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Revisit your income/expense distribution formula

Your income/expense distribution formula both reflects and defines your practice's culture, says Timothy Boden, CMPE, practice administrator for Northwest Mississippi Kidney Center. Physicians sometimes allege flaws or unfairness in formulas, but Boden suggests that some dissatisfaction relates to physicians not understanding your income-distribution formula. Solve this by making sure that everyone understands the formula and its relationship to your practice's philosophy. Boden suggests paying special attention to any events that will influence the practice's profitability (e.g., a merger or acquisition, hiring a new physician, etc.).

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