DecisionHealth, DecisionHealth - 2009 Issue 4 (April)

4 things to know about your practice during a recession

You need to actively monitor key performance data and respond accordingly - if you want to do more than just scrape through the economic hurricane, experts say. Most practices know when they're losing money, but there's more to running a business than just knowing when you're in the red, says Larry Gold, a practice management expert with DecisionHealth Consulting Services. "Doctors tend to make emotional decisions," Gold says. "But you need to look at the data on a weekly basis, then ask yourself dispassionately, ‘what's changed and what do I about it?'" 

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