For over 30 years, PMRG has helped and guided ophthalmologists navigate the sometimes difficult waters of running a physician owned medical practice. Over those years, we have written and published many articles in support of that work. This library of offerings is updated and added to regularly and is here as a resource to assist you in the operations and management of your practice.
Please come back often and don’t hesitate to let us know if there is something you would like us to write on that is not listed here!
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The Myth That Physicians Are Not Trained In Business
In our practice management consultantancy, I am always being told by physicians (and non-physicians) that physicians aren’t educated on the business of medicine. By the manner in which that statement…
What Does It Cost Your Practice to Run Its Personnel Department?
Personnel costs may represent as much as 2530% of overhead in a medical practice. Often included in that financial responsibility are such tasks as Payroll management Employee benefit design and…
Computer Selection – Part One
Are you dreading going through a computer installation in your practice? Complying with HIPAA regulations, phasing out an obsolete system, and making functional upgrades to keep pace with your business…
End of Year Opportunities
It’s the end of the year and time to review every aspect of the business of your practice in order to plan for the upcoming year. Fiscal Year-End We recommend…
Incentive Compensation for Optometrists and Opticians
Many ophthalmology practices use optometrists and opticians to expand the practices’ productivity, income, and profitability. Your ability to obtain and retain the services of these professionals, as well as to…
Financing Eyecare Services
Many ophthalmology practices find themselves functioning as a finance company for patients’ unpaid balances and co-payments. Carrying some of these balances for certain managed care plans may be inevitable, but…
Outsourcing in Opthalmology Practices
Certain functions obviously require expertise beyond the capabilities of the ophthalmologist and the practice staff, such as accounting, legal, and equipment maintenance services. But what about other services, such as…
Medical Equipment Acquisition
What is the best way to acquire capital equipment? Purchase with cash? Finance purchase? Lease? Although this newsletter provides solid guidelines to help you evaluate purchase choices, it is not…
Staff Salary Incentive Formulas and Bonuses: The Bottom Line for the Practice
The following are measurable practice revenue sources that staff can dramatically impact to make or break the bottom line. Number of appointment slots filled Number of patients seen No-show rate…