Profit Improvement Strategies for Physicians
As a physician, you have invested significant time, effort, and resources into your medical practice. However, with increasing competition and a changing healthcare landscape, it can be challenging to achieve the level of profitability you desire. Through integrated planning and ongoing support, you can improve your profit. Integrated Planning for the Future One of the […]
Time Savings for Physicians and Medical Practitioners | Simplify Your Accounting
Physicians are busy professionals who have to balance the demands of patient care with the needs of their business. One area that can often cause stress and headaches is accounting. Keeping track of expenses, managing payroll, and staying on top of tax obligations can be time-consuming and overwhelming. However, by implementing a few simple strategies, […]
Small Business Succession Planning | How to Plan for Successful Succession
According to the Canadian Federation of Independent Businesses (CFIB) report released in January 2023, 76% of small business owners plan to exit their businesses within the next 10 years. However, only 9% have a formal succession plan in place. Some common obstacles to succession planning include: Completing a business valuation Improving the value of your […]
How to Avoid Physician Burnout | Tools for Saving Time and Improving Efficiency
What is Physician Burnout? Physician burnout affects people in all specialties and practice settings. It’s a long-term stress reaction that often includes: Feelings of decreased personal achievement Depersonalization (a lack of compassion or empathy for patients) Emotional exhaustion What Causes Physician Burnout? Physician burnout is caused by many factors, but the burnout epidemic is often […]
Tax Planning Strategies for Business Owners | Pipeline Planning
How to Draw Money from Your Business There are several ways to draw money from your company, and they each have different consequences and advantages when it comes to tax planning and optimization. Drawing money from your company can be done through: Salary When you take a salary, the company manages your income tax deductions […]
Understanding and Increasing Your Personal Net Worth | Advice for Physicians
What is Personal Net Worth Your personal net worth is based on the value of all your assets minus the value of your liabilities. What would you have left after selling everything you own and then paying off your debts? That is your personal net worth, or PNW. Your assets may include cash and anything […]
How Physicians Save Time | Steps for Improving Efficiency
As a physician and leader in the medical field, business tasks like tracking payables and receivables and managing payroll can distract you from what matters most – your patients, family, and the things you enjoy. There are steps you can take to make these processes more efficient to save you precious time, and we can […]
Steps to Improve Business Profit
How to Improve Your Profit The first step to improving your business profit is accessing and understanding accurate, reliable historical financial information. With good information, you’ll have the knowledge you need to make better strategic decisions. The next steps to improving your business profit include: Identifying cash flow trends for an understanding of the activities […]
Business Coaching to Improve Performance and Reach Your Goals
If your business is in need of strategic direction, a fresh perspective, or guidance to help you reach your goals and achieve more, you will benefit from business coaching from ONSight Advisory. Available Business Coaching Support Experience collaborative support tailored to your unique circumstances with specific services and advice based on what you want to […]
Financial Forecasting For Businesses
You need a financial forecast for your business if you’re considering a major change to your operation. Perhaps you’d like to add new investors or partners or expand your operation, or you’d like to sell your business or you’re in need of a loan. Forecasting allows you to analyze how different choices will impact the […]