Your weekly dose of wisdom from the Physicians Practice experts.
With all the useful information available on Physicians Practice, it is easy to become overwhelmed.
With this in mind, the tip of the week is a chance to reflect on some of the wisdom found all across the site. In this May 2021 article on effectively managing medical practice staff, Carol Stryker, gives this tip:
Management by systems
Management by systems is a way to leverage time and attention.Spreadsheets and EHRs are often used but there is no requirement that the systems be computerized. The systems have three primary purposes: avoid, detect, and warn of problems.
An avoidance system can be very low-tech. An example is having the person responsible for taking the mail or bank deposit leave her car keys in a special place where it is impossible for her to leave the office without being reminded of the task.
A common detection system requires the initials of the person completing a form. If information is omitted, it is immediately clear who is responsible. (An added benefit is that people are much more careful when they must sign their work.)
Warning systems typically report symptoms to be investigated as potential problems. One useful warning system is the pattern of staff absences. (I once had a secretary who was only sick on Mondays.)Others relate to trends in office supply costs, equipment repair costs, patient scheduling, and productivity measures. The idea is to avoid looking over shoulders and appearing to be distrustful: It is demoralizing for staff and a waste of the physician's time. The necessary information appears essentially automatically as needed, and supports corrective action.
Click here to read the rest of the article and be sure to check back next week for another Tip of the Week!
Asset Protection and Financial Planning
December 6th 2021Asset protection attorney and regular Physicians Practice contributor Ike Devji and Anthony Williams, an investment advisor representative and the founder and president of Mosaic Financial Associates, discuss the impact of COVID-19 on high-earner assets and financial planning, impending tax changes, common asset protection and wealth preservation mistakes high earners make, and more.