Healthcare - Physicians
Expertise in Serving the Medical Industry
The healthcare field has undergone significant restructuring over the past decade and continues to face changes on virtually all fronts, such as patient billing, personnel policies, insurance, and equipment costs. Healthcare professionals need sophisticated and experienced outside assistance to help them navigate through this array of issues and maintain profitability.
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 dentists throughout Southern California.
As a member of the Affiliated Healthcare Advisors, 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.
Accounting Firm Services:
At HMWC CPAs & Business Advisors, we take pride in providing a wide array of services that are specifically tailored to the healthcare industry. These include:
- 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
HMWC CPAs & Business Advisors offers certified “QuickBooks ProAdvisor” professionals. Certified ProAdvisors are specially trained QuickBooks experts who help clients with this popular small business financial software. Our Certified ProAdvisor can help you to quickly set-up a system to create invoices, pay bills, and track expenses all in one place.
- 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
- 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
Medical Practice Start-ups
- Employment and recruitment agreement consultation and document review
- Insurance contract credentialing
- Hospital staff privileges coordination
- Audit services
- Review services
- Review of policies and procedures
- Assistance in interviewing and hiring of administrative personnel
- Benchmarking salaries with our extensive database
- Business succession planning
- Retirement planning
- Insurance review
- Family financial planning
Our Healthcare – Physicians practice pleased to provide a seminar series called “H.E.L.P” for our clients. For further information click here.
Our Healthcare – Physicians practice is headed by partner Jay Wikum and manager Lisa Young.