Dear Client

Financial controls and  checks and balances are in place in any business whether run by a manager or owner, or whether it is in the retail, wholesale or service industry. These controls ensure time optimisation, smooth running, efficiency and of course, a positive cash flow.

Large companies are likely to use income statements, trial balances, bank reconciliations or even till slip totals to ensure accuracy of systems within their operation. Similarly, our PMA (Practice Management Applications) products generate reports for you as the manager or owner to keep a tab on your business.

Our software avails you of many valuable reports including EDI reports, daily audit trails, turnover and receipts audit, just to mention a few. Without checking these, you could be losing money unnecessarily without even being aware of it.  Simple mistakes like forgetting to charge for a consumable, an entire visit or alternatively forgetting to fix a rejected claim could have a serious cumulative negative affect on your business.

As with any bookkeeping system or software program, the output is a direct result of the user’s input. Daily routines and controls are what determine the efficiency of the product.

Although reports are covered in training, I feel that it is my duty to remind you of the importance of these control tools. I have dedicated a large portion of this newsletter to point out some critical controls that should be implemented in your practice.

Proper financial administrative systems and controls within your practice will ensure that you will never be at the short end of the stick – controls, financial management and proper debt collecting are the cornerstones of an effective and prospering practice.

The tools provided in our PMA products combined with a few simple procedures (and allocating ownership of these) will leave very little room for error.

Unfortunately nothing can replace or assume the basic responsibility of proper debtor management done by your practice manager(s). Tools are tools and should be optimally used; however, without the handyman the tools are useless.

I trust that you will implement the various controls discussed in this newsletter and invite you to contact us for advice should you require any clarity or assistance.

Until next month, happy practicing.

Gideon Brits
MD: Med-e-Mass

For assistance, on the various products, please do not hesitate to contact our National Call Centre at 0860 98 00 98