For those family physicians who have a solo practice, managing finances can feel like a chore – a chore that goes undone for months. If you are not paying attention to where your money is going and how much, you could be in big financial trouble. But thanks to the growing tech world, there are dozens of financial management tools that you can take along with you to the office. Here are few mobile apps to consider as a family physician with a private practice.
A web-based personal finance app, Mint organizes all of your bank accounts and credit cards into one place. According to their website, “Mint does all the work of organizing and categorizing your spending for you. See where every dime goes and make money decisions you feel good about.” As a physician, you will be able to manage your expenses like gas and groceries, receive alerts if you go over budget in certain categories like office supplies, and receive weekly financial summaries that show exactly where your money went. This app is currently available for free on iOS and Android devices.
One of the titans of e-commerce, PayPal is considered one of the safest and most secure ways to buy items online or transfer money to individuals. With PayPal, you can add or withdraw funds, as well as deposit checks which is convenient for physicians who have office hours after banks are closed. By simply taking a picture of the check, you or your receptionist will be able to deposit the money without ever leaving the office. The ability to send and receive money on the go is definitely a time-saver for many family doctors. The PayPal app is available on iOS, Android and Windows devices for free.
This free app gives doctors the tools to manage the business side of their practice. Launched in 2011, Healix acts as an administration tool that is meant to “boost client efficiency” as well as improve patient care and profitability. The key features of the app include:
- Real-time managed care data based on the physician’s contracted fee schedules with 3rd party payers
- Real-time patient roster and financial performance data for the physician’s infusion center
According to Healix, their goal is “to streamline critical infusion center data so that physicians can make informed decisions almost instantaneously.” The Healix app is only available to current Healix clients and is free at the iTunes App store.
Similar to Mint, Pageonce is an award-winning app that allows you to track all of your finances in one place. You will be able to manage your money on the go, pay bills, receive reminders, and view deposits all in an easy-to-read format. You can also schedule bill payments and request real-time alerts on upcoming bills, suspicious account activity and overage charges. The app is free for the iPhone, iPad, Android, Blackberry, and Windows phones.