Medical sales as a lucrative career....

Key points about medical sales representatives:

• Medical sales reps promote and sell medical products and devices to physicians, hospitals, clinics, and other healthcare providers. They serve as the liaison between medical companies and healthcare professionals.

• To be a medical sales rep, you typically need a bachelor's degree in a science or health-related field. Many have backgrounds in nursing, life sciences, or business. Strong interpersonal and communication skills are essential.
• Medical sales reps must have extensive knowledge about the products they sell, from intended uses and clinical data to proper techniques for use. They provide demonstrations and answer technical questions from healthcare providers.
• Responsibilities include scheduling appointments, meeting with physicians and nurses to promote products, negotiating prices and contracts, ensuring prompt delivery, and providing ongoing support and training on medical devices.
• Medical sales reps often specialize in a specific clinical area like cardiology, orthopedics, or diabetes care. They tend to build strong relationships with doctors in their territory over time.
• Most medical sales reps work regular full-time hours but travel frequently to meet with clients. The role requires excellent organizational and time management skills. 
• Note: Medical sales can be a lucrative career, often with a base salary plus commissions and bonuses based on sales figures. However, it's a highly competitive field.

Don’t just cut costs—optimize them!

 Here are a few tips for optimizing costs in a thoughtful way:

• Take a strategic approach. Look at the big picture of what costs are most critical to reducing versus just making across-the-board cuts. Focus on areas where you can reduce costs without negatively impacting quality, capabilities, or long-term investments.
• Involve your team. Get input from different departments and team members on where there may be opportunities to become more efficient. They often have valuable insights into process improvements.
• Leverage technology. Look into automation, AI, and other technological solutions to reduce manual work and streamline processes. But do the cost-benefit analysis to pick solutions with the best ROI.
• Renegotiate vendor and supplier contracts. See where you can get better rates or discounts. But maintain good relationships rather than just demanding lower prices.
• Eliminate waste. Closely analyze spending to identify redundancies, inefficiencies, and low ROI expenditures that could be eliminated.
• Do cost-benefit analyses. Weigh the trade-offs of cutting or eliminating specific costs in terms of risks, impact on morale, consequences for revenue and growth down the road.

The key is to take a holistic, strategic approach focused on efficiency and value rather than just arbitrary cost reductions. With some analysis and creativity, you can likely optimize costs without negatively affecting capabilities.

A few key reasons why QR codes are useful!

 As more people use smartphones, QR codes are becoming an increasingly popular way to connect the offline and online worlds. Here are some key reasons:

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• Convenience - QR codes can quickly direct a smartphone user to a website or app without having to type in a long URL. Just scan the code and you're instantly taken to the destination.
• Tracking - QR codes can contain encoded data that allows companies to track analytics like how many people scanned the code and where they scanned it from. This provides useful business intelligence.
• Information onDemand - QR codes can link to information that is frequently updated like menus, price lists, schedules, etc. The information stays up to date versus printing static info on a sign or brochure.
• Security - QR codes can encrypt data like WiFi passwords or payment info that is revealed once scanned. This provides more security than openly displaying sensitive info.
• Mobile Friendliness - Smartphones enable QR code scanning as a standard feature. So QR codes allow businesses to bridge the gap between the physical and digital world.
• Viral Marketing - QR codes enable sharing of links, apps, videos, etc easily. Scanning a code is quicker than typing a long URL, so they help content go viral.

So in summary, the main benefits are convenience, analytics, keeping information current, security, mobile functionality and viral spread.

Today is Health Unit Coordinators Day, a day to celebrate the vital behind-the-scenes work these healthcare professionals do!!

 Prospects in Warm Market: Hospitals, Urgent Cares, Large Primary Care (minimum $2M annual in payer revenue with their top 3 payers)

What's the cost of not claiming business tax incentives?

 Here are some potential costs that businesses may face if they do not claim eligible tax incentives:

• Missing out on tax savings/credits: Many business tax incentives like investment credits, employment credits, R&D credits, etc. can directly reduce a business's tax liability and save them money. Not claiming available credits means missing out on these savings.
• Higher effective tax rates: Tax incentives effectively lower a company's tax rate if claimed. Not utilizing available tax breaks means paying taxes at the higher statutory rates.
• Reduced cash flow: Credits provide an influx of cash by allowing businesses to monetize unused tax incentives. Unclaimed credits mean less cash flow.
• Higher costs of capital: The tax savings from properly utilizing incentives allows businesses to retain more capital for investment and growth. Forgoing tax benefits raises the cost of capital.
• Competitive disadvantage: Companies that use tax incentives efficiently gain cost advantages over rivals who don't, making it harder to compete.
• Tax penalties: Improperly accounting for tax incentives can potentially lead to penalties and interest charges if incentives are claimed incorrectly or past deadline.

The specific costs will depend on the size of the business, the types of available incentives, and the overall tax position. Stryde can help businesses maximize incentives and minimize the potential costs of leaving tax money on the table.

Why don't business owners claim their tax incentives?

 There are a few potential reasons why some business owners don't claim tax incentives they may be eligible for:

• Lack of awareness - They may not know about the various tax credits, deductions, and other incentives available to them. Small business owners in particular often don't have the resources to stay on top of complex tax laws.
• Hassle factor - Some business tax incentives require a fair amount of paperwork, record-keeping, and other administrative tasks in order to claim them. Business owners may decide the extra effort isn't worth the potential tax savings.
• Eligibility concerns - Business owners may be unsure if they actually qualify for certain tax incentives based on their business structure, size, industry, or other factors. Rather than risk an audit, they may avoid claiming incentives they aren't absolutely sure about.
• Cash flow - Some tax incentives are designed to be claimed over a period of years. A business may not be able to afford to forego the tax savings in the short term, even if the long term incentive is valuable.
• Fear of audit - Claiming large deductions or credits can raise a business' audit risk with the IRS. Some owners may prefer to avoid attracting such scrutiny.
• Lack of tax planning - Business owners focused on day-to-day operations may not proactively seek out tax planning advice to maximize incentives and credits.

So in summary, a combination of financial constraints, uncertainty, lack of awareness, and fear of audit may lead some business owners to leave potential tax savings on the table.

All of that is addressed with our proprietary software which allows small to mid-sized businesses to take a quick 60-second confidential survey to determine if they qualify for any of these benefits! Then we do 98% of the work, your CPA/accountant can then submit our findings to the IRS.

Over the past 23 years we have never experienced a client complaint as there exists no opportunity for them to have a negative experience in that we are not paid unless and or until we are successful in realizing the benefit to the client!!

Crazy week ahead???

 We have had, for months, an inverted yield curve. If you have that situation for more than a momentary blip, it suggests a recession is on the way. Then there’s the LEIs, leading economic indicators. They have come in negative for 16 straight releases. That’s not a misprint. Every month for 16 months, the LEIs have determined negative action in the economy.

And we have China. Their economy is on the ropes in many ways and like it or not, we’re connected at the hip with them. Not to mention the sky high P/Es on many of our biggest stocks, nor the fact that all these earnings beats you hear about are only because estimates have been lowered to the ground!!

And we the BRICS meeting in South Africa. There’s been all manner of speculation concerning just what exactly they’re going to come away with. Is Saudi Arabia going to announce they’re now a full blown member? Are they truly going to announce their gold backed currency for use in trade between member nations?

It’s not often that you have a specific week, where the economic structure of the world could literally change. That’s exciting and frightening at the same time.