Know Your Numbers with CPAs Chelsea Dorfeld & Mary Kathryn Williamson

Wealth Planning for the Modern Physician

Listen in as host David Mandell chats with two CPAs from the firm Aprio who specialize in serving medical and dental practices. They share insights on managing finances, increasing profitability, and understanding key numbers in a healthcare practice.

The discussion covers the importance of understanding financials, key performance indicators, and strategies to increase profitability in a healthcare practice. David, Chelsea and Mary Kathryn also cover the impact of staffing costs, the potential benefits of fee-for-service models, and the importance of regular financial reviews.

Key Takeaways:

1. Understanding, analyzing, and managing financial numbers are key to optimizing a medical practice's profitability.
2. Regularly evaluating and adjusting fees is crucial for practices that have control over what they charge.
3. Proactive, forward-looking advice is more beneficial than mere tax preparation.

Learn more, including additional show notes, links, and more, by visiting physicianswealthpodcast.com.