Comprehensive Financial Solutions for Medical Practices
we get it.
You embarked on a career in healthcare to make a difference in people's lives, not to get bogged down by the financial aspects of your practice. Whether running a bustling med spa, a dermatology clinic, plastic surgery facility, or a veterinary practice, you need more time for your patients and less spent worrying about your taxes, payroll and bookkeeping. That's where we come in, offering advice and best practices and ensuring your practice thrives with simplified and efficient financial management. This way, you can focus on what you do best—providing exceptional care.
what makes us different?
At Account Sense, we understand the unique challenges those in medical professions face. With extensive experience in medical practice management and an intimate knowledge of compliance requirements like HIPAA and the Electronic Medical Records Mandate, we can make certain that you're following the rules and protecting your – and your patients’ – financial data.
Real expertise comes from being in the arena and getting your hands dirty. Our team members have hands-on experience providing operational support and advisory services across various specialties. This battle-tested approach means we're not just advisors—we're partners who grasp the frustrating – and often relentless – challenges you encounter. We're here to provide the bold, practical solutions your practice needs to thrive.
our comprehensive services
- Complex Payroll Management: We provide accurate and efficient payroll and benefits processing tailored to medical practices, even those that have locations in multiple states.
- 401k Coordination: Our team seamlessly works with your trustees and TPAs to manage retirement plans.
- Incentive Programs: We can develop provider incentives to boost productivity and increase satisfaction.
- Practice Management Consulting: Our team offers expert advice on optimizing your operational efficiency.
- Cash Flow and Budgeting: We understand that practices live and die on cash flow and provide detailed financial plans to maintain a healthy bottom line.
- Entity Selection: Starting a new practice? We can help you choose the best legal structure for where you are today and plan to be tomorrow.
- Equipment Purchases: Not sure whether to finance new devices or buy them outright? We can guide you to the best decision based on your financial situation.
- Bookkeeping and Financial Statements: We will provide you with comprehensive bookkeeping and financial statement preparation, so you always have the information you need to make informed decisions.
- Tax Planning and Compliance: Tax planning is a year-round endeavor, and we are always looking out for you by recommending strategies to minimize liabilities and ensure compliance.
- Insurance Claim Tracking: We can recommend best practices for efficiently monitoring and matching insurance claims.
- Contract Negotiation: Our work with medical practices gives us knowledge to help you negotiate locum tenens and other contracts.
- Retail Tax Treatment: We can offer advice and specialized tax services for practices that sell retail products.
- Comprehensive Tax Planning: Keeping your specific practice situation in mind, we develop specialized tax strategies to optimize savings.
- IRS Representation: Have you received a letter from the IRS? We make it less scary by being by your side for any IRS audits and helping resolve any disputes.
- Tax-Efficient Retirement Planning: For practice owners, we can work with your financial planners to help plan for a tax-efficient retirement.
- HIPAA Compliance Audits: We are there to help ensure your financial reporting is in full compliance with patient privacy regulations.
- Medicare and Medicaid Consulting: Our work with other medical practices gives us knowledge to help navigate complex reimbursement processes with ease.
- Fraud Prevention: Even the best employees can be tempted. We can conduct assessments and help you set up internal controls to safeguard your practice.