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Here are a few quick power tool safety tips. Tip 1 - Always use the correct power tool for the environment.Power tools that are made for outdoor use have better insulation, heavier wiring and a three way grounded plug. Tip 2 - Keep your power cord tangle free and away from the tool "action" zone. Tip 3 - If you get any nicks or cuts in the cord, inspect them immediately. If it severe consider replacing the cord. As a last resort use tape to shield it from the elements for minor nicks. Tip 4 - Inspect the power cord and all connections regularly for signs of breakage. Tip 5 - Avoid using electric power tools on wet surfaces as water is a good electrical conductor. In combination with other factors - broken cords, machine malfunctions etc, it can put you at risk of shock. Tip 6 - Never immerse your power tool in water - seems obvious but has to be said. Tip 7 - Keep your work area clean - dust can ignite from a spark. Avoid using power tools near flammable liquids or gas. Tip 8 - Follow any specific instructions from the manufacturer. Ok, so these are some safety tips, nothing beats a safety consciousness and putting safety as a priority when using power tools. So be safe and enjoy your work. Medical Factoring: A tool to Finance your Medical Office Marco Terry e19 Regardless of what industry pundits say, opening a medical practice can be both very rewarding and very lucrative. Of course, as with any business, medical offices have their own specific financial challenges. One of the biggest challenges for medical practices of all sizes is adjusting to the long payment cycles of private insurance providers and Medicare/Medicaid. It is not uncommon for bills to insurance companies to take up to 120 days to pay. This slow payment cycle wreaks havoc in the office's cash flow, forcing the medical office to carry the costs of doing business – paying rent, equipment leases and office staff – while waiting to get paid. This can be prohibitively expensive and prevent the office from growing and hiring additional staff. At its worst, it can threaten the very existence of the medical practice. However, there is a light at the end of the tunnel. There is a financing tool that lets you capitalize on your slow paying insurance companies and turn their slow payments into immediate payments. The solution is to factor your medical receivables. How does medical receivables factoring work? Medical receivables factoring (or medical factoring for short) is a financing tool that allows you to turn slow paying invoices into actual cash, by selling them to a medical factoring company. The medical factoring company pays you for them and waits to be paid by the insurance companies. It eliminates the slow payment cycle, reducing the payment time from 90 days to two days. This provides the medical office with the necessary funds to meet expenses, such as paying rent and staff. It also frees up capital to grow the business into new areas. The medical factoring process is fairly simple. Once a factoring arrangement is established, your office sends its weekly receivables to the factoring company for immediate financing. The factoring company will calculate the actual amount paid by insurance companies (called the net collectibles) and advance you up to 80% of that amount. The remaining 20% is called the reserve, and is used to settle billing discrepancies. Once the insurance company pays the medical bill, the remaining 20% is rebated, less the financing fee. The financing fee varies based on how long the invoices were financed. Although qualifying for factoring is relatively simple, most financing companies will only work with medical offices that have net collectibles of at least $50,000. Terms usually get better as the practice grows. Medical practices, testing centers and medical supply companies that have over $200,000 a month in net collectibles are in the best position to get the best terms. This is because insurance payment processing can be very complex and there are a number of efficiencies that can be realized with high volumes. Advantages of medical office factoring Medical office factoring has some advantages over other financial products. The most important is that the financing is recurring and happens every time you invoice an insurance company. This makes it a cash on demand product. As opposed to loans and lines of credit, the factoring line has flexible limits. As a matter of fact, the limits are based on your ability to invoice, making it an ideal growth tool. Lastly, doctor office factoring is easy to qualify for and the personal credit of the practice owners is usually not involved in the financing decision. 2chttp://www.ideamarketers.com/./library/article.cfm?articleid=77923 | ||||||||||||||||||||
