When it comes to managing the financial aspects of your medical practice, partnering with a CPA who specializes in the medical profession can be a game-changer. This would ideally be someone who only possesses a strong financial background but also in-depth knowledge of the specific challenges faced by medical practitioners.  In this article, we’ll explore:…

Medical practices, like any other business, need proper accounting practices in place in order to be successful and thrive over the long term.  In fact, not doing your due diligence when it comes to your accounting can cause your practice to fail financially. Taking the time to optimize your practice’s accounting leads to: In this…

As a business owner, it’s important to understand the accounting essentials that will help you get a handle on your business finances. Accounting, while it may not be your favorite thing in your practice to do, provides insight into how well your business is running and helps you make informed decisions. You have a lot…

The budget for your mental health practice is an essential aspect of your business and at the beginning of each year, you make a plan for your money and your business by creating a budget. But it can be challenging to know where to start when it comes to evaluating and analyzing your budget.  It’s…

With the growing demand for mental health services, it is increasingly important that you have a strategy to create and reach goals in your mental health practice.  Goals are targets the company plans to achieve in a specific period and gives the business direction for its path to success. Therefore, goal setting is essential for…

Financial reports are an essential part of running a business and part of the foundation for financial success. They are also a great source of information for measuring your success and adjusting your strategy. But what core financial reports do you need for your mental health practice, and why do they matter? Financial statements or…