We will take care of business logistics and financial strategies so that you can take care of everyone else.
Accounting for Business
We leave the ingenuity to you, and you can leave the taxes, accounting and advising to us.
Unpredictability comes with agriculture-related businesses. We can remove some variables from the financial aspect of the farming business.
With over 50 years of service to the construction industry, our accountants have specific knowledge to benefit your business.
Make an Appointment
Accountants for Doctors
In the ever-changing landscape of the healthcare industry, as a doctor or any other type of practitioner, it’s important to have people you can trust with your accounting responsibilities. Industry reform, a multitude of regulations, and a complex payment model are just some of the reasons having a savvy partner focused on your books makes sense. Cooper Norman partners with practice owners and operators, helping them meet the challenges of running a successful office.
Whether you have been in business for years or just recently opened a medical practice, assisted living facility, home health care center, or laboratory we have the experience needed to provide comprehensive healthcare accounting services, so you can focus on your patients or residents. We will ensure that the accounting for your practice is easy and done correctly, so that you can spend all of your time and efforts on making sure that your patients or residents are receiving proper care. As a doctor, it is important that you are able to truly focus on the experience you are giving to those that come in contact with your business.
If you need help with the financial management of your healthcare business, we would be happy to share our expertise on all topics from the Health Care Reform Act to tax advantages for practitioners. Our team has years of experience to help you through the complicated decisions and components that go into the finances that all doctors have to navigate when running their own practice. Whether you need to design a physician compensation plan or set up an accurate, automated payroll system, you’ve come to the right place. If you have 3 employees or over a hundred, we are able to ensure that they are all getting compensated accurately and on time for each paycheck. Billings and collections, expense management, and valuations of your practice are just a few of the services we can provide to keep your practice on the right course. Getting paid for services that you have provided can prove to be difficult and take up a significant amount of your time. We have the resources to reach out for what is owed to the business.
What Accountants for Doctors Do
An accountant that works for doctors and in the medical field can help you move beyond keeping up with daily billing and collections. Finances are complicated and take consistent attention to have things done right and not get behind on them. Cooper Norman hires experienced, talented, and dedicated accountants who can complete whatever accounting tasks you may need. With our help, you can focus on growing your business and providing stellar healthcare to patients. If you are in the healthcare industry, we know that your priority lies in helping people, and we want you to be able to do just that.
So, what does an accountant for a doctor’s office do? We can track your financials, provide month-end reporting, offer virtual CFO services, set up your bank accounts, and help you strategize the best way to accomplish your future goals. That could include anything from maximizing revenue to valuing the practice to helping you prepare for new endeavors such as retirement. No matter what your accounting needs are in your practice, we have the tools, strategies, and experience that is necessary to help your practice be successful.
Here is an overview of the services we offer current clients who are needing an accountant for a doctor:
- Business advisory services.
As part of our concierge business advisory services, we often tailor comprehensive solutions for individual practices. There is no “one solution fits all” when it comes to a strategy for medical practice, but our team will work with you to help you find the best solution for yours. This may include preparing to sell the practice or acquire additional health care practices under your banner.
- Tax strategies, planning, and compliance.
Tax planning and compliance are complex topics best left to the experts. Cooper Norman provides technical support and hands-on assistance with the tasks needed to comply with tax law and maximize tax-saving strategies. We have years of experience and knowledge about the ins and outs of taxes in healthcare.
- Valuation services.
Are you thinking about retiring or selling your practice to pursue other endeavors? Our team can provide a valuation of your practice. We go about this methodically, conducting essential research to establish a fair market value (FMV), informing you of the compliance challenges, and assisting with all aspects of the sales process. This allows you to know exactly what you have and what to expect during the process of handing your business off to another individual. We will help relieve the stress that often comes with the big decision of selling your medical practice.
- Mergers and acquisitions.
Do you plan to grow your business by acquiring other practices? If so, it’s important to have the financial expertise required to work through the types of financial transactions involved in the consolidation of companies. We can help you tender offers, manage acquisitions and make strategic decisions to operate more efficiently after adding new assets to your portfolio. It can be a complicated process to merge finances after purchasing another practice, we are here to help you through it and make it a smooth transition.
- Accounting services.
Healthcare accounting processes start at the transaction level and include month-end reporting, variance analysis, and financial planning to grow the business. We offer the training you need on easy-to-use enterprise-level products such as QuickBooks. It’s important to choose the right software to meet the current and future needs of your practice. We are able to help with learning new software and getting the most out of the software that you are using.
- Payroll services.
Payroll calculations include compensation, bonus, and benefits. Payroll often eats up a lot of valuable time. You can trust Cooper Norman with your bookkeeping tasks to ensure that your employees are being compensated correctly and getting their paychecks on time. We also provide outsourced controller services to streamline your accounting processes and improve the processing accuracy of your payroll.
- Personnel management services.
The people you hire to work behind the desk, treat your patients and keep your book’s matter. In fact, they are often the most important resources in your practice. If you need assistance setting up an equitable personnel management program, we can help you improve the relationship between employees and managers. Those that work for you and the work relationships are important and we want to support you in having a healthy work environment.
How Having an Accountant for Doctors Is Advantageous
Having a dedicated accountant, with experience in the medical industry, comes with tangible benefits. You need a seasoned professional to help you determine patient eligibility and copays. We can also conduct coding audits to ensure that payers receive complete and accurate information. These efforts help avoid delays and shorten the time between treatment and payment. All of these steps will help to ensure that you are getting proper compensation for the services provided.
From claims tracking to following through on denied claims, we can help you manage payments more efficiently.
Who Needs a Healthcare Accountant?
If you own or operate a physician, chiropractor, aesthetician, or other medical practice, it’s time for you to leave your accounting to the professionals. Having an accountant, who is experienced in working for doctors, gives you access to CPAs and other professionals focused on the medical industry and gives you the freedom to spend time on more immediate things within your practice.
WHY YOU SHOULD CHOOSE COOPER NORMAN
Those who manage practices are often doctors or physician assistants too. When the doctors and providers spend enormous energy managing the finances of their business, it takes away from their time with patients, decreases billable hours, and can quickly burn out doctors and other providers. There is nothing more important than getting people the help that they need, so the doctors should not have to spend all of their time trying to figure out the accounting processes. We want the physicians that we work with to spend their time doing what they enjoy most which is being with their patients.
Cooper Norman specializes in providing accounting services for medical practices and facilities. We would be happy to share our roster of professionals, with backgrounds in bookkeeping, tax planning, cash flow management, payroll, and accounting. Our team members are well versed in the healthcare industry and the services they provide can help you maintain a profitable, smoothly operating office.
As an accounting firm that has worked beside doctors and other practitioners for many years, Cooper Norman is dedicated to staying on top of trends and regulations that impact your bottom line. We do our part to follow the changes happening within the industry so we can continue to give top of the line services.
Contact us today to set up a consultation to discuss your concerns, and questions and find out how our services can help set up your practice for success when it comes to finances.