Personal finances and clinic finances

Carrying out the financial management of a clinic or office, as well as in any other type of company, is a very important task, and it must be done carefully.

In some previous articles, we have already discussed how important it is to monitor cash flow. Even in the medical software Ninsaúde Apolo, there is a specific area for this, where all the values of inputs and outputs are automatically calculated so that the administrator can perform more practical and efficient management.

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Between mistakes and successes, many managers end up doing something extremely harmful to their business, which is mixing personal finances with company finances. This also occurs frequently in the administration of clinics and offices, and we will see below why this error is so common, what are the risks of this practice, and how to correct it.

Before taking any action, it is important to create an exclusive bank account for the clinic's finances. Even if you have a small office where you will be the only health professional working, having separate bank accounts will help you separate personal and company finances.

If you use management software, such as Ninsaúde Apolo, you can perform this division within the system as well, because when using the financial module of the software, it is necessary to indicate which bank account a particular payment is coming from, and which bank account a receiving is entering.

Another important point for good management is to record all the financial movements of the clinic, without exception. Did you buy a new chair for the secretary or hire an electrician to do some repairs? Record your expenses with the company's movements. Although it seems something obvious, many managers end up forgetting this detail, and this can harm cash flow, as the values obtained will not match reality.

In this sense, it is possible to state that this is the main reason why the manager should not mix personal finances with those of the clinic: so that the results are more accurate. This rule applies not only to expenses but also to receipts unless that receipt is invested in the clinic.

For you to understand better, let's exemplify. When analyzing the cash flow, if the balance is negative, it means that the company has extra expenses, in which case the manager must review the expenses to increase the profit. On the other hand, a positive balance indicates that the company is managing to keep its financial obligations up to date.

Now let's say that in your personal life, you are a collector, but you end up selling something from the collection. This amount should be credited to your personal bank account, as it was not a profit made by the clinic unless the purpose of the sale is actually to use the amount as a contribution.

On the other hand, we also have expenses. Imagine that you enrolled your child in a language school, and you include that monthly expense in the clinic's finances. As it is not an expense incurred in favor of the clinic, your cash flow will not bring you the correct information about the current balance.

As previously explained, it is necessary to analyze the cash flow so that through it the manager knows which is the best decision making, however, incorrectly registering their finances, the flow may present a balance greater or less than the reality, precisely because of this mix of expenses and income.

With this information, we believe that you will be able to perform more effective management and will be able to better define the directions that your clinic's financial health will take. We hope we helped, and if you need more tips like this, just keep following the blog.

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