Practice Management

2013 NSCHBC Practice Statistics Report - How Do You Compare?

The National Society of Certified Healthcare Business Consultants (NSCHBC) (for which our firm is a long standing member) has produced their annual Practice Statistics Report (2013).  This statistics report contains practice data from 2,492 professional practices representing 5,252 FTE doctors.  The aggregate data is reported on 60 dental and medical specialties.

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Characteristics of a Financially Successful Practice

In a recently published survey, it was revealed that many practices do not utilize budgeting and other processes that would make them more financially stable or successful.

Most practices do not have a CFO and shouldn’t think about hiring one to begin with, given that most practices are smaller entities and cannot afford a six-figure salary for this type of position.  So if you shouldn’t hire a CFO what are you to do?  Unfortunately, most practices do not have a plan, let alone a financial plan. 

Read more: Characteristics of a Financially Successful Practice