What We’re Reading – 5 simple ways to cut medical practice costs

The cost of operating a medical practice, especially a multispecialty group, has risen 52.6% since 2001, according to Karen Caffarini, the author of this article. With the current economic crisis, medical practices are looking for ways to cut costs without jeopardizing the care they provide to their patients.  She reminds administrators of the need to be aware of where the money is being spent, and not just focusing on one area of the practice.  In this article, the research has been done for you and the author cites five key areas to begin looking for savings.  The areas include: office supplies, office equipment, medical supplies, finance and consulting, and finally, energy costs.  Read the entire article to delve deeper into each specific area because as the saying goes, “A penny saved is a penny earned.”