How Management Services Organizations Benefit from Outsourcing Accounting Services
Management Service Organizations provide administrative and management services to healthcare providers to ensure regulatory compliance.
When you’re running a business and trying to juggle all the ins and outs of accounting for medical practices it can be overwhelming and leave money on the table. With our best-in-class healthcare accounting, you’ll have peace of mind that your company is using its cash flow wisely and making the most of financial opportunities.
We want to help you grow your healthcare practice. As your practice expands, you shouldn’t be caught off guard by tax and accounting inefficiencies. When you make use of our outsourced healthcare financial services, you will have an expert guiding you and doing the work that you probably don’t love!
You need an experienced healthcare accountant who can respond to your needs quickly.
As a financial advisor, I have referred clients to Fusion CPA / Trevor knowing they are working with a team that is competent, knowledgeable and detail-oriented. I love that they operate from a consultative approach taking the client's whole business picture into account and not just focusing on a one-time tax return.
Angela M.
You’ll know you have one or more first-class healthcare accountants doing all they can to save your business money and stay compliant. Using our three phases for business optimization should be all you need to grow the most profits possible in your chosen healthcare space.
Healthcare finance services are crucial to managing your healthcare business investments. They can help you reach short-term and long-term investment goals. Their advice can help you to gain confidence regardless of the market conditions. The solutions they offer show you how to balance risk and return while investing with confidence.
We can do an expert revenue analysis to identify revenue leaks.
Revenue cycle management includes:
The bigger your healthcare organization is, the more comprehensive your software needs to be to handle the scale of your transactions. We will work with you to help you find one that reduces your risk by automating processes such as inventory management, accounts receivable, and vendor management.
Our software integration methods take your current financial situation and future goals into consideration. Any business can benefit from cloud accounting software as it gives your team an up-to-date view of the health of the business. In healthcare, accurate accounting data is paramount to your success as it prevents costly errors and our accountants can use the data to determine where you can focus your spending.
Our healthcare CPAs are passionate about technology and we can help you choose, integrate and optimize the best solutions for your needs. We’ve helped companies integrate KPIs and process tracking tools to help them get clarity on the detail in their company and to ensure that all team members are clear on what they need to do to reach their goals.
Utilizing a professional CPA’s medical accounting knowledge and experience can help ensure your business has your accounting needs met correctly and successfully.
Access to dedicated healthcare CPAs, who understand the medical industry’s ins and outs, can help create a highly tailored answer to your accounting requirements.
Join our client journey without the commitment of an in-house accountant, tax or finance team!
Your primary concern is the health of your patients. In an airplane emergency, you are encouraged to put on your oxygen mask first, and you can then help others. Similarly, it is best to focus on the health of your business before you care for the health of your patients.
This holds if you provide pharmaceutical solutions, direct patient care, insurance, or medical device technology. It would help if you had a healthcare finance manager and analyst to support your operational, investment, and financial goals. These individuals should understand the ins and outs of your business. They will be the ones standing beside you, checking the economic pulse of your business and providing recommendations to keep your organization healthy.
Healthcare finance services are there to advise you when your organization needs access to capital. Having adequate liquidity puts your business in a position for sustained success, and access to liquidity minimizes the impact of fluctuating interest rates. Healthcare finance services can provide you with expert advice on debt capital markets, loan syndications, foreign exchange, and derivatives.
Your healthcare business needs credit to meet goals and cover operating expenses. Medical equipment, IT, inventory, vendor payments, maintenance, and mergers and acquisitions all require some level of credit. Working with a healthcare finance analyst can help you improve access to credit.
As your healthcare business evolves, so do the types of payments you accept. In response, you need healthcare financial services, including a payment system that improves the medical billing process while enhancing a patient’s experience.
Your healthcare billing process should allow you to collect more payments as quickly as possible. Manual processes should be automated, and it should also be easy for you to issue refunds to patients when they need them.
You will be dealing with countless medical billing transactions. Your billing process and payment process should give you the flexibility and versatility needed to manage every billing transaction
COVID-19 has had an extraordinary impact on the healthcare industry and payments. Also, patient behavior has changed. Many are opting for telehealth and touchless check-in. They want their payments to be touchless, and they want the entire experience to feel safe while not impacting the level of care they receive. Healthcare finance services can help healthcare businesses adjust to this new environment quickly and conscientiously.
People are always going to need healthcare. Because of this high demand, the number of healthcare businesses is constantly growing. It can be challenging for small to medium-sized healthcare businesses to compete against more extensive and more established organizations. They do not always have the resources to hire in-house staff to help with accounting, bookkeeping, financial planning, and account management.
Management Service Organizations provide administrative and management services to healthcare providers to ensure regulatory compliance.
Tax breaks for healthcare workers allow you to claim for work-related expenses. Knowing what qualifies as work expenses is the tricky part.
Ranging from fast-evolving government regulations affecting the operations of medical facilities to a demand for technological innovations that can alleviate both operational and administrative inadequacies, the healthcare industry faces a number of major challenges.