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We’re attuned to the unique financial needs of medical practices and outpatient facilities
Each member of our team of highly credentialed professionals has dedicated his or her career to serving the medical community. This unique experience is an asset, and the team’s goal is to position your practice for long-term success.
INDUSTRY SPECIFIC
Medical practices face a variety of changing regulations, and compliance takes both time and resources. Our knowledge of HIPAA regulations, incentive reimbursement and ACO initiatives, malpractice insurance and other coverage, and pending healthcare reform activities can make compliance more efficient.
WIDE RANGE OF CLIENTS
On an ongoing basis, we serve highly diverse single and multispecialty medical practices across the nation, including:
Ambulatory surgi-centers
Dental practices
Hospitals and hospital physician organizations
Independent practice associations
Outpatient facilities (imaging centers, IMRT centers, cath labs)
Physician practices
Specialty pharmacies
THOUGHT LEADERS
Because we have cultivated deep knowledge in the medical industry, our financial, tax, assurance, and business advisors are sought after contributors to national and regional publications and keynote speakers for industry associations, events, and industry groups including:
American College of Medical Practice Executives
Connecticut Medical Group Management Association
Connecticut State Medical Society
Healthcare Financial Management Association
Medical Group Management Association
Medical Society of New Jersey
New Jersey Association of Ambulatory Surgery Center
New Jersey Medical Group Management Association
Professional Association of Health Care Office Management
Specialized services for medical practices
We take a holistic view of your practice and its business goals. As part of this, we integrate firm capabilities in audit, accounting, tax, and advisory services as needed to address financial operations review, practice management challenges, fee and reimbursement structuring, and plans for growth through private equity and other transactions. In addition, we provide a wide range of private client services to manage your wealth and help you transition your business at retirement.
EFFICIENCY IMPROVEMENT
Working as trusted consultants, we negotiate fee schedules with payers, perform managed care contract reviews, examine internal controls, and make recommendations to reduce overhead and maximize fees. We also provide strategic guidance for back-office staff in billing and coding as well as accounting, tax, and bookkeeping issues.
BUSINESS DEVELOPMENT RECOMMENDATIONS
Medical practices are small businesses and small businesses must remain entrepreneurial. We help physician, dental, and emerging medical practices as well as hospitals identify, develop, and implement ancillary service offers that can build revenue and strengthen profit streams.
ADDRESSING YOUR BUSINESS AND PERSONAL WEALTH GOALS
Managing personal wealth is typically inextricably tied to managing your practice. We provide extensive services for you and your family as you manage your assets and the personal wealth you may have amassed as a medical professional. Our services include:
Business and investment management
Buy/sell agreements
Financial planning and wealth preservation
Insurance
Practice valuations
Succession planning
Tax planning, preparation, and compliance
Trusts and estates
Tax Planning for Medical Practitioners: Taking Advantage of the Home Mortgage Interest Deduction
Scott Miller
CPA, Partner - Medical Practices Industry Leader
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