PHYSICAL THERAPY ACCOUNTING

Physical Therapy is one of the most rewarding fields, especially for people who enjoy improving other people’s quality of life. As a physical therapist, you get to help people. Whether they are in pain, recovering or healing from injury, increasing strength, or helping to manage or eliminate pain. It is a profession that can be physically demanding and require a lot of mental space for the patients that you see each day. This can make it so that when you are done seeing patients, you certainly do not want to spend the rest of your time worrying about bookkeeping, accounting, and other financial aspects of your physical therapy practice. The good news is that you can simply hire a professional healthcare accounting services provider to help you handle your practice’s accounting needs as you focus on helping your patients get better.

If you are looking for a reliable healthcare accounting firm to help you solve bookkeeping and accounting challenges in your physical therapy practice, Cooper Norman has a team full of experts that are experienced in healthcare accounting and want to help you with your business financials. We partner with physical therapists to help them keep their financial records and books of accounts up-to-date because we know that it can be easy to get behind with such a busy schedule. 

Our Services

Our job is to help physical therapists and other professionals in the healthcare sector solve accounting and other financial challenges that affect their practices. We want you to be able to spend your time and energy focusing on other areas of your practice such as the patients and your employees. Not to mention that you also want time for your home life to maintain a balanced life. Some of the services we are known for include:

  • Payroll management services- this means that each pay period we will ensure that your employees are paid the correct amount on time. We also are able to take care of taxes and benefits that need to be deducted from paychecks. 
  • Cashflow and budget analysis- keeping an up to date record of what goes in and out of the accounts to ensure that your business is in good financial standing. 
  • Tax planning and compliance services- we will prepare all of your tax documents and help you prepare year around. This way when tax season comes, you will be prepared and will not have any surprises. 
  • Business valuation services- we can evaluate your business and give you advice on changes that could benefit your business. 
  • Accounting services- we are able to do general bookkeeping. This means we track what comes in and out of the business, get payments from patients and insurance, and send out scheduled payments.
  • Financial reporting- Monthly reports will be available so you know exactly where your business financials are at each month. Along with yearly reports. 

We also offer business advisory services, and we can guide you when it comes to mergers and acquisitions. At Cooper Norman, you will have a team of experts that are able to handle any financial and accounting issues for you. 

How You Can Benefit by Hiring a Professional Physical Therapy Accounting Service

Accounting is a complex part of owning a business and can feel very overwhelming. If you decide to do it yourself, there is a good chance you will feel exhausted and that you dont have enough time and energy for your patients. Here are some of the reasons physical therapists choose to hire professional accounting services to make their lives and business run more smoothly. 

MORE ACCURATE FINANCIAL REPORTING

What is the actual monetary value of your physical therapy practice? What is the trajectory of its growth? How is its financial health? Answering these questions can help you come up with a solid business plan to accommodate future growth and make sound financial decisions to secure the future of your practice. However, without the right bookkeeping and accounting skills and software, it will be hard or even impossible for you to process accurate financial reports, meaning that you will be running your practice without adequate knowledge of its financial standing. On the other hand, by hiring a professional accounting service, you will always have accurate and up-to-date financial reports, which will help you to make objective business decisions.

ENSURE TAX COMPLIANCE

Like any other business, your physical therapy practice has some tax obligations. You have to pay quarterly taxes reflecting your practice’s net income bracket. To avoid trouble with the IRS, you will need to know what your tax obligations are and ensure that you comply. It is very beneficial for you to work with a professional physical therapy accounting service. These professionals are up-to-date with the prevailing tax laws, and working with them will ensure you that you are complying with all tax laws. 

FOCUS ON WHAT YOU LOVE DOING

Accounting, even for a small physical therapy office, can be time-consuming. It is something that you may dread at the end of the day after spending your whole day working with patients and taking away time from home. The good news is that this is not something you have to do on your own. To save yourself time, hire a professional healthcare accounting service to do all things financial for you. Working with professionals will afford you the time and space you need to look after your patients and pursue other more important things in your life.

Why Cooper Norman?

Cooper Norman stands out for a number of reasons when it comes to its competitors. Some of the reasons we are the best at what we do include:

EXPERIENCE AND EXPERTISE

Cooper Norman has been in the accounting business for more than 65 years. Over the years, we have served dozens of clients in the healthcare sector, and have extensive experience. Our reputation has enabled us to attract a team of highly trained and experienced CPAs whose expertise is above board. Therefore, whatever accounting and financial challenges your physical therapy practice might be facing, you can count on our experience and expertise to provide the most appropriate solutions for your business to be successful. 

QUALITY CUSTOMER SERVICE

At Cooper Norman, we have a lot of respect for our clients. Therefore, we have invested a lot in our customer service to ensure that any customer concerns or queries are addressed in the swiftest way possible. We are always willing to listen to our clients, understand what they need, and customize our services to meet their needs. In a nutshell, we do our best to ensure quality at all levels of service delivery. Therefore, by hiring us, you can rest assured that we will meet or even exceed your expectations.

The Bottom Line

Overall, it is apparent that if you run a physical therapy practice, it can be very beneficial for you to work with professional accountants specializing in physical therapy accounting. This will ensure you have all the time you need to serve your patients without worrying about financial issues like payroll management, tax obligations, and financial reporting, among others. If you are looking for a dependable accounting firm specializing in physical therapy accounting, we are here to help. At Cooper Norman, our team has years of experience in the industry and you can feel confident in trusting your financials with us. Please call us with any questions that you may have on how we can help you!