Financial and accounting support for the medical world
We rely on our medical practitioners to help us maintain good health. MayCA Accountants therefore believes in working collaboratively with health practitioners to give them extra time to spend keeping patients healthy, while we take care of their back-end financial administration.
There really is a surprising amount of financial paperwork involved in the day-to-day operations of a medical practice. We generate invoices for patients following consultations or procedures. We oversee incoming and outgoing payments, chase up debtors and manage cash flow, as well as liaising with Medicare and health insurance funds to ensure all payments are accurately made in a timely fashion. And because we know the industry inside and out, our medical clients also enjoy the peace-of-mind that comes with knowing their practice is compliant and all legal obligations are fulfilled.
Regular and accurate reporting is also crucial to the success of any doctor’s surgery. On both a monthly and quarterly basis, we’ll give an up-to-the-minute overview of their current cash balance, patient numbers, all incomings and outgoings, staff hours worked, and fees generated. This helps the practice manager to keep track of exactly where the business is at financially. In turn, the intelligence provided aids smart decision making for the benefit of the practice.
Medical practices tend to take a unique approach to the payment of non-owner doctors. It’s a niche style of payroll management that often sees doctors paid based on the fees generated from the patients seen. Fortunately, this is a system MayCA Accountants knows all too well, and we have the proven process in place to ensure this is implemented and managed seamlessly.
By using the services of MayCA Accountants, you’ll get back time to look after the interests of your patients and build the success of your practice.
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