Subsequent Top 5 most-popular chiropractic finance articles throughout the year included …
Debt collection and strategies to reduce taxes for high-income earners topped the most-popular chiropractic finance articles of 2022 on the Chiropractic Economics website and social media platforms.
“Ask, ‘What is unique about your agency?'” wrote Lyle Solomon on choosing a debt collection agency to work with. “The debt collection agencies mainly offer similar services. However, one thing that makes them unique is if they have an attorney to make the collection efforts. Another thing is if they provide genuine 24/7 support. They may say that they provide such support but may not have the infrastructure.”
Subsequent Top 5 most-popular chiropractic finance articles throughout the year included the subjects of cash growth levers, qualifying for tax-free student loan forgiveness, and managing multidisciplinary health care finances.
Here are the Top 5 most-popular chiropractic finance articles from the Chiropractic Economics website in 2022:
5. Chiropractic practices and managing multidisciplinary health care finances
BY MARK SANNA, DC, ACRB LEVEL II, FICC
Multidisciplinary practice owners should hold regular meetings with their accountant to scrutinize the invoicing and payments that flow to the MSO from the PC. This should include a review of the fair market value of the business services being provided by the MSO. There should also be a regular review of the medical decision-making process and oversight of the providers in the PC regarding multidisciplinary health care finances. Improper practices in this type of arrangement can have serious consequences, including discipline by licensing boards, significant fines and other forms of punishment.
4. Webinar: Chiropractors Can Qualify For Tax-Free Student Loan Forgiveness
BY IAN HOFFMAN, DC
Shortly after starting the nonprofit, Dr. Hoffman discovered the Public Service Loan Forgiveness (PSLF) program which will erase student debt tax-free in less than half the time of the Income Driven Repayment plans. Ian was able to qualify for PSLF and the Student Loan Eraser program was born.
3. 5 cash growth levers for your practice to hedge against tough times
BY NAOTA HASHIMOTO, DC
Years ago, a business mentor diagnosed me with “Shiny Object Syndrome” because we had so many services that weren’t complimentary, and I found that 80% of my problems came from 20% of our revenue. For example, we dabbled in aesthetic procedures, clinical trials, and other unrelated items to our pain-relief services.
2. Chiropractic and how to reduce taxes for high income earners
BY CHRISTINA DEBUSK
“Financially speaking, developing a solid financial plan as early as possible in one’s career as a chiropractor is the key to long-term financial success,” says Michael Larson, senior wealth advisor at Spectrum Wealth Management in Indianapolis, Ind. “The establishment of a sound budget (and sticking to it) in order to reduce debt, putting money aside for investment purposes, and effectively managing your risk are of the utmost importance.”
1. Chiropractic debt collection — what to look for in an agency
BY LYLE SOLOMON, JD
Research and look for someone who has experience in chiropractic debt collection. Experienced collection agencies maintain goodwill between you and your client or patient … The chiropractic debt collection agency should have the required certificates. For example, an authentic certification from ACA International-The Association for Credit and Collection Professionals.
For more articles on chiropractic finances go to chiroeco.com/?s=finance.