03/27/2018    

PRACTICE MANAGEMENT TIP OF THE DAY

Areas of Financial Waste to Cut at Your Practice - Part 1

 

Here are a few ways to reduce financial waste, according to practice management and accounting professionals from across the country:

 

1. Cut Back on Supplies

 

"Most medical offices tend to order supplies in huge, unnecessary quantities; anything and everything from printer paper to syringes. It happens because of a lack of communication. The doctor or office manager tells an employee to stock something...[and] tells another person to stock the same things. I can't tell you how many times I've seen double orders. You need a system of checks and balances and have a supplies checklist." Thomas Moore, CEO of healthcare management firm The Caduceus Group, Atlanta, GA

 

Source: Bob Sandrick, Physicians Practice [3/19/18]