Definition of Practice Budgets


Practice Budgets means the annual operating and capital budgets prepared in good faith by Manager, in consultation with Practice, and reflecting in reasonable detail the anticipated Gross Revenue, Net Collections, Practice Expenses and expenses of Manager, and sources and uses of capital for growth in the Practice.
Sample 1

Examples of Practice Budgets in a sentence

All such capital expenditures shall be made in accordance with the annual Practice Budgets prepared by Manager.
Practice shall have the sole authority to hire, supervise, evaluate, suspend and terminate all employed or contracted Physician Extenders; provided, however, that the number of such Physician Extenders shall be determined in accordance with the annual Practice Budgets.
In accordance with the Practice Budgets, Practice shall be responsible, with the assistance, advice, and consent of Manager, for providing all marketing and public relations services in accordance with the standards of medical ethics of the American Medical Association and any state or local medical society or association with which any Physician is a member and all applicable Laws.
Manager shall maintain or cause to be maintained all equipment in good condition and repair, reasonable wear and tear accepted, and shall refurbish or replace the same as it becomes worn out or obsolete in a manner consistent with policies on medical technology and the annual Practice Budgets.
Practice shall have the sole authority to hire, supervise, evaluate, suspend and terminate all employed or contracted Physicians; provided, however, that the number of Physicians employed by Practice shall be in accordance with the annual Practice Budgets, and provided further, that Practice shall staff each Practice Location with such number and subspecialty of Physicians as are jointly determined by Practice and Manager to be necessary in connection with the efficient operation of the Practice.