Physician Groups, Surgery Centers, Other Healthcare Entities
We specialize in providing CFO support services to large Physician Group Practices, Ambulatory Surical Centers & Other Healthcare Entities.
Following is a list of just some of the areas that my extensive experience may be of assistance to you;
Revenue Cycle Management:
- Business check-up; Analyze key indicators to highlight areas of concern.
- Review general effectiveness of procedures used by Charge Entry, Collections & Payment Posting
- Ensure all charges and payments are being captured.
- Assist billing with proper month end close processes.
- Review Accounts Receivable aging for possible collection problems.
- Analyze monthly data and report negative trends to owners.
- Review internal controls to ensure cash is properly protected from theft.
- Assist with management of managed care contracts to ensure profitability.
- Assistance with PQRS & Meaningful use issues to ensure revenue isn’t cut.
Physician Compensation Issues:
- Prepare monthly comparative variance reports for physicians on; collections, charges, procedure counts, net income, etc.
- Assist with physician compensation issues and bonus calculations.
- Assist with physician buy sell agreements and planning for physician retirement.
Financial Reporting Issues:
- Prepare or Assist with monthly journal entries and financial statement preparation.
- Prepare & monitor budgets and forecasts.
- Review accounts payable procedures to ensure bills are paid timely, aren’t double paid and all discounts are taken advantage of.
- Assist with new software implementations; I personally have overseen implementation of accounting programs, payroll programs, practice management programs & EHR programs.
- Assist with setting up new general ledger account structure, to allow for better financial statement reporting-for example to allow reporting by office location.
- Assist with selection of credit card merchants and negotiating bank loans.
- Updating fixed asset schedules, preparing corporate & tangible tax returns.