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How Treasure Coast physicians can fortify their practice business for long-term success
By Susan Rabinowitz, Bank of America Business Banking Market Executive and Treasure Coast Market President
Running an independent medical practice today requires more than clinical expertise. It demands constant balance in an increasingly volatile business environment. On the Treasure Coast, where the population places sustained demand for local healthcare, that balance is especially hard-won. Physician-owners are navigating unpredictable cash flow, escalating cyberthreats and growing economic complexity, all while managing the day-to-day realities of running a medical practice. Despite these mounting pressures, their commitment to delivering high-quality patient care never wavers.
No matter the economic climate, there are proven business practices physicians can rely on to manage change and succeed through uncertainty. The following strategies offer a clear, practical path forward.
- Keep the cash flowing.
An MGMA Stat survey found that only 56% of medical group business owners reported revenue growth in the first half of 2025 compared to the same period in 2024, while 30% reported an outright decline.
In a region where independent practices frequently serve as a primary access point for care, particularly in areas with limited physician availability, the pressure to maintain a healthy revenue cycle is amplified.
Closely monitoring accounts receivable is one of the most direct ways medical practices can stay on the right side of that divide. Ideally, collecting payments for services in 35-40 days provides an early warning system for cash flow issues before they escalate. Administrative staff should run weekly aging reports to create a snapshot of all outstanding balances owed to the practice and monthly reports of the net collection rate to show whether the practice’s revenue cycle is healthy overall. If those reports identify an insurer that consistently pays late, it could be an opportunity to renegotiate terms.
Accounts receivable data can also help diagnose administrative issues. For example, if collections consistently lengthen to 60-plus days, physician-owners should examine their processes for inefficiencies. There could be issues in how claims are submitted, how workers code the collections or how often they follow up with payers.
- Protect the practice from cyberthreats.
Healthcare recorded the highest average data breach cost among industries for the 12th consecutive year in 2025 at about $7.42 million per incident. Notably, patient personal information is the most frequently targeted data type, compromised in over half (53%) of all breaches. In many medical practices, that personal information flows freely through email, a communication channel that is not inherently secure, despite commonly held assumptions. In fact, phishing, which is delivered primarily via email, was the single most common initial attack vector for data breaches in 2025.
Once a breach occurs, healthcare organizations also face the longest containment timeline of any industry at 279 days — the time it takes to stop a data breach after it has been identified. This long delay leaves practices exposed to HIPAA violations and the kind of reputational damage that is difficult to come back from.
At a time when operational stability and patient trust are critical, physician-owners cannot afford to leave gaps in their cyber defenses. Encouragingly, this is a concern business owners are increasingly addressing. Of the 91% planning to use digital tools in the next five years, 30% cite cybersecurity as a primary motivation, per Bank of America’s recent Business Owner Report. For small medical practices, the solution may be as straightforward as replacing standard email with a HIPAA-compliant secure messaging platform, which encrypts communications end to end and maintains an audit trail that standard email cannot provide.
- Bring in the right experts.
Physicians go through rigorous training to diagnose and treat disease, not to parse through the minutiae of tax law or contract negotiations. As the economic landscape grows more complex and unpredictable, the divide between what a physician knows and what a medical practice needs to thrive tends to widen. The Treasure Coast’s evolving healthcare landscape, marked by new hospital openings and expanding health systems, only raises the competitive stakes for independent physician-owners.
For this reason, physician-owners should meet with a dedicated advisory team of bankers, accountants and attorneys. A banker can advise on the current interest rate environment; an accountant can ensure compliance with evolving tax regulations; and an attorney can provide counsel on HIPAA compliance and insurance contract negotiations. Having experienced advisors with deep industry expertise and an understanding of the regional market dynamics shaping healthcare can help physician-owners lead with confidence.
The challenges facing physician-owners today are significant—but far from insurmountable. Those who take a proactive approach to managing cash flow, strengthening cybersecurity and building trusted advisory relationships are better equipped to withstand disruption and stay focused on what matters most: delivering exceptional patient care.
Treasure Coast Business is a news service and magazine published in print, via e-newsletter and online at tcbusiness.com by Indian River Media Group. For more information or to report news email news@indianrivermedia.com.