Assignment task: The purpose of this discussion is to examine how to calculate and analyze practice management ratios.
1. Read: Discussion Background
During your weekly meeting with Dr. Jones, he expressed his concerns regarding the decline in patient appointments, due to no-show's and is worried about how this will impact practice revenue. He would like for you to research the percentage of no-show's the practice currently has and come up with a plan to help reduce and manage no-show's in the practice.
2. Answer all three parts of the initial prompt below elaboratively using original words
Identify the ratio you would use to find out how the no-show's affect the practice. Explain why. examples, liquidity ratios, current ratios, quick ratio. and Solvency Ratio: Debt-to-Net-Worth Ratio without plagiarism , what measures can be taken to reduce no-show's in the medical practice.
Now that you identified how the no-show's affect the practice, list ways you can implement to increase patient revenue.
Explain how A/R and A/P play an important role in a practice revenue.