Smart tools for physician financial well-being.
Dr. Sharma's successful medical practice was burdened by unexpectedly high operating expenses. She struggled to pinpoint the exact sources of cost overruns, impacting her ability to effectively manage cash flow and plan for future investments, especially with $280,000 in student loan debt.
Using Golden Door Asset's Cost of Doing Business Calculator, Dr. Sharma identified inefficiencies in staffing, supply chain management, and marketing. Analyzing the data revealed a $35,000 annual overspend on medical supplies and redundant marketing efforts. By renegotiating vendor contracts and streamlining marketing, Anya could potentially redirect funds to debt repayment and investment.
The advisor input Dr. Sharma's practice expenses into the Cost of Doing Business Calculator, compared those numbers against industry benchmarks and then used the Agent Labor Arbitrage Calculator to evaluate staffing costs. This helped identify outliers and potential areas for improvement.
$35,000 in annual savings re-allocated to debt reduction and long-term investing.
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