Unlock your financial potential with these 4 proven ways to boost cash flow instantly! In this video, Eric Miller, author of "How to Become a Financial Beast," and his guest, Nathan Shields from the Private Practice Owners Club Podcast dive into expert strategies designed to help healthcare practice owners take back CONTROL of their business finances and pave the way to financial freedom. From mastering your financial metrics to optimizing billing practices, these actionable tips will empower you to maximize the value of your business and significantly increase your bottom line.

Are you ready to take charge of your financial destiny? Learn how to improve cash flow, build personal wealth, and expand your business without seeing more patients or adding unnecessary expenses. With insights directly from Econologics Financial Advisors, this video offers the tools you need to navigate the financial challenges unique to practice owners.

Start your journey to becoming a Financial Beast today! Whether you’re a healthcare owner seeking financial freedom or simply looking to strengthen your financial foundation, these strategies will set you on the right course. Don’t forget to like, share, and subscribe for more expert financial training designed to help you achieve your goals.

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CHAPTERS:

00:00 - Intro

00:53 - Welcome Nathan Shields

02:26 - Successful Partnership Strategies

02:34 - Improving Cash Flow Techniques

14:47 - Understanding Cash Flow

15:54 - 4 Phases to Maximize Cash Flow

20:04 - Knowing Your Financial Numbers

20:50 - Key Financial Metrics

24:22 - Over the Counter Collections Strategies

27:31 - Daily Reporting Best Practices

30:32 - Credit Cards on File Management

34:25 - Managing Billing and Collections Team

35:40 - Monthly Meetings with Billing Team

38:20 - Cardinal Rules for AR Aging Percentages

42:30 - Maximizing Billing and Coding Procedures

48:08 - Training Providers for Reimbursement Rates

51:20 - Going Deep

54:33 - How to Reach Nathan

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Econologics Financial Advisors, LLC (‘EFA’) is registered with the Securities and Exchange Commission as an investment advisor. (Such registration does not imply a certain level of skill or training.) EFA provides investment advisory services only in states where it is permitted to do so under state laws and only to the extent permitted thereby. This communication is not an offer to sell or effect any transaction in securities. Neither EFA nor its affiliates provide legal, tax or accounting advice. Please consult a qualified attorney or accountant. Results are not guaranteed and will vary depending on the specific circumstances of each individual and on other factors.