Practice budget is 'living, breathing' entity: Use budget as financial commitment to back up the practice mission

摘要

Your practice budget is a living, breathing, vibrant part of the practice. It is the underpinning of successful implementation of the practice mission statement and business plan. The profit and loss (P&L) statement is not the budget. It is an histori cal document The budget is the plan. A disclaimer: the P&L compiled at the end of the year is the result of the success, or not so successful, budget of last year. It is this difference between the budget and the P&L that causes contusion to reign.