Yearly Archives: 2025

[PINNED POST] How much do you know about embezzlement and internal controls? [5-MINUTE QUIZ]

How knowledgeable are you about theft inside medical practices -- and preventing it? This quiz is designed to get you thinking about how you can protect the money you've worked so hard to earn. Embezzlement always leaves practice owners feeling violated. In some cases, when the amounts are large, a practice's profitability can even be jeopardized by an embezzler. Take the quiz -- it only takes about five minutes -- and feel free to get in touch with us if you have questions about the information. We're offering a free 15-minute call to any practice owner who takes the quiz and wants to discuss any concerns it brings to the surface.  

By |2025-11-24T13:36:45-08:00November 24th, 2025|

Holiday savings (33% off) on “People, Technology, Profit”

Planning on some holiday reading? Looking forward to making improvements to your practice in 2026? Take advantage of a rare holiday sale on Laurie's popular book, People, Technology, Profit: Practical Ideas for a Happier, Healthier Practice Business. It's 33% off the regular price! Just follow this link:   People, Technology, Profit: Practical Ideas for a .... Morgan, Laurie and Capko, Judy Buy Now Or use this QR code:

By |2025-11-18T13:19:05-08:00November 18th, 2025|

Holiday special book pricing — 25% off — treat your favorite job-seeker!

For a limited time, Job Hunting for Physicians is 25% off when you order direct from Ingram (Lightning Source). Regularly $19.99, it's just $14.99 through year end. Treat your favorite resident, fellow, or any other job-seeking physician. Just follow this link:   Job Hunting for Physicians Morgan, Laurie Buy Now Or use this QR code:

By |2025-11-18T13:08:16-08:00November 18th, 2025|

Fix little productivity drains for big gains

It wouldn't surprise you if I told you that, in my work as a practice management consultant, I often recommend big workflow changes. After all, it's my job to embolden my clients to take those big steps to improve their practice operations that they might have been anxiously avoiding. (You know, things like major technology upgrades or job reconfigurations.) It might surprise you to know, though, that I'm just as likely (maybe even more so) to urge my clients to look at the little irritations in their offices. That's because even though those aggravations feel small, their impact on productivity adds up. Practically every office has these kinds of pesky aggravations or tasks that never rise to the top of the list. They can pile up because people feel they're just too busy to deal with them, or, in some cases, they feel guilty about "indulging" in fixes that make things a little easier when practice management culture is often focused on frugality. The problem with that thinking is that addressing these persistent annoyances can actually have a big, recurring payoff. In the moment, your instinct might be to just tough it out and keep working around these types of annoyances (and ask staff to do the same). But it usually makes more sense to invest the time (and maybe some money) to fix them, even if you feel you're short on both. Here are a few examples that come up a lot: Cumbersome practice management reports: How much time do you spend every month running multiple reports, exporting to Excel (or, heaven forbid, keying the results into Excel), and then putting the data together in another workbook to get the stats and charts you actually wanted? It's likely your practice management system vendor could eliminate a lot of this rigmarole with a custom report. It might cost a few hundred dollars, but that would be a one-time cost. And that cost would be repaid again and again in hours you'll now have for other, more valuable tasks (like, say, thoroughly analyzing the reports and acting on them); Equipment that

By |2025-06-26T09:32:04-08:00June 26th, 2025|

Blind spots, and what to do about them

I read a little anecdote about Jeff Bezos today that made me smile. It's a self-deprecatingly humorous memory from the startup days of Amazon, and it contains a lesson so important that Bezos remembered it more than five years later. I won't spoil it for you, because it's a fun read. And it's super short. Click here to read it. What I love about the story is how perfectly it illustrates that all of us—no matter how smart, experienced, or motivated—have blind spots. We can be especially susceptible to them when we're deep in the weeds of work, or when we perceive our work has high stakes attached. These situations can keep us wedded to work assumptions that no longer serve us. What I most love about the story, though, is that Bezos was open to having his assumptions upended by an employee. He must have been humble enough in that moment that his employee felt comfortable speaking up. And Bezos had the good humor and smarts to see immediately that the employee's idea was way better than his own. In any business, employees are often an underutilized source of creative solutions. They're closer to processes and problems. Listening to them is a big part of a consultant's work—but physician practice owners and practice managers can do it, too. (And it won't cost a penny!)    

By |2025-05-02T12:07:59-08:00May 2nd, 2025|

Preparing to sell your practice (Tip #4: What’s the worst time to sell your practice?)

Over my years working with physician owners and practice administrators, I've learned that timing makes a big difference when selling a practice. Simply put, when you decide to sell can make a big difference in how much you'll sell it for. Are you thinking I'm referring to the economy? Market trends in your field? Or the current direction the political winds are blowing? External factors like those could impact your ability to get the best price for your practice. If you're just not ready to sell when private equity roars through your specialty market, well, that can leave you feeling like you missed the one great opportunity to cash out. Or if a recession hits, maybe you'll worry that prospective buyers will prefer to hunker down until the economy turns around. But these are factors beyond your control. The timing issue I'm talking about is something you have more control over—and it's a pitfall I've seen physician owners make in both highly favorable and unfavorable markets. The bad timing I'm talking about here is when a practice owner feels pressure to sell immediately. If you're tied to a looming deadline or otherwise desperate to sell fast, that urgency will likely result in a much lower price than you would otherwise have attracted. And, in my experience, this desperation can usually be avoided. Here are a few examples from my experience. Solo practice down the street An allergist client of mine called me about making an offer on a longstanding solo practice that had suddenly come on the market. The practice for sale was located just a few minutes down the road from my client's satellite office, so my client thought this could be a fast, easy way to expand that location. He was worried, though, that the price suggested the seller's view of his practice's value was inflated. Despite this concern, my client thought he should move fast to pull together some kind of offer. Apparently, other parties were interested—at least according to the seller. But in telling me all this, my client left out the most important part: the

By |2025-04-22T12:56:45-08:00April 22nd, 2025|

Preparing to sell your practice (Tip #3: Cards close to the vest)

If you're considering selling your medical practice, you may wish to talk over the process with someone. That's a good idea—as long as that person is not an employee of your practice. It may seem like you should give key employees (especially your most loyal, trusted ones) some kind of heads up that this big change could be coming. But making them aware of this possible disruption to their lives is unlikely to be helpful to them. In fact, it could have just the opposite effect. Let's just say that your office manager has been with you for a decade and has been instrumental in growing your practice. And let's also say that an investment group has approached you about the prospect of buying the practice. The initial terms look appealing. You like the buyers. A sale could really be happening! So why shouldn't you tell your office manager that something's in the works? Wouldn't that be better, and fairer, than unpleasantly surprising her later? Here are a few reasons why the answer is probably "no." 1) First and foremost: it's more stressful for the employee than you might realize. If your primary motivation for sharing this private information with a key/long-term employee is because you feel uncomfortable withholding information from them (perhaps even feel guilty about keeping secrets), consider this side of the issue before moving forward. When highly consequential, confidential information like this is shared with an employee, it puts an incredible burden on their shoulders. You'll need to ask them to keep it a secret from other employees, which may require them to be more reserved than they normally would be if anyone asks them a question about a potential sale. They'll feel pressure to "act" all the time. And all the while this trusted employee is pressured to protect your confidentiality, they'll also be burdened with stressful questions of their own about what the sale would mean for their future—questions you will not be able to answer. What's more, the process of selling your practice will take months. It could even take a year or more.

By |2025-03-30T11:52:21-08:00March 30th, 2025|

Closing (or not closing) your practice for inclement weather

Whether or not you should close your practice when winter weather gets extreme is one of those questions that every practice must figure out on their own. I've heard close/not close policy explanations from practice clients of all stripes that range from "when the roads are bad we'll always err on the side of safety, not just for our employees but our patients, too" to "if McDonald's is open and serving people coffee, why can't we be there to help our patients?" Guiding principles are useful, but there likely are considerations beyond the philosophical when it comes to closing up shop for a snow day. Local attitudes toward snowy conditions may matter. In New England, where I'm from, it takes a lot of snow and ice to keep people off the roads. But in southern states, the prevailing attitude is probably more cautious. If you're in a place where people are less comfortable driving in snow and ice, should you keep the office open? (Is it worth it to go the extra mile and keep your doors open for patients when you're not sure your patients will even show up?) Your specialty likely matters a lot, too. A patient with asthma and the flu (or the parent of said patient) may be desperate to keep their pediatric appointment, even if it means driving behind the snowplow. On the other hand, patients booked for a monthly mid-pregnancy check or regular visit with their endocrinologist might be happy to reschedule to avoid messy roads. The bottom line is you'll need to consider a lot of factors when deciding whether or not to close your doors. There's no automatic right or wrong answer. Do keep in mind, though, that the decision may be bigger than it seems. Above all, closing up shop for weather is something you should plan ahead for, so that if the need to close arises, the process will be efficient and you'll minimize the impact on the business and your patients. Know your potential revenue loss--and how you'll offset it A costly mistake practices sometimes make is underestimating the

By |2025-04-22T12:59:59-08:00February 25th, 2025|

New webinar: 7 Easy Ways to Increase Revenue

I'm excited to announce I've got a new free webinar coming up! This one's sponsored by Solutionreach. The subject is "7 Easy Ways to Collect More Revenue." The tips are (mostly) very easy! They're applicable to most specialties, too. I think Sign up here for the March 6 presentation (or to get a link to the recording afterward).  

By |2025-03-11T11:02:03-08:00February 25th, 2025|

“If it ain’t broke,” maybe you still should fix it

This meme popped up on one of my feeds recently, and whenever it does, it makes me smile (and think). It's a picture of a horse tied to a lightweight plastic chair. The horse is standing patiently and obediently, presumably unaware that he could easily shake off the chair, break it, or drag it along and run away if he chose to. The caption is always some variation of, "The thing holding you back might be all in your head." Time to break free? It's an idea always worth exploring in my opinion. Whenever working on an intractable problem, I always seem to find that testing some assumption or another can lead to a solution. It's natural for business owners and managers to rely on assumptions. No one has time to rethink every workflow or financial policy or technology strategy every day (obviously). That's one reason why unhelpful or outdated assumptions can be hard to spot. It's a challenge that affects everyone, but perhaps especially very busy people who shoulder a lot of responsibility. What's more, "if it ain't broke, don't fix it" or "that battle's not worth fighting" or "we tried that once and it didn't work"–some of the most common assumptions we make to help us keep things moving along—can be very useful maxims that help keep the to-do list manageable and avoid wasting energy. Even well-founded assumptions can outlive their usefulness as times change, though. And when they do, the same guideposts that once were so helpful can undermine progress. Part of my job as a consultant is to help practices identify and question their assumptions, to be sure they're still helpful. A mini case study I saw this play out recently with a practice that wanted to add clinicians but lacked office space, especially at the front desk. As a result of earlier expansion of the provider team, the front desk was already understaffed by at least fifty percent. ("We can't fix that. There's nowhere to put anyone else.") Despite this obvious constraint, the owners had an opportunity to hire two clinicians they really

By |2025-02-02T14:34:22-08:00February 2nd, 2025|
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