How Can Pediatric Practices Manage Financial Risks?
Managing financial risks involves proactive planning and strategic decision-making:
Emergency Fund: Maintaining an emergency fund to cover unexpected expenses or revenue shortfalls. Insurance Coverage: Ensuring adequate insurance coverage for liability, malpractice, and property damage. Diversified Income: Diversifying income sources to reduce dependency on a single revenue stream. Financial Audits: Conducting regular financial audits to identify and mitigate potential risks.
