Category: Accounting
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How Does Mental Health Billing Work?
Billing for mental health services isn’t just another administrative task; it’s a critical part of keeping your practice afloat. Between the specific billing codes, insurance headaches, and constant updates, getting it wrong can mean delayed payments or worse — denied claims. But with a solid understanding and a few best practices, you can navigate the…
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Why Is Accounting Important in Businesses?
Accounting is more than just a numbers game; it’s the very framework that supports every successful business. From guiding financial planning to ensuring regulatory compliance, the accounting function is the backbone that keeps businesses stable and thriving. Let’s dive into why accounting is essential and how it influences every aspect of a company’s operations. The…
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Financial Fundamentals: Build a Foundation for Success
Business owners understand that a solid grasp of financial fundamentals is non-negotiable. Without it, even the best-laid plans can crumble, leaving your goals out of reach and your long-term wealth in jeopardy. But with the right financial foundation, you can organize, manage, and scale your business effectively. Here’s how to establish those all-important fundamentals. Get…
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Budgeting and Financials in Your Mental Health Practice
Managing the finances of a mental health practice isn’t just about keeping the lights on; it’s about ensuring that both practitioners and patients can thrive. A budget is a fundamental tool for any business. It gives every dollar you earn a purpose and serves as a guide for spending. From the essentials like payroll and…
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How to Do Pricing in Your Mental Health Practice
Running a mental health practice isn’t just about helping clients navigate their emotional and psychological hurdles; it’s also about ensuring your practice thrives financially. Effective pricing strategies can make the difference between a sustainable practice and one that struggles to stay afloat. Let’s explore how you can set the right prices for your mental health…
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Using a Talent Gap Analysis to Address Employee Issues
In today’s dynamic business environment, accounting firms must continually adapt to changing market trends and evolving client needs. To maintain a competitive edge, it’s crucial to ensure that your workforce possesses the right skills and competencies. One effective way to achieve this is through a talent gap analysis. This strategic approach helps identify skill gaps…