Practice Review

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Financial Management for Medical Practices:

Many medical practices are diligent in reviewing quarterly income and revenue statements, but rarely assess overhead costs and vendor expenses with similar vigor. A one-time, end of year review of these costs, prevent the practice from making strategic adjustments to their spending, adjustments that could positively impact their year end profits.

overworked3Medical practice financial management requires close monitoring of both fixed and variable expenses, to identify potential cost saving areas.

This is a tedious job no doubt, and most practice managers are so busy handling the day to day operations, they have little time for such an involved review…….

 

This where Smart MD’s Financial Management Services can help….

We’ll perform a complete review of your practice’s overheadMedical Practice Financial Management-analyzebusiness costs and expenses, to identify any large and/or small cost saving potentials for the practice. This includes review of current vendor contracts & pricing, creation and submission of Requests for Proposal (RFP’s) to current and new vendors, price proposal reviews, presentation of proposals to practice management, and implementation (or assistance with implementation) of new contracts once signed.

SMART MD is not a replacement for your office manager or practice administrator; rather, we hope to compliment the job they are already performing, by assisting and/or training your management staff on this process. Ultimately, we want to provide your staff with the necessary tools to perform this same analysis, on regular intervals throughout the calendar year.

SMART MD is not just about identifying or fixing short term issues for your practice. Instead, our goal is to assist you and your staff to implement the best practices to fit your needs, and ensure long-term solutions, for a positive outcome year after year.

You and your team are working hard enough already……. Why not enlist SMART MD Practices to do the financial management work your office needs.

Give us a call today, the consultation is free, and we’ll provide you with a quote for service!