Advice for the Surgical Specialist – Decrease your overhead. Reducing overhead by a few percentage points can make a huge difference in practice profitability. For example, a practice grossing $800,000 in revenue with an overhead of 66% is spending $528,000, while the same practice with 60% overhead incurs $480,000 in expenses. This 6% difference in overhead can mean $48,000 in additional profit for your practice. Even a 3% reduction is a savings of $24,000. Overhead is a necessary part of running a practice, but eliminating unnecessary expenses can ensure the practice’s financial health.

Friday Freebie: Read Dr. Levin’s article “Break the Overhead Stranglehold” by clicking here.