Get paid first – why your salary should be your business’s first monthly expense

It’s the line item most often left out of a health & wellness company’s budget: the owner’s salary. Let’s face it: you can always spend cash on your practice. From office expenses to employee salaries to rent, every month a portion of your revenue is accounted for. But paying yourself first is a must. You need to earn a living – and paying yourself can actually help your business succeed.…  Read more

Dealing With Cash Flow Problems

Below are some suggestions for unlocking funds without affecting your operational capacity. Keep in mind that you should always seek professional guidance before making changes to your business if you are unsure of the repercussions or potential issues. Hidden sources of finance Most medical and wellness business owners immediately think of the bank or loans when they’re short of money. But there are many more resources you can tap before…  Read more

Using KPIs to Monitor and Improve Business Performance for Your Medical & Wellness Practice

The key performance indicators (KPIs) for one type of practice will invariably be different from the KPIs of another firm.  What both hypothetical companies share however, is the challenge of selecting which KPIs are best suited for measuring the goals and progress of their particular business model. Indeed, medical, health and wellness practices have a vast array of reports and data sets from which to choose and select from, but…  Read more

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