Waiting for payment run


Most if not almost all businesses have cashflow problems. Those with shareholders can ask for more money from shareholders. Unfortunately for your med or dental practices who are not always paid at time of service ie you wait for payment run and secondly, the one shareholder who is you the doctor has to fund the practice every month whilst waiting for payment runs. This has been the case for me for the past 30 years except in cases where I have subcontracted with other Health industry. You are forced to pay operation costs eg salaries being it dr salary or staff and other service providers late. This is not a sustainable way of running a business and for sure not great for cashflow

Reliance on med aids for payments is not a sustainable option for your practice. One probale needs a hybrid model eg one practice which is cash only and rest med aids

If we were paid at point of service, you would know how much one gets per day. Budgetting would be much easier. The worst is the very med aids sometimes cost you money as they need preauthorization via a phone call, if is email it costs you data

Would like solutions around these


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