#6 Learning Steps to Budget for Your Medical Practice [Practice Management VideoCast]

In this episode, Chip and I have our first guest. Paul Vanchiere was kind enough to sit down with us to talk about budgeting.

Why budgeting? Well, I suspect that this is an area where many practice don’t excel. If you are part of a larger group, the likelihood you have a sound budgeting process that is sophisticated. But for those in smaller offices, not so much.

Paul is a great guest because he has been worked in many different healthcare setting. This experience has given him a unique perspective that I find interesting.  And it so happens, he’s worked a lot on budgeting for both large and small practice.

Paul highlights 3 key issues that we ought to consider in order to properly budget for our office. The are:

  1. Capacity
  2. Payment – Revenue per encounter
  3. Expenses

Want to learn more about these 3 keys? Then watch the video.

Before you go though, let me mention a few things.

Podcast

We make the video into a podcast so that you can download it and listen to it at your leisure. The podcast goes for about an hour. Chip, Paul and I stick around and continue talking…. we sometimes leave “nuggets” of info towards the end.

You can go to iTunes, search for pediatric practice management or go to this link if you are not fond of the iTunes ecosystem. http://ppmmc.libsyn.com/episode-6-03-06-13-setting-a-practice-budget

Seminars

Paul is doing seminar in several parts of the US this year where he will address budgeting and other practice management issues. If you are interested in them, follow this link: http://www.pediatricmanagementinstitute.com/

OK, here is the video: