What is Money Factoring?
How can your medical practice stay afloat when it takes 30, 60, even 120 days for your customers to pay? The truth is that until you’re running an established practice, it’s very difficult to maintain a positive cash flow. One way around this problem is a process called money factoring. Money factoring allows you
How to Choose a Medical Practice Lender for …
Your medical practice needs state-of-the-art equipment and a steady influx of working capital in order to stay competitive. With a wide variety of medical lending options to help you purchase equipment and maintain daily operations, it can be difficult to know how to choose the right medical practice lender. When considering how to finance the […]
Merchant services – credit cards
Working with a merchant services provider will allow your medical practice to accept credit card payments from patients, clients, vendors, and anyone else who owes you money. Credit card processing capabilities will afford your medical practice the following benefits: Process payments at lightning-fast speeds – no more waiting for paper checks to clear! Accept mobile […]
Asset Protection
Asset protection is a key area of financial planning often overlooked by many physicians. Not only do you need to protect your practice
Estate Planning
As a medical professional, estate planning is an important part of protecting your assets. But many physicians delay estate planning until it’s too late, focusing instead on investments, taxes, and other more pressing financial matters. Having an estate plan in place is not just important for after you retire; it’s key to ensuring your assets […]
How To Choose A Medical Accounting Firm
Choosing the right medical accounting firm will help your medical practice thrive, but it will also free you up to focus on providing your patients with the best care possible. A good medical accounting firm will be able to do all of the following: Provide you and your practice with monthly and annual financial statements […]
Retirement Planning
Retirement planning is different for physicians than it is for any other type of professional. Because of extended educational periods, physician’s careers tend to start later, leaving less time to save for retirement. Physicians also tend to be more health-conscious than the average person, leading to longer life expectancies. When taken together, these two factors […]
How to Find a Medical Collection Company
Finding a medical collection company is an integral part of maintaining a steady cash flow in your medical practice. Without an experienced company serving as an extension of your billing department, you will waste hours of time hounding patients or insurance companies about unpaid bills. Here is how to find a medical collection company that’s […]
Finding A Payroll Company
As a medical entrepreneur with a new practice to run, the last thing you should be worrying about is managing payroll. A medical payroll company can take this administrative task off of your plate, freeing up your time to focus on your patients and running your practice. Finding a payroll company may seem overwhelming, but […]