Four essential things medical practitioners need to factor in to their finances

There are a number of aspects of financial wellbeing that medical practitioners need to look at that may be unique to the medical profession. Certainly as graduating professionals they have usually had to take student loans and tread a long path to finally being able to make some money.

A few pertinent financial planning pointers for young medical practitioners

We are aware that many of our seasoned medical practitioners who have been partnering with a good medical practice finance management company for a while are aware of the kinds of financial plans they need to make, but there are many young people just starting out in medical practice and they have some unique aspects of their financial challenges that they need to face and deal with.

A few ‘P’s that perfect a medical practice

In the interests of supporting our partners in the medical fraternity we try to advise on ways that you, as a medical practitioner, may be able to create a better practice. We have done a few articles on setting up a medical practice, but this one on ‘A few ‘P’s that perfect a medical practice,’

Preventing Medical Practice Start Up Pitfalls

In the interests of offering good service and solid advice to not only our existing, but also potential future clients in the medical field, we have embarked on a series of articles, which we hope will help with the ‘start up’ of a private medical practice.

8 financial ‘wellness’ aspects wellness practitioners need to consider

We like to believe that as medical practiced financial management specialists we have, over the years assisted you to build a sound practice, which in turn should have earned you as the medical practitioner some substantial – or at least reasonable wealth! Now that you have some money, there are many aspects of building your personal wealth and just the financial stuff that goes on in life that simply can’t be ignored.

A few healthy tips if you’re setting up a medical practice

In the interests of serving the medical profession as a whole, we at MFI, believe it is not only important to diligently ensure the financial ‘wellness’ of practicing practioners and hospitals, but to also advise and encourage those who have dreams and ambitions to enter private practice.

A few good business reasons to enter the primary healthcare space

You may be on the threshold of entering the Primary Healthcare business (PHC) – or still at the stage where you are just looking for a future business that offers good prospects.

Your financial wellness is not just about your medical practice

We have published …and will continue to publish many articles about the reasoning behind and the vital importance of medical practitioners and hospitals partnering with financial specialists in the medical industry. The reason for this is because it is the main offering and largest focus of MFI, one of South Africa’s most respected and reputable exponents of medical practice management.

9 great reasons for partnering the experts

MFI is a multi faceted financial institution that offers many areas of financial management expertise – the primary one being the financial management of the medical profession. It is highly specialised and requires a level of expertise that is not offered by many other financial institutions.

4 tough Q&As asked and answered by Medical Finance Managers

When in your own business, there are many problems that can arise regarding financial management ….and none more so than in the medical profession. As medical practitioners know only too well, their livelihood relies largely on the management of funds administered and paid to them by medical aids and so they face a few unique challenges.

A few pertinent questions were put to medical practitioners and the solutions provided in this article were provided by M.F.I one of the country’s premier Medical fund management firms. So, what are the 4 tough Q&As asked and answered by Medical finance Managers? Let’s find out…

The four questions that were asked were as follows:
• Are you drowning in Medical practice administration?
• Are you struggling to get what’s due from your medical aids?
• Are medical aid audits giving you a headache?
• Is medical billing crippling you?

The answer, sadly, from many medical practitioners asked was a resounding “yes” to most of the questions, but happily the solution to all of these issues is found in just one solution. The solution is a Medical practice financial management service that M.F.I provides to medical practitioners – at least in Bloemfontein and Cape Town, as that is where they are based.
If you, as a medical practitioner, have any doubt that this will in fact answer all the tough questions asked, then just know that over 100 medical practitioners already enjoy the state of the art technology that enables this experienced company of medical finance experts to process medical aid claims in excess of R200 million a year!
The motto adopted by M.F.I is ‘While you get on with the wellness business – we make your financial wellness our business!’ This pretty much sums it up, as the service is comprehensive and really does take the headaches out of medical practice finance and administration, allowing medical practitioners to just get on with making people well!

The services include:

• Setting up Hospital & Medical Practice Services
• Data processing of hospital & medical claims
• Administration of medical accounts
• Collections
• Control of payments
• Contact with medical schemes
• The updating of medical fees
• A call centre for patients
• Training in medical software ….to name a few.

As one can see, the service is 2 tiered and includes both ‘Medical practice management’ and ‘Medical and hospital practice management ‘ taking the hassle out of ‘day to day’ medical administrative issues with clients, hospitals and medical aids alike.

If you answered “yes” to any of the 4 tough Q&As asked and answered by Medical finance Managers, we suggest you contact us to find out more and start a new life that will give you ‘peace of mind’ and a highly improved medical practice!