Owners Of Well-managed Practices Continually Embrace Change To Enhance Patient Care And Practice Profitability.
Using my knowledge as a Fellow in the Health care Financial Management Association; over six years experience turning a financially troubled medical
center into a financially sound hospital; over seventeen years as the CPA for over eight veterinary hospitals and being a member of the Veterinary Hospital Management Association, I am in a unique position to help you
increase the profitability of your practice.
I have been successful in helping hospitals by adapting accounting, benchmarking and pricing strategies that I have learned through the years, to a veterinary practice.
Recently our firm was chosen by the MDTAXES.com network to be the MDTAXES.com Network affiliate for the Inland Empire area. MDTAXES.com is a network of CPAs throughout
the country that specialize in the tax planning and preparation for young health care professionals. We feel very proud to have been chosen.
Areas Where I can help increase patient care & profitability.
- Developing a comprehensive accounting system.
- Charge system to help assure all charges and payments are correctly recorded.
- Track income by procedures to help evaluate sources of income and benchmark stats. This is important information to correctly raise fees.
Evaluate pricing strategies
- To receive proper compensation for your knowledge, experience, and training, you need to set aside old ideas of setting fees and charge for services.
- To some, the lure of product sales overshadows the importance of medical services. To some, sale of products seem easier then educating and presenting the importance of their own expertise
Help evaluate the profitability of complementary medicine
It is estimated, by some experts, that within two years 14% of the study participants plan to offer herbal remedies.
- 12% plan to offer acupuncture
- 6% homeopathy and chiropractic.
- 78% of well-managed practices offer behaviorial counseling.
Streamline business management
- Helping the doctor focus on patient care and limit management responsibilities to business decisions that foster hospital growth and improve profitability.
- Empower the staff to implement responsibility for daily operations.
- Work with managers and key office staff to take care of non medical tasks.
Help make the investment and implementation of new technology profitable.
Help evaluate the profitability and return on investment on high tech equipment
- Laser surgery
- Digital imagery
- Computer systems
Bench marking and practice profitability
- Spot trends that improve profitability and look for expenses that are getting out of hand
- Help train front office staff on how to collect at time of service.
- Help prepare employee policy and manuals.
- Advise on hiring practices and work with legal council on terminations.
- Help balance the need of clients and staff members.
Tax planning and strategies.
- Form of organization
- Making your business less audit prone
- Helping with tax saving ideas
- Tax modeling and planning.
Pension and profit sharing plan ideas and comparisons
As veterinary medicine is moving more toward human medicine in approach and technology it is inevitable that the business systems will need to be improved.
Using someone who can bring tax, accounting and practice management together seems like the
approach of the future. Please give us a call and let me show you how we can be of help.
Fraud & embezzlement
Adapted from "Sniffing out the Latest Trends"
by Cynthia R. Wutchiett, CPA