One of the most common misconceptions that many therapists have is that it is okay to have many fee schedules – one for in network, one for out of network and one for cash paying patients. Here are the facts … Continue reading →
Template for Prompt Pay and/or Pre Pay Discount and Eligibility for Medical Indigence Waiver of Co-Oays
Regardless of whether you have a home/school or office based practice, having a standard intake form makes you more organized in keeping all relevant and pertinent info on a patient including allergies, emergency contacts, medical etc.
This formulized Excel spread is an easy way to start measuring your company’s potential value by determining your Adjusted EBITDA, or earnings before interest, taxes, depreciation, and amortization. You can also add both tangible assets (like equipment) and intangible assets … Continue reading →
Formularized Excel EBITDA Spread Sheet for Practice Valuation
New regulations went into effect September 23, 2013 requiring updates to the Notice of Patient Privacy Practices that you give out to patients. We have a template that includes the necessary changes – it is a downloadable, editable document so … Continue reading →
Updated HIPAA Compliance Form- Notice of Patient Privacy Practices and Rights
I received many emails and did many consults after my recent article about exploring a buy in as an option for a practice . For the full text of the article, click here. If you need help with the basic … Continue reading →
One of the most basic financial questions that practice owners need answered is how many productive sessions they have to achieve each month in order to “break even”. Being able to know or estimate your break even point is crucial both when you are in the planning stages of a private practice, and when you are actually in practice. This is a low cost, very user friendly excel formula spread sheet that is simple to use, and allows you to compare calculations based on changing data. By entering your anticipated or real average billing rate, your average fee for service pay scale, and your monthly fixed costs (projected or actual), you can determine how many sessions you have to do each month to break even. Likewise, the tool can help you determine what your budget should be for rent, utilities etc. in order to reach a “doable” break even point. The excel spread sheet has simple, easy to follow directions, and is extremely user friendly.