As a new doctor, you're starting a new chapter in your career and your life. If you're recently done with school, then it's likely you're earning a decent salary for the first time, and this is a great opportunity to get your finances on solid footing and start saving for your future.Here are a
$200M Deficit & Seattle’s Stabilization Efforts
Seattle's Revenue and Forecast Council (RFC) released a report in November 2022 that projected a $141 million shortfall in the city's 2023-2024 budget. The RFC also projected that the city would face an additional $82.3 million shortfall in the following two years, bringing the total budget hole to
Common Mistakes Running A Medical Practice
When establishing a medical practice, accounting may not initially rank as a top priority. Nevertheless, maintaining proper accounting practices is crucial for the sustained success of your practice.Here are some recommendations and optimal approaches for managing the accounting aspects of
The Challenges of Running a Medical Practice in Seattle
Seattle is a great place to live and work, but it can be a challenging place to run a medical practice. The cost of living is high, and the competition for patients is fierce. In addition, medical practices in Seattle are facing a number of financial challenges, including:These challenges can
The Seattle City Council’s Spending Problem
The Seattle City Council has been in a spending spiral for years. From 2012 to 2019, the General Fund budget (which funds basic city services such as police, fire, and human services) increased by 52%. City employees (not including utility and transportation workers) increased by 26%.The council
CPAs and MIAs: A Powerful Team for Managing Your Medical Expenses
Medical Insurance Advocates (MIAs) can help individuals with a variety of accounting tasks related to their medical expenses. This includes:CPAs can also play a role in helping individuals with their medical expenses. CPAs can:By working together, MIAs and CPAs can help individuals save
Finding the Right CPA & the Ethics of Medicine as a Business
As a small medical practice, you are faced with many ethical dilemmas when it comes to the cost of providing care. On the one hand, you want to provide the best possible care for your patients, regardless of their ability to pay. On the other hand, you need to make enough money to keep your practice
How to Use Data to Improve Cash Flow for Your Medical Practice
Cash flow and collections are essential for the success of any medical practice. However, many small medical practices don't realize they have valuable data at their disposal that can be used to improve these processes.By understanding your data, you can gain insights into your patients, your