Doctors CFO Blog
What Does Your CPA Expect Your Spouse or Long Term Partner to Know About Your Practice?
Our last blog article detailed the information that your CFO would expect your spouse or long-term partner to know in case of an emergency. Serious injury, illness, or death of a practice owner would leave the spouse to carry on indefinitely or until the sale of the...
How Will Standards Align Employees and Improve Outcomes?
Our last few blogs have focused on what a spouse or trusted long term partner of a practice owner should know in case of an event that would force them to take over the practice for a short amount of time or indefinitely. We went over the things that the practice CFO...
Pop Goes the Weasel
Our previous blog was about how employees are treated differently based on their training, skills, and work ethic. We emphasized the importance of having standards to align your team members to. Our poll question asked "Does your practice have written protocols /...
What Are the Roles of a Wealth Advisor?
Our last blog was a personal anecdote that demonstrated the act of teamwork in stressful situations. I witnessed my dogs collaborate to attack a weasel infringing on their territory. It reminded me of how employees working in a medical or dental office need to work as...
How to Start a Practice Management Accountability Program
Recently, we went over the roles of a Wealth Advisor. Our list included grow wealth, protect wealth, pass wealth to future generations, increase employee retention, coordinate with other advisors, and recommend family protection. Our poll asked "Have You Met with Your...
How to Implement an Employee Accountability Program
Our Last blog covered tips on how to start a practice management accountability program and focused on the accountability of your practice manager and yourself. Your accountability program should include setting the right goals; tracking KPIs; reviewing key KPIs...
What are the Essential Ingredients of an Employee Appraisal?
Our most recent article was about how to implement an employee accountability program. Accountability programs are important because without them, important tasks can easily be overlooked or perpetually delayed. We recommended to develop job standards, set individual...
Why Should My Reporting System Be Different From My Medical/Dental System?
Our previous article discussed the essential ingredients of an employee appraisal. In our opinion, employee reviews are over complicated with lengthy appraisals that are subjective instead of objective. In order to create an objective appraisal void of grey areas, we...
Should More Numbers be Tracked Less Frequently, or Fewer Numbers be Tracked Daily?
Just as medical and dental professionals use clinical data to make decisions about patient treatment, they should be using daily Key Performance Indicators (KPIs) to make decisions about their business. As with clinical data, it is best to track the important data...
What is Better, More or Less Patient Treatment Options?
For the sake of patient autonomy, often doctors feel inclined to give their patients a multitude of treatment options. While patients ultimately have the final say in whether they will accept their provider's recommended medical or dental treatment, a plethora of...