Financial Controls in the Healthcare Practice: Using Emotional Intelligence to Trust and Verify

Abstract

While a physician’s priority is always patient care, it is just as important to keep your finger on the pulse of the practice’s financial activities. There are benchmarks and key performance indicators to monitor and paying attention to the reports from the practice management system, will provide tools to assess the practice’s current and future success. Vulnerability results from too much trust. This article discusses the use of emotional intelligence for physicians and the administrative staff to help mitigate financial risk in the healthcare practice.