Tips for medical practices to cut down on operational costs
Tips For Medical Practices To
Cut Down On Operational Costs
Tips for medical practices to save up on
• Workflow pressures, financial bottlenecks and ever
increasing rental costs and taxes, can stress out
• How do you cut costs without cutting corners?
• Here are a few ways medical practice managers can slash
down on costs and run more profitable practices.
Discuss about tax deductions…
• Discuss with your accountant about maximizing
deductions for office expenses.
• Business property, health insurance and retirement plan
contributions are a few eligible expenses you can ask
• Have a separate business credit card and check book to
maintain accurate business records.
Do you throw away fax paper?
• Buy supplies in bulk to get discounts.
• Reuse envelopes, uses the back side of unwanted faxes,
and shop online to reduce on costs.
• Join a medical buying group to get rebates.
• Instead of using an answering service one could use a
cheaper alternative like a virtual voice service.
Have a huge office?
• Rent out a portion of the office space or share it with
another medical practitioner and split costs.
• A physician from a related specialty can also increase
• Collecting copays and deductibles at the front desk can
save practices, the enormous amount of money it takes
to follow up on them.
Penny wise pound foolish!
• Shop around for credit card processing companies that
charge the lowest processing rates.
• Invest in better systems
• hire trained professionals to cut back on training costs.
• Work with money producers such as accountants and
• Focus on the money drainers, and yes remember, no
expense is too small to be overlooked.
For more details contact