Boosting my cash flow

Consultant cardiologist Dr Dinos Missouris describes how outsourcing helped him to ensure that his growing practice was in good financial health.

A lot of my time and energy since starting in private practice in 2001 has been focused on growing my private practice and developing my reputation. 

As my practice grew, the increased workflow put more and more demands on me and required me to take on a medical secretary to help with practice administration. 

More recently, I started to feel that, despite working hard with a busy practice, my cash flow was not mirroring the work I was doing.

When I started to review the finances of the practice, I found two main problems: I was not getting the visibility that I wanted on my aged debt and the information when provided was not always accurate or up to date.

I discussed this with my personal assistant (PA) and it became clear that one of the issues was the demands of the modern patient.