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The Medical Coding Company That Could

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The Medical Coding Company That Could

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Must-Have Medical Doctors Insurance

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What is Money Factoring?

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Insurance Types Needed for a Medical Practice

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How to Find a Medical Collection Company

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Types of Commercial Loans for Buying a Medical Real Estsate

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Medical Billing Company to the Rescue!

Unlocking the Mysteries of Medical Billing

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Group Practice vs Hospital

Build Or Buy: In-House Medical Coding Vs. Outsourcing

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How to Prepare a Cash Flow Analysis

It’s been said that cash is king, and that couldn’t be more true than when it comes to running a medical practice.

An accurate cash flow analysis will help you determine how much inflow, or cash, is needed to balance your outflow, or the expenses of running your practice.

A cash flow analysis looks at three distinct areas of your business.

The first step in completing this analysis is to estimate the cost of your operating activities. This number will include the income you receive from patients and insurance companies, as well as daily operational expenses like staff salaries, rent, and insurance.

The net figure you arrive at after looking at inflow and outflow gives a strong indication of the overall operational cost of running your practice.

Next, consider large, one-time purchases like medical equipment and property. These are considered investments. The purchase of larger, expensive items is calculated into your outflow, while the eventual sale of such items counts as inflow.

Finally, consider financial transactions like loans and loan payments. Loan monies you receive are part of your business’s inflow, while loan payments made are considered outflow.

Your goal in creating a positive cash flow is to balance your inflow and outflow, taking care that you’re never spending more than you’re making.

To learn more about doctor credentialing, insurance, coding, outsourcing, and everything you need to establish a successful healthcare practice, follow all of Sherlock Doc’s adventures on the DoctorsBusinessNetwork.com or Doctors Business Channel on YouTube!.

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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

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