Healthcare - Physicians
Services and resources you need to manage your medical practice well.
We get it. We work with nearly 200 medical practices, so we understand the nuances and challenges you face not just owning a business, but owning a medical practice. Just as there are medical specialists, you need a CPA specialist – someone who brings to the table accounting and tax expertise that is precisely what you and your practice need. HMWC fills this role – our practice leaders specialize in the healthcare industry, and focus on it almost exclusively.
Call us today so we can connect you with our top physician practice partners to consult with you and discover ways we can work together so your practice excels and grows.
HMWC CPAs & Business Advisors specializes in business strategies for healthcare professionals. We offer a wide range of services, including sophisticated techniques to help your practice improve productivity, reduce costs, and maximize reimbursement. Our clients include primary care physicians, specialists and medical groups throughout Southern California.
As a member of the Health Care Administrators Association, we are continually up-to-date on the issues facing the healthcare industry and have access to the Association’s resources to develop solutions to our clients’ challenges. Our active membership in the Medical Group Management Association provides access to current medical practice data, as well as ongoing professional education.
Client Accounting Services
- Financial statement preparation
- Accounts payable processing
- Payroll assistance
- Cash reconciliation and cash flow analysis
- Budget and comparative statements
- Internal control evaluation
- Income distribution formula review and management
- Emergency bookkeeper and finance director coverage
- Management letters
- Interim financial information
- Proforma financial information
- Evaluation and design of internal accounting systems
- Strategic review — balance tax advantage with unique medical group operating dynamics
- All tax return services (income, employment, property, sales and excise)
- Practice sales and purchases
- Accounts receivable analysis
- Benchmarking analysis
- Billing and collection procedure review
- General consulting on billing options (internal vs. outside contract)
- Evaluation of billing department effectiveness
- Procedure analysis and review
HMWC specializes in the healthcare industry. Our highly qualified credentialing specialist has over 18 years’ experience and has honed an efficient, effective process.
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- Office set-up
- Interviewing and hiring personnel
- Long-term operational support (consulting as needed)
- Regular attendance at physician meetings (or as needed)
- Emergency administrative coverage
- Board retreat coordination or participation
- Compensation development and maintenance
Medical Practice Start-ups
- Employment and recruitment agreement consultation and document review
- Insurance contract credentialing
- Hospital staff privileges coordination
- Business succession planning
- Retirement planning
- Insurance review
- Family financial planning
Steve Williams, CPA
Jay Wikum, CPA, CMPE