Advanced Practice Management has extensive experience in multiple practitioner practices. One of the most important success ingredients is a detailed accounting system with Profit Distribution Formulas by practitioner. Practices often split up over finances or inequitable profit distribution to the various professional. We have crafted, over years of experience, profit distribution formulas that properly assign general overhead and specific expenses to the professionals in the group. Since the Advanced Practice Management model requires monthly accounting done on time each month, each practitioner knows where they stand as far as profit or loss.
Profits are accurately distributed at the year end, so the chance of over distribution of profits creating a negative net worth in the practice are eliminated.
Our practices stay in balance through our triple A program, accountability, assessment and action, which means proper accounting done on time, proper analysis of actual profits by practitioner, and a strategic plan on payment of profits, cost reduction and revenue enhancement.