Focusing on overhead can cost practices revenue, compensation
To cut costs, one physician fires his office manager and hires his untrained spouse. Another denies health coverage to employees and wonders why she is unable to fill positions. Yet a third spends more time finding ways to allocate overhead to a new partner than seeing patients. When it comes to reducing overhead, all three of these are common mistakes that Randy Bauman, a physician practice consultant with Delta Healthcare in Brentwood, TN, has grown accustomed to seeing during his interactions with physician practices.
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