Enterprise Profitability for the Medical Professional

I recently attended a seminar on profitability. This particular seminar concentrated on helping medical professionals fine tune their expertise with regards to the business aspect of their business.



Why is that important? Many businesses, including medical services, are started because someone is passionate about their skill or craft. They have a knack for working with people and figuring out how to fix them. So, a business is born; and with it, all the paperwork.



In my line of work, I find a lot of medical providers/businesses want to expand, but do not know how to make it happen. For example, as a sole propietor of a dental office, they do everything: see patients, deal with employees, etc. A secretary/office manager is typically in the office greeting patients, filing; but s/he does not really have any decision making authority. And if she does, she probably does it all without any internal controls.


So, how does the dentist, who works long hours with patients, step back and take an overview look at their practice.



Well, Enterprise Profitability is a great way to take a boring topic, personalize it and learn how to take the necessary steps in growing your business. The biggest take away is that profit is an illusion and does not mean anything until you get paid. In the medical services world, getting paid is difficult, given the current payer system. Nevertheless, there are strategies that can be utilized in order to optimize the revenue stream.




Laura McAdam, MSOD, CPS, CIA moderates the sessions.

Give her a call at 630-530-1171 or email: lauramcadam@comcast.net.

The next General Business Session for Enterprise Profitability is December 9, 2009. You will take away at least 3 easy steps that you can implement the following day in your business. It's that simple.