OPERATE MORE EFFICIENTLY
Hospital-based physician groups, including emergency medicine and radiology, rely on our Healthcare Team to serve as their full-time administrative staff — from CFO to human resources to marketing. We manage the financial, operational and organizational needs of your practice so you can focus on what matters most: your patients and their well-being.
As your administrative staff, we:
- Meet with outside billing companies on a monthly basis to review billing reports
- Pay accounts payable bills from vendors
- Review physician CME and other expense reimbursements to ensure tax and policy compliance
- Process payroll
- Manage and monitor fringe benefit plans
- Perform all bookkeeping functions, including general ledger preparation, trial balance preparation, bank reconciliations, cash flow maintenance, etc.
- Prepare for and attend quarterly partner meetings, including actual-to-budget and other financial reports
- Prepare and monitor budgets
- Budget negotiations with hospital
- Maintain personnel files
- Review managed care contracts
- Review and negotiate financial clauses in hospital contracts
- Prepare offer letters, provide aid with employment contracts and assist with recruitment
- Prepare compiled financial statements
- Conduct tax planning for fiscal year end
- Coordinate filing of Form 5500 for retirement plans each year
- Prepare federal and state corporate income tax returns
- Prepare annual report for Massachusetts
- Review quarterly payroll returns
- Prepare annual Massachusetts use tax returns
- Prepare quarterly income tax projections for partners and communication with their independent accounts regarding same.
To learn more about how we can help, contact one of our healthcare partners at 617-227-6161.