See What This Free Medical Practice App
Can Do For You
Before Private Practice
Specialty Selection choice
This report was meant to give students and residents a general idea of what specialties are most applicable to their preferences of both income and personality. We started out with income preferences and narrowed down from there.
During Private Practice
Pro forma budget
This report generates a working annual pro forma budget. This is helpful for you to determine what your annual net practice income will be based upon projected monthly income and projected monthly expenses. A line item for the most common expenses is generated to help guide you to consider all the expenses you should consider in determining your budget.
This report takes into consideration your practice’s cash flow for the first six months. It extrapolates what your 18 month cash flow would be if level. It then reveals what line of credit you will need to keep you from a negative cash flow for the first eighteen months of your practice.
Lease or buy
This report will help you decide whether to lease or purchase your next piece of equipment. The report will show you total cost of each scenario so you can see what makes most sense.
Benchmarks: Practice Scorecard
Use this report to compare your front office functions or billing service effectiveness against known benchmarks.
This report will help you find the lifetime value of your patient and cost of acquiring that patient so that you can determine if any advertising campaign is worthwhile. For an advertising campaign to be worthwhile, the cost of acquiring the customer in that campaign should be less than the customer’s lifetime value.
After Private Practice
Experienced doctors that might want to sell their practice or consider alternative business opportunities..
Valuation of a practice
This report will provide you with two different ways to value your practice. One, based upon income (or return on investment), for the purchaser. The other is based purely upon Asset values. You will see the value in each scenario.
Use this report to see if you have what it takes to be an entrepreneur. Match your personality traits against known traits of entrepreneurs.
The Medical Entrepreneur Book and Symposium