Fresh perspective for financial success
Category: Practice Ownership
COVID-19 and its variants continue to impact our daily lives. With each passing day, the number of stories cataloging the spread of the virus increases—including in the workplace. Recently, news outlets have reported that a government office in Florida was affected, with the virus spreading throughout the IT department. Through advanced simulations, other media outlets have demonstrated how quickly and easily COVID can infect a…
For medical practices across the country, the coronavirus crisis put an abrupt stop to “patient care as usual.” But among the significant challenges and uncertainty created, there are also new opportunities for practice owners to make meaningful improvements that impact day-to-day operations as well as long-term profitability. Here are a few to consider: 1. Remodel or update…
In our latest episode of the BHG Field Report, CMO Chris Panebianco speaks with Dr. Alex Stavrianoudakis, a physical therapist who from a young age aspired to become a practice owner, and partnered with BHG to achieve his professional goals. Today, Dr. Stavrianoudakis is the co-owner of BioSport Physical Therapy in Modesto, CA and shares his experience working with BHG to secure both a commercial loan…
Municipalities throughout the United States are beginning to lift restrictions for businesses across sectors. As medical practices, dental practices and many small businesses are preparing to reopen, they also have a unique set of challenges to overcome. Here are solutions to some of the top financial challenges of the moment.
Budgeting as a business is hard enough. And budgeting as a medical practice presents its own set of challenges. Now that tax season has crashed down upon us, it’s time to start going over last year’s expenses, costs, and Uncle Sam debts. As you go over last year’s files, don’t forget you’re eligible for specific…
The greatest leaders teach others to lead. That’s all that leadership really is, right? Making space at the top for the next generation of thinkers, shapers, managers, and innovators is ultimately what we want to accomplish in our work. So how do we ensure we’re finding the right talent and grooming it well for the…
There are only four core technologies you need to run your practice. Yes, four. Now, you may disagree with some of the product choices below and you may feel that I’m leaving out other things like marketing and website technologies. I am. It’s not that these things aren’t important—but the following four categories are core…
It’s not easy finding qualified applicants for nonclinical positions. Between competition from other medical centers, higher pay in other industries triggering turnover, and low unemployment rates – the pool of qualified applicants is shallow at best. There’s only one thing to do. Pay your nonclinical staff more. And here’s why. Your front office employees are…
What does a subscription plan for frequent moviegoers have to do with a healthcare practice? A lot, if you’re considering offering a subscription plan for your patients. A subscription model—where you charge an annual or monthly fee for a laundry list of services—can be a very powerful and profitable way to build your healthcare business.…
If you’re looking to fill an open position for your medical practice—whether it’s a new physician or registered nurse—your job postings are often the first impression you’ll be making with candidates. In an industry like healthcare, where talent is spread thin, it’s imperative that your job postings are both standing out from the crowd and…