Why are income packages often smaller in expensive areas?
Though compensation averages are commonly available, physician income does vary by region. Perversely, income packages often are smallest in expensive areas.
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Why is it important to investigate pharmaceutical manufacturers pricing increases and implement fee schedule revisions?
To ensure maximum profits are realized. Drug costs as a percentage of drug revenue can range from 40% to 50%, depending on the volume.
Why is an AR of 30 days better than one of 90 days?
The older the AR, greater than 90 days, the less likely the dollars will ever be collected.
Why are daily audits necessary?
To capture missed/lost charges.
Conducting an Effective Search
How do you find the ideal practice position? How do you identify the opportunities that are a good fit with your skills and personal goals?
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The Value of a Practice
Throughout this course, you’ll be introduced to the terms, concepts and methodologies used to generate a financial valuation of a medical practice. You should complete this course with a better understanding of why it is important to accurately value a practice and the steps you’ll need to take to generate a solid practice valuation.
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Operations
Introduction
In order to effectively evaluate a practice, the operational structure and daily operations of the office must be understood.
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