keeps employees happy? Is it money, work-life balance or advancement opportunities? Perhaps some mix of all three? It is important to understand what interests your employees and that it is not a one-size-fits-all scenario. For some employees, there is a clear number one reason that they stay: money. However, for others, […]

11.28.23

Are You Overlooking the Implicit Costs of Your Medical Practice?
Carrie Hale

If you have run your medical practice for any length of time, you know it incurs a wide variety of costs. To get a better handle on these costs and perhaps identify ways to lower them, it can be helpful to divide them into two broad groups: explicit and implicit. Explicit vs. implicit Explicit costs […]

09.28.23

What Does Your Staff Want from You?
Kelly H. Buchheit

As a medical professional, you probably have a clear idea of what you want from your staff, but do you know what they want from you? Finding the answers to this question can be highly beneficial for the long-term stability and profitability of your medical practice. Related Read: How To Strengthen Staff Culture After a […]

07.19.23

Keeping Up with Cybersecurity is Essential to HIPAA Compliance
Jason Flahive

Over the past few years, as a result of the COVID-19 pandemic as well as other developments in the medical arena, practices have increasingly relied on technology. This includes the much wider use of telehealth as well as electronic health records (EHR), online medical portals, and appointment confirmations via email and text. Although technology is […]

05.18.23

The Power of Connection: Six Tips for Improving Your Bedside Manner with Patients
Kevin Omahen

Healthcare is fast-paced and physicians are becoming more and more crunched for time. However, the industry is still very competitive and everyone is looking for an edge. Being a well-rounded physician is not just being an expert and providing great care, but also being able to relate to your patients and be personable. This blog […]

02.13.23

Reviewing Your Revenue Cycle and Adjusting as Necessary
Kelly H. Buchheit

As a physician, the most important aspect of your practice is likely providing excellent care to your patients. But all the good patient care in the world will mean nothing if your revenue cycle collapses and you have to close down. Indeed, over time, a malfunctioning revenue cycle can drag your practice to a halt. […]

12.21.22

Ask These Questions Before Your Healthcare Organization Pursues a Merger or Acquisition
Jason Flahive

Your guide to making sure that your transaction decisions are what is best for your company Mergers and acquisitions (M&A) remain a key growth strategy in the health care sector for 2022 and beyond. With high valuations and uncertainty around future market trends, it is important that healthcare organizations carefully consider if an M&A deal […]