The following is Part II in our series – Credit Balances – Management, Opportunity & Challenges. Over the last 20 years, we have found that doctors and the front desk team consistently consider patient credits as “Oh, my gosh, there they are. If patients want them, they will ask!” End of story. What is not […]
Legally Avoid All Credit Card Processing Fees
By Ken Givens, Director of Sales, US Merchant Payment Solutions LLC Peter Freeman, the co-owner and “head jerk” at a Pharmacy and Soda Fountain shop, said credit card swipe fees are his biggest business expense after rent and payroll. He estimates he spends $15,000 a year on the 2 to 4 percent swipe fees that […]
Credit Balances – Management, Opportunities & Challenges
This is the first article in a series that will focus on how credit balances should be managed to provide growth opportunity or handle substantial challenges in your practice. Today I want to address what to do with credit balances belonging to patients that are no longer “active” for whatever the reason, e.g., death, moved, […]
Hiring an Accountant to Keep All Your Worth
By Michael L. DeVries, CFP®, CHBC, EA I received a call from a client for whom I was doing monthly accounting. At that time, our services for the client consisted of compiling monthly financial statements, filing quarterly payroll tax returns, annual company returns, and assisting him with various practice management projects. The call I received from […]
Protect Your Practice from Team Member Embezzlement and Abuse with a Fidelity Bond
Facts prove that 80% of business embezzlement, fraud and abuse happens internally by team members! The Association of Certified Fraud Examiners states that team member dishonesty can range from tens of thousands to millions of dollars. Our 20 years of investigating dental and medical practices and nonprofits across Canada and the United States have proven […]
