Your production figures provide insight into your practice’s growth patterns, marketing efforts, sales effectiveness, and clinical efficiencies. However, your collection figures provide insight into the overall health, and most importantly, sustainability of your practice as a business. Let’s examine the four specific components of cash flow and how they relate to what your practice produces. With the right policies, plus a few tips and tricks, you can control the tides of cash flow in your practice!
Identify the sources of cash flow in the practice.
Measure cash flow compared to production and related industry standards.
Improve cash flow in the practice by recognizing the workload and making small shifts in practice policies.