Healthcare Practice Accounting

What this service delivers

Healthcare Practice Accounting provides comprehensive financial management tailored specifically to the needs of medical practices, dental offices, and healthcare clinics. You'll receive monthly reporting that gives you clear visibility into your practice's financial health, presented in ways that make sense for how you operate.

This service handles the complexity of healthcare-specific accounting, from insurance reimbursement tracking to equipment depreciation schedules, so you can focus on patient care with confidence in your financial foundation. You'll know where your practice stands financially at any given time, with the information presented clearly and accessibly.

The outcome is peace of mind around your practice finances. You'll have reliable financial data when making decisions about equipment purchases, staffing adjustments, or practice expansion, with monthly insights that help you understand trends and patterns in your revenue and expenses.

The challenge many practices face

Running a healthcare practice involves managing complex financial cycles that differ significantly from other businesses. Insurance reimbursements arrive on unpredictable schedules. Equipment purchases represent substantial investments that need to be tracked over time. Multiple payment sources create reconciliation challenges that can obscure your actual financial position.

Many practitioners find themselves uncertain about their true financial health despite working long hours and serving patients well. Standard accounting approaches often miss the nuances of healthcare finance, leaving you with reports that don't quite fit your reality or answer your actual questions about practice performance.

This uncertainty can make it difficult to make confident decisions about practice investments, staffing levels, or growth opportunities. You deserve financial clarity that matches the care you provide to patients, and that's what this service is designed to deliver.

Our approach to practice accounting

Healthcare Practice Accounting is built around understanding the specific financial patterns of medical and dental practices. We track insurance reimbursements alongside patient payments, monitor equipment depreciation schedules, and categorize expenses in ways that reflect how healthcare practices actually operate rather than forcing your finances into generic business accounting structures.

Our methodology involves regular synchronization with your billing and payment systems, ensuring that your financial records stay current without requiring constant manual input from your staff. We reconcile multiple payment streams, identify discrepancies early, and present your financial position in monthly reports designed to be understood quickly by busy practitioners.

This approach works because it's designed specifically for healthcare finance rather than adapted from general business accounting. You get financial insight that respects the unique characteristics of practice operations, presented in formats that support the decisions you actually need to make about your practice.

Working together through the month

When you begin working with us, we'll start by reviewing your current practice structure and financial systems. This initial conversation helps us understand your specific situation, from your patient volume patterns to your insurance payer mix. We'll connect with your billing software and payment processors to establish reliable data flows.

Throughout each month, we maintain your financial records as transactions occur, reconciling payments and tracking expenses as they happen. You won't need to set aside time each month to catch up on bookkeeping or wonder whether your records are current. By the first week of the following month, you'll receive your monthly financial report showing your practice's performance.

You'll feel supported by having reliable financial information available when you need it, whether you're reviewing performance, planning for the coming months, or considering changes to practice operations. Questions that arise can be addressed directly, and we're available to discuss your reports or provide context for what you're seeing in your numbers.

Investment and what's included

Healthcare Practice Accounting is offered at $2,800 per month. This investment covers comprehensive financial management for your practice, providing consistent support and clear insight into your financial position throughout the year.

Your monthly service includes:

Complete bookkeeping for all practice transactions, including patient payments, insurance reimbursements, and operating expenses
Monthly financial reports customized for healthcare practices, showing revenue sources, expense categories, and profit trends
Insurance reimbursement tracking across multiple payers, with aging reports for outstanding claims
Equipment and asset depreciation schedules maintained according to healthcare industry standards
Bank and credit card reconciliation to ensure all transactions are properly recorded and categorized
Payroll expense tracking and tax deposit monitoring to support your payroll management
Direct communication with your accountant for questions about your reports or financial position
Year-end financial statements prepared for tax filing or lender requirements

This monthly investment provides both practical value through reliable financial records and emotional value through knowing your practice finances are being handled by people who understand healthcare operations. You'll have consistent financial visibility without needing to become an accounting expert yourself.

How effectiveness is measured

The effectiveness of healthcare practice accounting shows up in several ways throughout your work with us. You'll notice it first in having current financial information available when you need it, rather than waiting weeks for reports or wondering about your actual financial position.

Over the first few months, you'll see patterns in your revenue streams and expense categories that help you understand your practice's financial rhythms. Insurance reimbursement timing becomes clearer, seasonal patterns in patient volume show up in your revenue trends, and you'll have the context to recognize when something is genuinely unusual versus normal variation.

The timeline for seeing this clarity is typically immediate for current-month data and develops deeper context over the first quarter as you accumulate comparative information. Most practitioners report feeling more confident about practice financial decisions within the first three months of working with us, as they develop trust in having reliable data supporting those decisions.

Our commitment to you

We're confident in the value Healthcare Practice Accounting provides because we've refined our approach through years of working with medical and dental practices. Our commitment is to deliver reliable financial management that truly serves your needs as a healthcare practitioner.

If you find within the first two months that our service isn't meeting your expectations or fitting well with your practice operations, we'll work with you to adjust our approach or help you transition to a different solution. We're not interested in keeping clients who aren't finding real value in what we provide.

Before you commit to the monthly service, we offer an initial consultation to discuss your practice's specific situation and ensure this service would be a good fit. There's no pressure or obligation in that conversation, just an opportunity for both of us to determine whether working together makes sense.

Getting started is straightforward

Beginning with Healthcare Practice Accounting involves a simple process designed to be minimally disruptive to your practice operations. The first step is an initial conversation where we learn about your practice structure, current accounting situation, and what you're hoping to gain from working with us.

If we both feel it's a good fit, we'll coordinate with your existing systems to establish reliable data connections. This typically takes a week to complete, during which we'll review your current records and set up the processes that will keep your accounting current going forward. Your first monthly report will be delivered at the beginning of the following month.

The only thing that might delay starting is if your current records need significant cleanup before we can take over ongoing management. If that's the case, we'll let you know upfront and can discuss whether that cleanup should happen before beginning monthly service or as part of the initial setup.

Ready to explore this together?

If you'd like to discuss how Healthcare Practice Accounting might support your practice's financial management, we'd be happy to have that conversation. Share your information below and we'll reach out to schedule a time that works for you.

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Explore our other services

We offer additional specialized services designed to address specific financial needs in healthcare practices.

Medical Billing Reconciliation

Reconciling billing records with insurance and patient payments to ensure complete revenue capture. Discrepancies identified and aged claims followed up monthly.

$2,200/month

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Practice Financial Benchmarking

Comparing your practice's financial performance against industry benchmarks to identify strengths and opportunities for sustainable improvement.

$3,200