by Nathan Hayes | Jul 20, 2024 | Uncategorized
Bills happen. It would be nice to have fewer bills, but they’re an ongoing reality and they need to be. Historically, paying bills meant mailing a check back with the statement you received in the mail. For many owners, writing checks to pay bills...
by Nathan Hayes | Jul 13, 2024 | Uncategorized
One of the scariest and most important risks practice owners face is taking on fixed expenses ahead of growth. The best way to think about fixed expenses is that they are the bills you pay regardless of how many patients you see or how much revenue comes into your...
by Nathan Hayes | Jun 15, 2024 | Uncategorized
I have seen a few cases lately where Books & Benchmarks clients tried to handle tight cash flow by using multiple checking accounts to budget for expenses. But does this strategy actually work? This week, let’s discuss some causes of tight cash flow, the...
by Nathan Hayes | Jun 8, 2024 | Uncategorized
After focusing on bonuses for non-OD staff for two weeks (read Part 1 and Part 2 to learn more), let’s switch gears and talk about bonuses for ODs. We noted previously that we’re skeptical of the impact bonuses have on non-OD staff performance. When it comes to...
by Nathan Hayes | May 18, 2024 | Uncategorized
Last week, we discussed the limits of using bonuses to motivate staff and influence their behavior. (Read the Bonuses Part 1 blog to learn more.) In many cases, clear goals and KPIs are all a practice needs to shape behavior, assuming the team is making an appropriate...
