Financial Management of the Medical Practice 3E (ePub)

Every business needs fiscal stability to survive, and the medical practice is no exception-particularly in today's challenging health care environment. It is vital to understand the guidelines and strategies that can help monitor the financial performance of your practice. Financial Management of the Medical Practice, third edition helps build a sound fiscal foundation for the medical practice. An invaluable tool designed for successful financial management and planning in the medical practice, Financial Management simplifies the financial planning process while establishing a foundation for making informed decisions in developing and maintaining financial systems to ensure a profitable practice. Organized in two sections, the first part provides practical and operational guidelines including controlling expenses, establishing internal controls and safeguards to avoid fraud, and developing and maintaining a budget. Section two focuses on strategic aspects of financial management, such as alignment strategies, merging practices, capitalization, compensation and ancillary services. Financial Management of the Medical Practice applies best practices, identifies current trends, and examines savvy processes that will enable you to gain greater control of your practice's financial performance even in the midst of health care reform and economic downturn. Additionally, this book is a valuable educational resource as you determine the most appropriate models and methods to be financially profitable.