Learn from the past

If you have a budget from last year, review it closely. Try to find out why you missed or exceeded projections. Look into the numbers. Accurate overall totals might not tell the full story.

Don’t just forget about your budget until you begin the process again next year. Track it monthly and measure your progress. Examine discrepancies to find their cause. By doing so, you’ll steadily develop a fuller understanding of your finances.

Reliably measuring revenue and expenses strengthens your ability to predict what will happen in the future. That makes it easier to plan confidently.

Have questions? I’m here to help.

Categories
Accounting and Tax Services Litigation Support Managed Care Consulting Managed Care Contract Negotiations Medical Practice and Healthcare Entity Valuation Medical Practice Assessment Medical Practice Brokerage Medical Practice Embezzlement Consulting Medical Practice Management Medical Practice Merger Advice Medical Strategic Planning Newsletter Personal Financial Planning Oversight Physician Compensation Models Physician Compliance Physician Financial Management Services Retirement Uncategorized
About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read More >

Reed Tinsley, CPA for Physicians