Being a physician in private practice is a very rewarding experience – both from a patient care and financial perspective. Along with that, there come a number of administrative and financial needs. With our help, you can practice in a way that is rewarding for you, your patients and your bank account.
Running a practice of seven doctors, a few physician assistants, a handful of nurses and numerous support staff isn’t a walk through the park. Each physician works differently, meaning that the revenue coming in the door could be drastically different between each doctor. On top of it, there’s the issue of expenses – who pays for what and how much?
That’s where we step in and offer our expertise to the practice. Utilizing one of our medical practice models, we are able to allocate overhead in accordance with what seems fair to the physicians and is easy for everyone to comprehend. We produce a monthly financial statement, for the practice as a whole and for each provider separately, which is used by the physicians to monitor their personal production and determine opportunities for efficiency in costs.
Outside of the monthly financial statements, we also provide insight and analysis to doctors. Concerned about overhead costs? How am I performing compared to my colleagues and how can I bring up my personal bottom-line? Am I on track to meet my personal financial goals based on the way I’m working? These are all questions we’ve heard and have helped our clients work through. Being available throughout the year allows us to assist our clients with these queries.
Due to our involvement with the practice itself and the individual doctors, we are able to tailor tax and cash flow planning to the individual circumstances of each physician. Our year-end planning is guided to maximize benefits to each of our clients, as we look at them as both “parts of a whole” and unique individuals. No cookie cutter approaches here – we customize our advice to meet the needs and situations of our clients.
Butler and Company CPAs PC have been the accountants for Albuquerque Urology Associates since the inception of their urology group practice. They are friendly,supportive, and knowledgeable. From solo providers to larger groups, they are there for their healthcare clients, as well as demonstrating accounting skills across other industry venues. They keep abreast of current tax law via continuing education at all levels of their firm to better serve their clientele.
- Thora R. Jackson, MS, FACMPE
Administrator, Albuquerque Urology Associates