In our latest video, our founder Mohamed, CPA, walks us through Opportunity Cost and how it applies for your clinic.
Opportunity cost is the forgone benefit that would have been derived by an option not chosen.
To properly evaluate opportunity costs, the costs and benefits of every option available must be considered and weighed against the others when operating your practice.
It is a great annual metric that allows you to reassess how you operate your clinic and what the opportunity cost may have been with each change you implement in your practice.
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