Healthcare Outsourced Accounting

While some accounting principles are the same across the board, healthcare practice business dealings are unique. Medical billing, deductibles, claims, insurance company stipulations and other aspects of your accounting require extensive knowledge on how businesses like yours operate. The healthcare industry also has its own compliance and reporting requirements, namely with HIPAA regulations.

If you choose a provider that doesn’t specifically serve healthcare clients, chances are they won’t know these nuances — and that could mean leaving money on the table or falling out of compliance.

When you outsource accounting services, you get more than one person for the job. You have an entire team at your disposal — one with experience in not only accounting but also tax and assurance work. This gives you a broad range of knowledge informing the strategic decisions to be made.

Hiring a team also means bench strength. If a practice employee who handles your books is on vacation or suddenly leaves your organization, who will do their work? And will you have access to your accounts and financial systems? With outsourced accounting services, there’s always someone ready to jump in if a team member is unavailable; you experience no interruption of service or access to funds.

Finally, outsourced accounting providers work with a wide range of businesses and organizations, including the many disciplines within healthcare. They see a variety of scenarios, challenges and goals and provide solutions for all of them. This means they can bring more ideas to the table when helping you.

In addition to the knowledge needed for your accounting work, James Moore’s finance professionals are dedicated to clients like you. We work with healthcare practices every day (and have for decades!), and we’re active members of industry groups like the Medical Group Management Association, the Healthcare Finance Management Association and the National Society of Certified Healthcare Business Consultants.

It’s a combination of accounting expertise and critical industry knowledge that you won’t often find elsewhere. And with your practice’s success at stake, it’s what you deserve.

Not at all! You’ll have a primary point of contact and a dedicated team for your engagement. And you’ll hear from us regularly, because open communication is the best way to build trust and cooperation (not to mention your business). Bench strength simply means that if someone on your team is unavailable, your work won’t be interrupted.

We know how important consistency is when it comes to your finances. So as cliché as it sounds, you’re not just a number at James Moore. (We love numbers, but not that much!)

By the time we have our first client meeting with you, we’ve already gotten started. In fact, our process begins as soon as your engagement letter is signed so we can hit the ground running!

At our first client meeting we’ll confirm the scope of services and provide timelines for accounts payable and financial statements, a share link for you to securely transmit files, etc. We’ll introduce your dedicated team members, letting you know who takes care of what responsibilities and whom to contact with questions. And we’ll review the onboarding process and determine the “go-live” date when we officially assume responsibilities.

After that, we’ll perform the work as outlined in our meeting. If any out-of-scope requests come up, we’ll indicate clearly how much it will cost before we get started so you can make that choice. We’ll also have regular meetings with you to monitor your accounting processes, accounts, cash flow and more. And most importantly, we’ll work with your internal finance people as a team — not a replacement. 

Our work can be done remotely, so there’s no need for us to be nearby. Granted, we enjoy visiting with you when possible; in-person visits give us a great vantage point on how things are going for you and helps us provide better service. But the work itself (and our communication with you) can easily happen via online meetings, phone calls, emails, secure file-sharing software and other means.