Cutting costs of staff fringe benefits, but not to the quick

Although you want to remain competitive about benefits, cost-conscious medical practices have begun evaluating health insurance premiums, retirement plan contributions, and staff education outlays more closely than ever. If you haven't taken a hard look at these overhead items, now it the time, because significant savings may be in the offing.

But don't change programs casually. It's more important to hire and hold good employees who serve your patients well. If you do trim any perks, communicate effectively with the affected staffers so cost-cutting won't cost you more than you save.

Have questions? I’m here to help.

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Reed Tinsley, CPA for Physicians