Sponsored by Nitra
Managing a medical practice may make it difficult for some physicians to focus on their patients the way they would like. Nitra (New York City, N.Y.) has stepped in to assist with a spend management solution created specifically to help physicians and their practices.
“As a physician trained in clinical medicine, my biggest concern has always been managing a practice and staff while also providing a premium medical service,” noted board-certified plastic surgeon Effie Politis, MD, in Tampa, Fla.
“Unfortunately, most physicians have not had the opportunity to enroll in business classes and there is no formal guidance in managing a practice,” she explained. “Many of us lack real life experience in managing staff, overhead and expenses. Understanding your finances and growth potential can help one strategically steer their practice into the right direction.” Fortunately, Nitra helps physicians take control of their business financing.
The Nitra Visa Business Card benefits physicians by providing a way to maximize their spend and invest in their business with a streamlined system that tracks purchases and expenses.
According to Steven Bailey, MD, owner of Woodstock Plastic Surgery and Bailey Cosmetic Med Spa (Kennesaw, Ga.), getting financing for a new entity with credit limits that are useful in the day-to-day running of the practice is a challenge.
“Nitra has been a great help. I was able to get credit and a card right away and access a platform to monitor all my expenditures,” Dr. Bailey reported. “Nitra has helped streamline my build out and helps me keep track of my receipts for accounting and reimbursement purposes. The partnerships they have with other businesses have already saved me money on the purchase of supplies and services.” Some of Nitra’s partnerships include Hayden Medical, PatientPop and Vitality Medical.
According to Danielle and Jeff Sanders, owners of Skintastic Aesthetics (Littleton, Colo.), a main financial struggle for smaller practices includes affording new technologies to offer clients.
“Nitra has allowed us to invest in new technology that ensures we can provide enhanced client safety and satisfaction, and helps us stay competitive with other clinicians in our area,” said Ms. Sanders, who serves as director of Skintastic. “Having the right financial tools is important for any business, large or small, as it saves time in the long run and prevents costly errors. Nitra is very simple and straightforward to use.”
“We were extraordinarily pleased with the offerings that Nitra provided to us as a medical clinic, which includes significant discounts and savings from some frequently used medical supply distributors,” said Mr. Sanders, the clinic manager. “By building their platform to be functional and simple to navigate, Nitra has made it a point to save their customers time.”
According to Dr. Politis, Nitra helped consolidate her business management. “The ability to create virtual cards and set dynamic limits for staff members has not only reduced fraud risk but also simplified tracking. It has allowed for more spending control and streamlining of the expense management portion of our practice,” she reported. “The integrated software helps me reconcile and organize my receipts electronically as well as integrate with my accounting system.”
Nitra offers a simpler, smarter way to manage spend – creating time for what matters. By bridging the gap between supporting patients and running a practice, Nitra helps physicians find the balance that works for them.