Healthcare Practices
Healthcare revenue is complicated. Insurance payments, patient portions, and adjustments require careful reconciliation. We verify every dollar you earn gets collected.
The Revenue Puzzle
You provide a service. You bill an amount. Insurance decides what they will actually pay. The patient owes a co-pay or deductible portion. Adjustments and write-offs get applied. By the time money lands in the bank, the connection to the original service can be hard to trace.
Checking the bank balance does not tell you the full story. You need to reconcile every payment back to the original claim. This reveals what was billed, what was paid, what was adjusted, and what remains outstanding. Without this step, you cannot know your true collection rate or identify problems with specific payers.
Payment Verification
Payment Verification
We match deposits to explanation of benefits and verify that posted payments in your practice management software match the bank. Discrepancies get caught before they turn into billing headaches or lost revenue.
Collection Tracking
Collection Tracking
Claims get monitored by age and payer. We identify which insurance companies pay slowly, which ones deny frequently, and where your receivables are getting stuck. This helps you follow up before claims become uncollectible.
Oversight and Controls
In many practices, one person handles scheduling, billing, and deposits. This is efficient but creates risk. Mistakes can go unnoticed for months. Small errors compound. Occasionally, something worse happens. An external review provides the checks that protect your revenue.
We serve as an independent verification layer. We review deposits, check expense patterns, and confirm that the numbers in your software match reality. This separation of duties catches errors early and provides transparency for the entire practice.
Error Correction
Error Correction
Misapplied patient payments. Insurance checks that never got posted. Co-pays that fell through the cracks. We catch these problems before they turn into write-offs, patient billing disputes, or uncomfortable conversations with staff.
Expense Monitoring
Expense Monitoring
Supplies, equipment maintenance, lab costs, and vendor relationships need regular review. We track these expenses relative to revenue and flag unusual patterns before they erode your margins.
Payroll and Provider Pay
Healthcare practices have unique payroll complexity. You have clinical staff and administrative staff. Some are hourly, some are salaried. Providers may be compensated based on production, collections, or a combination. Getting all of this right every pay period takes time and precision.
If you have associates or work in a group practice, fair compensation depends on accurate tracking. Production by provider needs to tie to collections. Bonus calculations need to reflect actual performance. We handle the math so the numbers are clear and disagreements are avoided.
Staff Payroll
Staff Payroll
Weekly or biweekly processing for your team. Overtime calculations for hourly employees. Tax withholdings and deposits handled correctly and on time. Full compliance with Massachusetts payroll requirements.
Production Tracking
Production Tracking
For practices with multiple providers, we track collections at the individual level. This supports percentage-based compensation, performance bonuses, and fair partnership distributions based on real data.
Focus on Patients
Clean financial records give you the information you need to make decisions. You can see profitability by service line. You can plan equipment purchases with confidence. You know exactly where the practice stands financially, which lets you focus your energy on patient care.
The stress of keeping up with the books goes away. Insurance reconciliation happens monthly. Payroll runs without eating your evenings. Your accountant receives organized records at tax time. You stop worrying about the back office and concentrate on what brought you into healthcare.
Growth Planning
Growth Planning
Whether you are adding a new provider, opening a second location, or investing in equipment, you have current financials to support the decision. Growth becomes a calculated step forward instead of a hopeful leap.
Tax Readiness
Tax Readiness
Monthly bookkeeping means your records are always current. When tax time arrives, everything is organized and your CPA has what they need. No more scrambling to reconstruct the year in March.
The Merrimack Valley's Trusted Accounting Partner
The Next Step:
A 15-Minute Call
Tell us about your business and what you're dealing with. We'll listen, ask a few questions, and give you a straightforward quote.