Running a successful healthcare practice requires planning and hard work along with diligent attention to the bottom line. With an industry-specific skill set, Trinity Accounting Group offers a full range of services and programs designed to help both healthcare practices and providers thrive.
Medical Practice Services
• Assessment of office structure, workflow and internal controls: Proper organizational structure improves the efficiency of staff, keeps key employees from being overworked, identifies underused staff, and protects both assets and information from theft or misuse.
• Compensation review, bonus package evaluation and implementation for owners and providers: Effective distribution of earnings and profits rewards contributions to the practice and minimizes related tax liability.
• Entity organization: Assessment for optimal control, minimal liability exposure, and maximization of tax benefits for the practice
• Transfer of interest in healthcare practices for both buyers and sellers of medical practices: Assistance with negotiation, valuation, tax consequences and contract development
• Improving financial feedback through benchmarking and budgeting
• Preparation of audited and reviewed financial statements for regulatory or lending entities
• Implementation of best accounting practices in the medical business office through controls audit and procedures manuals
• Analysis of capital expenditures and debt financing
• Tax advice, planning, and compliance regarding common issues faced by healthcare practices and providers