What does it do?
How to calculate
Measures the financial health of your business. A Healthy Business results in 2+
Divide your Total Assets by your Total Liabilities
Measures your business liquidity. The optimal result is 1+
Divide your Current Assets (less stock) by your Current Liabilities
Many Practices are now selling products and often cash can be tied up in unsold stock.
Cost of goods sold divided by the average value of stock
Average Fees Earned by Practitioners
Individual Practitioners can compare their fees earned with average fees earned
Total Fees earned in a given period divided by the number of Fee Earning Practitioners
Average Fees Earned by all Personnel
Staff members can see a result from their efforts and share in the rewards
Total Fees earned in a given period divided by the number of Personnel
Average Hourly Income
Calculates the average hourly income
Total Fees earned in a given period divided by the total Working Hours of Fee Earning Practitioners
Average Hourly Expense
Calculates the average hourly expense
Total Expenses in a given period divided by the Total Working Hours
Average Daily Expense
Calculates the average daily expense for running your business
Total Expenses in a given period divided by the Total Working Days
Take the Average Hourly Income and see how many hours you need to work to cover the expenses for the day. Once the expenses are covered, the income to end of day is then profit.
Calculate this for the week instead of the Day and you might be more relaxed about having a day off.
Eliminate more data entry by using a Card Reader to swipe Medicare Cards and Credit or Debit Cards. USB plug and play. Cost $250 plus postage.
From 1 October 2015, security controls will be strengthened in line with government security standards.
What does it do?