Medical Practice Management
Your Management Strategy Just Got Easier and More Effective
If you are like so many other medical practice owners, you are struggling with a variety of management challenges. From getting lost in the bookkeeping to hiccups in your processes and everything in between. But what if you new that a better way of managing your practice was not only available, it's always been closer than you even realized.
As a Top 100 CPA Firm with 12 offices across Ohio, we are uniquely positioned to help you manage your medical practice better - in every sense of the word. Keep reading to discover some of the services our team of dedicated medical practice professionals can offer.
Do you take time to review where you’ve been and where you want to go? An annual review of your business is an important planning tool. Sitting down with your advisory team can ensure that you are on the right track while bringing to your attention changes that must be made in order to continue driving the results you are looking for.
Compensation and Bonus Allocation Design
If your practice has more than one professional, your compensation and bonuses are most often defined by the contracts you have on file. When was the last time you considered whether if the information stated in the contract reasonable? It’s imperative for the future success of your practice to know that all parties are being reasonably compensated for their work. Assessing your compensation and bonus allocation design will not only help you adhere to industry standards, it should have a positive impact on your workforce, which will reflect on your practice's productivity.
You entered the healthcare field to help people, not to become an accountant. But when it comes to managing the financial wellness of your medical practice, you can not discount the importance of accounting. Fortunately, maintaining best practices or even outsourcing portions of your accounting can help make your job as manager easier, and will give you more time to see patients. Give us a call to find out how we can help you apply best practices to your monthly or quarterly accounting responsibilities, become a QuickBooks expert, better manage your payroll prep and more.
Practice Value and Expansion
Do you know how much your medical practice is truly worth? A lot of times, medical professionals think they have a good grasp on their practice's value only to discover that they were not even close. Regular valuations are essential to make sure you not only have a realistic value of your practice, but can develop a strategy to grow its value. This knowledge will empower you to make vital decisions, including whether to expand your practice or even whether to retire. Give us a call to learn more about our valuation and transaction advisory services.
Whether you are seeking help with your day-to-day accounting and tax issues, or are simply looking for more strategic guidance, the best place to start is by giving us a call. Our team of medial practice consultants and financial professionals can help address your concerns and help plan for you future. For additional information, contact our ohio medical accounting specialists.