Services for Healthcare Companies
- Preparation of Financial Statements
- Consultation on new lease accounting requirements
- Employee Benefit Plan (401k) Audits
- Assistance in Establishing New Practices
- Business Entity Selection
- Outsourced Accounting Services
- Practice Valuations
- Business Advisory Services, Including Internal Controls Analysis, Insurance and Medicare Claims Auditing
- Acquisition & Divestiture Advisory
How We Can Assist with Current Healthcare Accounting & Tax Issues
New Lease Accounting Regulations
These new lease accounting regulations could have impact on bank loan covenants as they might change the borrowing base for many loans essential to medical practices.
How to prepare: Briggs & Veselka is already working with doctors, practice administrators, (and their banks to advise them on the possible implications of these new accounting regulations to help them prepare possible revisions to existing covenants and as guidance for future loan agreements. For more information contact Kevin Lovins at email@example.com.
Cost Management for Internal Financial Functions
Patient billing, month-end closings, and reports for lenders can place burdens on your existing finance and accounting staff and impede the cash flow of your practice.
How to prepare: Briggs & Veselka’s Outsourced Accounting Services gives you budget flexibility and control when you require interim support of full back office accounting functions. For more information contact Terry Sherrill at firstname.lastname@example.org.
Recovery from Vendors
Oftentimes actual contract delivery and performance varies from the terms of a supplier contract, causing hidden losses for a medical practice; in our experience, few practices even attempt to reconcile contract non-delivery or underperformance.
How to prepare: Briggs & Veselka professionals can perform audits of actual vs. contracted performance and, depending on the terms of the contract, find cash recoveries for your practice. We can proactively examine current contract structure from a performance standpoint to advise you on how to create opportunities for recovery in future contracts. For more information contact Kevin Lovins at email@example.com.