Your practice, like any business, spends money to make money. But how and where you do so involves numerous tactical decisions that can easily slip your notice. Even if you work with a bookkeeper and an accountant, periodically checking your financials will give you a better sense of how your practice is spending its money.

Patient payments are the lifeblood of your practice, and they can be a challenge to collect. Whether it’s the copayment, the deductible or the insurance payments, breakdowns often crop up in the payment process. The good news is most practices can improve their payment processes. Here’s how.

Thinking about retirement is no longer a future event for many Americans; most of us recognize the need for careful planning throughout our working years. This planning often entails saving and investing with the goals of meeting cash flow needs in retirement, preserving capital and managing risk. This podcast reviews the threats you're up against.

Knowing what your practice is worth is an essential resource for estate planning and making business decisions. And when you start to think about selling your practice, having regular valuations that you’ve updated over the years will give a prospective buyer that much more confidence that you’re asking a fair price. This podcast reviews the three practice-valuation methods.

When you join a new practice, your function may seem self-evident. You’re coming on board to see patients and share the caseload. But do you really know what’s expected of you? Every practice is different, and the fewer surprises you encounter, the greater your chances of finding a happy fit. This podcast shares strategies to help facilitate a smooth transition.

However solid and secure they seem, paper checks in fact contain enough coded information for a motivated thief to find a way into your bank account and start pilfering. Online banking transactions are safer, faster and more efficient. The following podcast explains how online banking can benefit your practice.

Since the financial crisis, though, banks are increasing their diligence and vigilance in underwriting loans. This means that even small practices may need to step up their financial reporting and oversight. The following podcast may help point you toward an approval.

If the word “taxes” immediately calls to mind April, fast-forward your calendar by a few months and take a closer look at your tax picture before the end of the year. This podcast offers ways to get your finances in shape ahead of the deadline.

In the first podcast of this two-part series, we'll provide information about maximizing your purchasing power and mitigating your risks when you buy an existing practice.

In the second podcast in this two-part series, we'll provide information about finding the value of your practice and planning to sell before the sale is imminent.