The private medical practice world is constantly changing. Not to mention unpredictable as lawmakers settle on health care reform. Private medical practice’s are faced with an increasingly larger uninsured and under insured population, State Medicaid cuts, increasing capital needs, and labor shortages.
Having an enthusiastic, intense, dedicated and even fanatical outlooks on your financial management is now more important than ever.
Remember, you are business and as such, you must align your responsibilities in an effort to remain competitive. Without a strong financial foundation, your practice will undoubtedly fail thus not being able to care for anyone.
To compete in this new, value-driven, fast-paced aggressive market, healthcare providers must carefully rethink each component of their practice. For their survival requires bold and decisive actions.