A Stronger Medical Practice Starts With Smart Accounting Strategies
Your patients trust you to do the right thing for their health. Who can you trust to do the right thing for your practice? Physicians are often viewed as altruists, but their practices are also complex business entities that require specialized skills to grow and thrive, whether it’s a solo practice or a large, multi-disciplinary medical group.
At James Moore we understand your challenges and deliver year-round tax, accounting and business solutions, so you can focus on patient care instead of worrying about your practice. Together, we’ve got this.
What makes us different?
When it comes to accounting for medical practices, our goal is to continually improve your practice and help it run more smoothly. That means we’re constantly working to increase our knowledge and the level of service you receive. It’s a commitment to always be bettering ourselves. To go above and beyond every day. Just like you.
When you partner with us, you’ll work with a team of tax strategists and accountants for doctors who are focused on understanding your practice and finding effective strategies to help you achieve your objectives. For physicians, that includes tackling HR and technology issues, maximizing profitability and net worth, and positioning you to receive the greatest benefit possible when you’re ready to transition out of the practice.
Measurably Better
As experienced CPAs for medical professionals who help physician practices of all size reach their profit potential, we take a comprehensive approach to delivering all the services that matter to you:
- Assurance
- Accounting and bookkeeping
- Billing-based ownership and bonus plans
- Buy-sell agreements
- Coordinating practice and personal real estate strategy
- Customized bonus structures
- Customized compensation structures
- Debt management
- Entity and ownership structuring
- Financial statements
- Financial forecasting and projection
- HR Solutions
- Increasing net worth
- Increasing patient rosters
- Increasing practice profitability
- Increasing revenue
- Investing and retirement strategy
- Maximizing net income
- Maximizing practice value
- Mergers & Acquisitions
- Practice transitions
- Retirement planning
- Revenue cycle analysis and enhancement
- Tax planning, compliance and strategy
- Technology selection and implementation
Case Study: Revenue Cycle Enhancement
for Physician Practices
The lead physician in a large group practice was concerned that her income was declining, especially when compared with salaries in other industries. The practice hired James Moore for revenue cycle enhancement services — a process improvement solution that examines the administrative and clerical functions that bill and collect the revenue for a medical practice.
Our healthcare CPAs analyzed several aspects of the practice's revenue cycle including patient scheduling, billing, clinical documentation, collections and other procedures. We then outlined and implemented improvements that reduced the amount of money left on the table by gaps in several processes. The results were dramatic; the practice increased profits by 900%.
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Jay Hutto, CPA, ABV, CFF, CVA
Partner
As a CPA in the state of Florida, Jay has more than 30 years of experience providing personalized accounting services including auditing and tax services, business consulting, business valuations and litigation support. While he has worked with clients representing the real estate, manufacturing, professional services, dealership and retail industries, he has significant experience addressing issues and providing solutions for healthcare-related entities. As such, Jay leads the firm’s Healthcare Segment Team.
Jay helps his clients maximize revenue and minimize expenses, and he is dedicated to providing them peace of mind that they’re getting the best possible tax savings. His guidance helped one client avoid a $1,000,000 tax liability with a cost segregation study, and he helped another client eliminate a $50,000 IRS tax penalty. He also takes a proactive approach to revenue enhancement, cost controls, applying best practices, and emphasizing the importance of having the right policies and procedures already in place (instead of as a reactive remedy) to best facilitate business growth.
Jay also specializes in preparing business valuations and litigation support services and has earned several accreditations including the Accredited in Business Valuation (ABV), Certified in Financial Forensics (CFF) and Certified Valuation Analyst (CVA) designations. Litigation support services include related party transactions, fraud, child support, divorce and dispute resolution.
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