Medical and Dental Practice Solutions
There is one fundamental question to every doctor in practice today… “Have you developed the ‘business’ side of your practice to match the level of the ‘clinical’ side of your practice?” This perspective is very foreign to many doctors as they did not necessarily set out to be an entrepreneur or go to school to be a business owner. Yet as all Doctors experience after going into practice for themselves, owning a practice entails much more than being highly qualified clinicians.
The Doctors that really separate themselves are the savvy professionals that, not only acknowledge this fact, but have made a commitment to see their practice to be amongst an elite group, in that their “business side” equally matches the “clinical side” of their practice. These doctors recognize that making money and keeping it are VERY different challenges that can and will be addressed in their practice. As a result, there are some very common problems that have been identified in the diagnostic process of evaluating the “business side” of most practices.
Six of the most common problem areas are:
- New Patients – How can we attract and retain them?
- Financial Systems – How is the money tracked and controlled?
- Corporate Formalities – Is the corporate veil in tact?
- Legal Documents – Are the “I’s” dotted and “T’s” crossed?
- Tax Returns – Are they accurate? Are there “Red Flags”?
- Asset Protection & Estate Planning – Are you and your family protected?
With nearly nine out of every ten practices having one or more of these areas that need to be addressed or re-addressed (and ALL of them working with licensed CPA’s and Attorney’s) the question is not… “Should I have these areas reviewed by a third party?” but rather “When do we get started?”
This industry is represented by:
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About Chris Amato
Chris’s first entrepreneurial endeavor began with him starting a home theatre/ surround sound installation company in the mid nineties. Chris soon after bought a cellular phone franchise in which he owned and managed five retail locations. The challenges he encountered as a small business owner were a sobering reality check. As much as he knew about the industries he was in, the application of business theory was much more difficult than the bookwork he learned in business school. These challenges motivated Chris to learn more about the “business of business” and the actual application of proven business principles. As a result, he took a position with one of the nations largest small business development firms and became a Senior Business Analyst. For nearly five years Chris traveled across the country analyzing businesses in a vast array of industries. All in all he has seen more than 600 companies literally from coast to coast. He was ranked in the top 5% of over 250 Business Analysts nationwide with the firm. Chris also won a number of various awards for his work including the coveted “Directors Circle Award “ for his exemplary business diagnostic skills as well as being nominated by the company’s senior executives to “Presidents Cabinet” (An advisory counsel).
Chris Amato is now the CEO/Senior Advisor of Triton Business Advisors LLC and Triton Practice Solutions. Tritons’ focus is directed to Medical and Dental practices seeing them increase their patient base, maximize profit, establishing check and balance systems to minimize embezzlement, protect their assets, and reduce their tax burden amongst other business solutions for practices. With over 15 years of entrepreneurial experience and his business model to “Empower Your Business”, he is committed to helping business owners succeed.
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