To Invest or Not to Invest in the Medical Practice

Successful practices invest time and money to grow and improve. This includes sending staff for training (and paying them for the time), keeping current with information technology, purchasing new equipment and making building or office improvements.

A practice that is afraid to take financial risks rarely thrives.

I know, we need to keep expenses under control. And I agree. But buying an inexpensive fax or copy machine may be easier on your bank account, but if it can’t handle the workload, it will cost you in the long run both in terms of time and staff frustration.
Being a penny-pincher when making capital equipment purchases is a mistake. It is important that employees have the proper tools to do their jobs. As well as assess the cost/ benefit analysis which should include more than your immediate dollar outlay.