Healthcare Accounting Service

Chances are, you probably already outsource your accounting - to an annual tax accountant, that is. Outsourcing monthly accounting brings bookkeeping and tax filing together, but it also includes:

• Year-round tax strategy to minimize what you owe in taxes
• Monthly financial statements to guide you
• Monthly bank and credit card reconciliation 
• Monthly meetings with your accountant to get personalized advice
• Unlimited contact with your accountant at no extra cost
• Sales tax returns filed on time and accurately

If your business processes a lot of mileage reimbursements, for example, you can get bogged down with payroll quickly as you grow.

Once running payroll takes up time, energy, and effort that you can't prioritize over other aspects of running your healthcare practice, it's time to hire a payroll service.

A good, reputable payroll service provider will, in an accurate and timely manner:

• Pay your employees
• Pay your payroll taxes
• Prepare your W-2s
• Handle all weekly, monthly, quarterly, and annual compliance with the state and federal government

Plus, if you've been facing those pesky IRS penalty notices, a payroll service will stop them.

In this industry, a payroll specialist can also assist in helping you attract and maintain your talent. Your workers are extremely important, and a payroll specialist can help point you to benefits to keep them happy.

In the healthcare industry, your cash flow matters just as much as your profitability. Why is that?

If you have $100k worth of work and bill it to insurance, you may still only get $30k worth of receipts for that month. You can be profitable but not have the right cash flow yet.

In the meantime, you still have to pay your bills. An accountant can help you:

• Monitor your cash flow
• Improve your billing practices
• Advise on lines of credit to support yourself with
• Work on creating a better budget

Monthly accounting is a step up from just bookkeeping and annual taxes. It offers much more value and peace of mind, but it also costs more than DIY-ing with bookkeeping software. That means very small or very new businesses might not get the right amount of value until they have more accounting activity.

However, if you're in the portion of healthcare that has high profit margins, your time is much better spent on billable hours.

Find out which level of accounting is best for your healthcare practice.

No, this does not align with our business structure. Our monthly accounting fees include the cost to file annual taxes, and monthly accounting is made up of monthly bookkeeping, financial statements, and advice.