Private Practice Accounting and Bookkeeping Strategies

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In this episode, Gordon and accountant Julie Herres discuss common mistakes private practice owners make in regard to accounting. The first mistake is not knowing your numbers. Some standard numbers every owner should know are how much you are bringing in, your overhead, variable costs, and how much you need to take home each month. Another common mistake private practice owners make is not spending enough money?! Julie explains how essential it is to start spending money in order to make more money. For instance, once you have a waiting list, it must be time to start a group practice. Another example of spending money to make more money is when you need to outsource things to become more productive.

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