Summary:
In this Coach’s Corner episode, Jennifer Gligoric and Tracey Sundkvist dive deep into the financial management missteps that keep clinics from scaling—and share practical fixes that could help you uncover $10,000 (or more!) in just 10 minutes. From understanding the real difference between revenue and collections to building a bulletproof emergency fund, this episode is packed with actionable tactics for clinic owners ready to step up their financial game.
Key Topics & Takeaways:
- The Language of Business:
Tracey Sundkvist explains why learning to ‘speak business’—knowing your numbers and understanding financial facts—is the fastest way to a healthy, thriving clinic. - Revenue vs. Billing:
Jennifer Gligoric breaks down the crucial difference between what you’re contracting and what you’re actually collecting. Don’t confuse signed package values with cash in the bank! - Cash Flow & Collections:
Poor collections and inconsistent payment plans can sink even successful clinics. Get a handle on how much is coming in, when, and from whom. - Emergency Funds:
Both hosts stress the importance of having at least 3 months’ expenses set aside, especially for insurance-based clinics, to weather inevitable payment delays. - The Power of a Business Plan:
A solid business plan is your springboard for growth, attracting partners, and scaling to multiple locations. - Audit Everything:
Jennifer Gligoric shares real-world stories of renegotiating vendor contracts and cutting costs without slashing staff. Regular audits can uncover thousands in savings. - Tax Planning:
Don’t just rely on your accountant—get a tax planning expert who can help you make smarter decisions, from equipment purchases to asset management. - Intentional Growth:
Before you celebrate a cash windfall, know exactly what you want to do with that money. Set clear goals to avoid waste and maximize impact.
Action Steps:
- Review your last month’s revenue and profit—know your numbers!
- Build or revisit your business plan.
- Separate contracting from collections in your tracking.
- Audit your expenses and renegotiate vendor contracts at least annually.
- Ensure you have a tax planning expert on your team.
- Set aside at least 3 months’ expenses as an emergency fund.
- Make a plan for every dollar you want to earn.
Connect with Us:
Questions or want to dig deeper? Book a free 15-minute brainstorming session with Jennifer Gligoric or Tracey Sundkvist at superclinicproject.com—just click on our pictures!
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Let’s help you bring more value to your clinic and patients!
