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
Setting Up a New Practice
Setting up a new medical practice is a big, exciting job! One that every private practice professional has faced. You may be feeling a bit overwhelmed when thinking about all the different areas of your business that need to be established. The most important part of setting up your new practice is planning ahead. Before […]
Your Medical Practice Opening Check-List
Opening your own medical practice can feel like an unsolvable mystery. How do you know you’re ready? What exactly do you need to get started? What about credentialing, certifications, and all of the business-related items that have to be put in place before you do? Luckily, preparing to open a medical practice is as easy […]
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
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 […]
Life Insurance
Life insurance is not just one more expense to add to the many expenses of running your own medical practice. It’s also not just a way to protect your family in the event of your passing. Instead, life insurance has recently become a financially sound way to protect your assets. In other words, life insurance […]
Determine a Practice Name
Choosing a name for your medical practice could be one of the most important business decisions you ever make. Choosing a name for your medical practice could be one of the most important business decisions you ever make. The right name can last a lifetime, establishing your business in the community and facilitating word-of-mouth recommendations. […]
How to Determine a Timeline to Open Your Medical..
So you’re ready to open your own medical practice. Congratulations! But how can you tell if you’re just ready in theory, or if you’re actually ready…
Choose the Right Corporate Structure
Do you know what type of corporate structure is best for your medical practice? From S-Corps and C-Corps to LLCs, deciding how to structure your business is no small task The right choice will provide substantial tax benefits and protect you from certain liabilities, while the wrong choice could result in higher taxes and responsibilities […]