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
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
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
What Physicians Need to Know About the inflation Tax Act of 2022
First and foremost, the Inflation Tax Act is unlikely to negatively impact private practices. However, there is a high probability it will impact doctors working in hospitals. The reason for this is due to the corporate minimum tax in the new bill. Previously, corporate giants (like Amazon) did not
6 Things To Keep In Mind For Your Healthcare Accounting
Practicing medicine is complicated, but you can at least hone in and focus on the task at hand. When you start your own practice though, the business, payroll, customer care, etc. can quickly override everything else. For a better understanding what the healthcare accounting process is and how it