Poor practice data will cost you a lot

Are your financial records really up to date? Simon Brignall warns that many consultants need to check to ensure the paperwork meets your current needs.

Consultants must wear many hats these days to run a successful modern private practice. 

Managing the various aspects can prove to be ever more challenging and I often find they have difficulty in ensuring all their financial and pricing records are current.

As director of business development at Medical Billing and Collection, I have seen many practices experience a wide variety of difficulties in these areas. 

And that can lead to: 

 Issues around cash flow;

 Losses of income; 

 Problems with the taxman. 

Let’s take a look at some of the most common issues: