It’s July.
Half the year is behind you.
And if you’re like most practice owners, you have no idea whether you’re on track for your financial goals.
You’re too busy seeing patients to stop and assess.
Too overwhelmed by daily operations to examine the bigger picture.
But here’s the uncomfortable truth:
The third quarter just started, and what you do right now will determine whether December brings celebration or crisis.
The good news?
A mid-year financial health check takes less time than you think.
And the clarity it provides could save your practice from a year-end disaster.
The Third Quarter: Your Make-or-Break Moment
July isn’t just another month.
It’s your financial pivot point.
With six months of actual data, you can predict your year-end position with startling accuracy.
Simply multiply your first-half performance by two.
That’s your likely year-end result if nothing changes.
Scared by what you see? Perfect.
You still have six months to course-correct.
Pleased with the projection?
Excellent.
Now you can strategically invest in growth instead of hoarding cash from fear.
Why Most Practices Skip This Critical Step
You tell yourself you’ll review finances “when things slow down.”
But things never slow down.
Meanwhile, problems compound in the shadows:
✓ Tax liabilities growing larger than expected
✓ Cash flow gaps widening unnoticed
✓ Missed opportunities for strategic adjustments
✓ Deductions and savings slipping away
By December, it’s too late to fix any of it.
Your Mid-Year Financial Physical: Five Vital Signs to Check
Just as you’d never skip a patient’s vital signs, don’t skip your practice’s financial vitals.
1. Revenue Reality Check
Take your year-to-date revenue.
Multiply by two.
Is that number what you expected for the full year?
If not, you need to act now, not in December.
2. Expense Examination
Your first-half spending tells you everything.
Double it.
Can your practice sustain that burn rate?
Are you overspending in areas that don’t drive growth?
This is your chance to trim fat before it becomes critical.
3. Tax Projection Preview
Here’s where practice owners get blindsided.
That tax bill coming in April?
It’s being determined right now, in the third quarter.
Calculate your projected tax liability today.
Start setting aside funds now.
Adjust your quarterly payments if needed.
April you will thank July you.
4. Cash Flow Forecast
Look at your cash patterns from the first half.
When did crunches occur?
Which months were strongest?
Project these patterns forward.
Prepare for the valleys.
Capitalize on the peaks.
5. Profit Margin Analysis
Your mid-year profit margin reveals your practice’s true health.
Not the revenue number you share at conferences.
The actual profit that funds your life and future.
If margins are thin now, they won’t magically improve without intervention.
The Power of Starting Quarter Three Strong
The third quarter isn’t just another three months.
It’s your opportunity to:
✓ Implement course corrections while they still matter
✓ Maximize tax-saving strategies before year-end
✓ Build cash reserves for seasonal slowdowns
✓ Make strategic investments with confidence
But only if you act now.
Not in October.
Not “after vacation season.”
Now.
Your Choice: React in December or Act in July
You can ignore this message.
Many practice owners will.
They’ll reach December, look at their finances, and wish they’d acted in July.
They’ll scramble to reduce tax liability with days left in the year.
They’ll enter the new year already behind, already stressed.
Or you can take control now.
One afternoon.
One honest assessment.
One opportunity to change your practice’s trajectory.
The practices that thrive don’t have perfect finances.
They have regular check-ups that catch problems early.
Take Action While Time Is Your Ally
That simple formula – first half times two – is either your wake-up call or your green light.
Either way, you need to know.
Your patients depend on your practice’s financial health.
Your family depends on your financial security.
And you deserve the peace of mind that comes from knowing exactly where you stand.
Ready to Get Clear on Your Practice’s Financial Health?
Just as you wouldn’t diagnose a patient without proper examination, assessing your practice’s financial health requires expert analysis.
At Owings LLC, we specialize in mid-year financial health checks that give medical practices the clarity they need to finish strong.
We’ll help you understand exactly where you stand and what adjustments will maximize your success.
Our comprehensive review goes beyond basic numbers.
We identify opportunities, flag concerns, and create actionable strategies for the crucial months ahead.
Don’t let December surprises derail your practice.
Schedule your free practice financial and tax planning analysis today and discover how a mid-year check-up can transform your year-end results.
Because you deserve to end the year celebrating success, not scrambling to survive.