Medical Practice Consulting

Tax Savings and Cost Cutting Approaches:

Consulting on information capture and tax compliance matters pertaining to a group operating in multiple/satellite locations.
Professional tax planning with regard to the new tax laws on a Corporate and Personal basis.
Monitor nationwide trends in medical practice management for current comparisons.
Lease v. purchase analysis for vehicles, equipment and real estate.
Analysis of overhead sharing arrangements, Stark allocations, etc.
Computer hardware/software selection/implementation including billing, collection and practice management software.

Monitor percentage collection to total dollars billed in relation to industry averages.
Analysis on a monthly basis of collections, charges, receivables and write-offs relationships to changes in cash.
Monitor cash balances on a monthly basis by perfomring bank reconciliations and proofs of cash.
"Cash Audits" designed to uncover weaknesses in internal controls and identify operating inefficiencies.

Consulting with respect to: Sales/Mergers/Acquisitions, Physician buy-in or buy-out and business valuations.

Retirement plan design and implementation for purposes of deriving the maximum allowable benefit for the Physician.
Monitor retirement plan investment performance.
Design and implement Physician compensation arrangements and perform calculations of incentive pay on a monthly, quarterly, semi-annual or annual basis.
Estate Planning including personal financial and retirement planning and family education issues.