Tag Archives: budget

Can You Be Saving Money Running Your Medical Practice?

Running your own medical practice can be both extremely rewarding or run the risk of severe detriment to your wallet. Making the right decisions on products, leasing a building, and how operations are run is essential to the success of your business. Having your own medical practice can be all you wish it to be as long as you are intentional and conscious of the choices you are making within it. Here are a few ways you could be saving money while running the medical practice of your dreams.

Your Office

Let’s start with the foundation: your office. The way you go about opening your medical practice all starts with the type of office you choose and how you go about paying for it. Acquiring a mortgage can lead to unnecessary stress — you’re suddenly required to worry about taking care of the building on top of running your medical practice, which is a whole other job in itself. Whether you’re a dentist, pediatrician, or surgeon, your job is to focus on the patient and their problem, not the pipe leak in the basement. In this case, you may want to consider obtaining a medical office lease in Los Angeles through Boulevard Medical Properties.

Not only do we take care of the lease paperwork, but we also ensure that your office space is perfect in catering to your needs. We will go through each step of the construction process, making sure to hit all your design and decorating desires. We also offer amazing packages to our clients to improve or offer assets you may require on your lease agreement.

Securing a medical office lease in Los Angeles with Boulevard Medical Properties also helps you save money with our eco-friendly approach. We encourage all of our tenants to operate on the side of “green” and do our own part by offering eco-friendly materials, such as energy efficient lights.

In paying for these services, you can focus more on the patient, building a great reputation for the success of your company. Boulevard Medical Properties also takes your budget into account when designing your office space, keeping in mind where they can save you money and energy.

Single Use & Quality Equipment

A huge cause of hospitalization in the medical field is due to cross-contamination. To reassure the health of your patients, taking proper care of your equipment is very important. One way you can avoid cross-contamination is by using single-use products. Single-use products allow you to dispose of them after they’ve been used, therefore eliminating any possibility of it being used again by accident. It also saves you money on any repairs you may need for equipment or even cleaning equipment.

Another way to save money is by purchasing and using high-quality equipment. High-quality equipment is at a lower risk of breaking down, therefore decreasing your chances of having to pay for repairs.

Cleaning Your Equipment

In order to save on repairs or cross-contamination, providing proper cleaning treatment to your equipment each day is key. Preventative maintenance services should be regularly practiced on all equipment and cleaning tasks should be a part of daily upkeep. This also helps protect the health and safety of your patients, which should be your top priority.

Redistribution of Tasks

Paying for a company to focus on the more menial responsibilities of owning a medical practice can also save you a lot of money. Certain services, such as payroll, taxes, and marketing for your company, can be performed at a much cheaper rate than hiring a full-time employee to do the same amount of work. Starting with a medical office lease in Los Angeles could be your first step!

Whether you’re starting a medical practice of your own or have had one for some time, saving money where you can is crucial to the success of your business. At Boulevard Medical Properties, we care about helping you to do so. Give us a call at (818) 882-5700 or visit our website to start taking the proper financial steps today.

Places You Can Save Money Within Your Practice

Building your own medical practice is quite the investment. Hopefully, you’ve been able to get your plans off the ground without a hitch. Reaping the profits and benefits of your hard work can be the most satisfying feeling in the world, which is why it’s imperative that you continue to promote smart financial decisions in every aspect of your practice.

At Boulevard Medical Properties, we know better than anyone how difficult it can be to sustain smart spending without having to cut corners. From negotiating rent from your medical office space for lease, to developing a permanent and trustworthy team, there’s a lot of aspects of running a medical practice that can be heavy on your wallet.

But don’t give up hope; try these money-saving tips to see where you can best relocate your budget to prevent you from having to sacrifice anything.

1. Download the Software

One way for you to stay ahead while also saving money on hard labor is to install the latest and greatest software programs that can make running your practice a whole lot easier. Many medical facilities use different types of software to help streamline administrative tasks, hold patient records, access valuable information and even set up plans with insurance companies without you having to do any of the work.

This is a great way to save money on having to hire more outside help just to perform some menial, continuous tasks. Let the computer do it instead!

2. Outsource Your Professional Work

Having a full-time administrative staff for things such as marketing, design, professional outreach, and more can cause the corridors to become quite a bit crowded. Don’t be afraid to outsource your work to remote or freelance professionals who you can depend on.

Many professionals hire website managers or graphic designers from third-party companies to help you get everything set up without getting in the way. This will also help you to save the money from having to pay another full-time, in-house professional.

3. Hire Interns

Make sure your staffing schedules and policies are as efficient as possible. If you need to, set an overtime limit and make sure that everyone is receiving a regular late. Tell your employees that it’s okay for them to go home early. If you need to get some administrative tasks done around the office, consider hiring interns. Many of them can provide work for low rate or even free costs while in association with their schools or staffing agencies.

In the long run, this can shave quite a few dollars off your quarterly expenses. By keeping a tight schedule and helping everyone keep track of their hours, you can reduce your own stress instead of worrying about what future expenses might be thrown your way.

4. Work as a Team

When in doubt, it’s never a bad idea to ask your team members what they think. Getting multiple different insights can help you discover some money-saving ideas that you may not have thought about before. Each employee experiences their job in a different way, and they might be a lot more privy to a financial expenditure than you.

Listen to your team, bounce ideas back and forth, and see what you all come up with – the money saving tactics might surprise you!

Medical Office Space for Lease

At Boulevard Medical Properties, we specialize in helping you find the best medical office space for lease in your area. Whether you are starting out small, or you are expanding on an existing practice, we have the tools, resources, and experience to help you out where it matters most. For more financial tips, feel free to contact us online or give us a call at (818) 882-5700 today.