The Financial Management analysis of the analysis is the most important part of the entire “deep-dive” process. It is important as the owner of your practice to have an understanding of accounting, financial management, budgeting and forecasting. It is crucial to know your critical numbers and have a system in place to monitor them carefully.
During the financial management analysis, we will review the office financials to understand the health of the practice and use tools that will help to drive the practice. While you are the practice CEO, you are also required to be the practice CFO when reviewing metrics and reports.