How much are you leaving on the table? Improving your practice's after-tax financial efficiency
from David B. Mandell, JD, MBA, and Carole Foos, CPA
Most emergency physicians strive to achieve two goals in their practice — to "do good," by being a quality practitioner and helping patients; and to "do well" in terms of financial rewards. Unfortunately, as to the second goal, many emergency physicians do not operate their practices with optimal after-tax efficiency. In fact, we often see doctors leaving tens of thousands of dollars "on the table" each year — which can equate to nearly $1 million of lost wealth over a career. The good news is that many of you reading this can likely improve your post-tax bottom line in a number of ways and this article provides doctors a number of ideas to make such improvements in 2013.
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