Healthcare Practices

Excellent Patient Care Starts With a Healthy Practice

Perhaps the most complex industry in the world, healthcare is ever changing and evolving. From the nature of human beings struggling with pain, to managing tightening regulations and insurance reimbursement, practice management has never been so challenging. As a physician, dentist, chiropractor, home health agency, or other medical provider, numbers are more than just a patient’s ID number, lab results, or date of birth. Numbers are the life-blood of your practice. To run a truly successful healthcare business, you need to understand the financials behind excellent patient care.

Whether you yourself are the provider, the clinic manager, or a billing and insurance claims specialist, we understand the symptoms you are facing in your practice:

Managing cash flow, billing, and reimbursement cycles
Accounting for contracted rates, allowables, co-pays, and write-offs
Covering the costs of supplies, inventory, and expensive equipment
Running accurate and fair pension and profit sharing plans in your medical group
Balancing the expense ratio to professional profit in the practice
Evaluating opportunities for potential mergers, acquisitions, or the sale of your practice

Lastly, the challenges facing the industry, ever declining reimbursement and navigating how complex changes and regulations have changed your practice.

Looking for a Second Opinion?

There are many medical, dental, and chiropractic accounting firms out there – chances are you have been seeing one of these accounting firms for many years. But with such significant changes in healthcare lately, how can you be sure your bookkeeping, accounting and payroll services are getting the best care?

As in healthcare, education is key. Patients who understand their diagnosis and treatment are more compliant and typically see better outcomes. Wattax – provides easy to comprehend workshops and is a great way to get a second opinion, helping you see the best outcomes in your practice.

An Accurate Diagnosis is Key

Without a history and physical, coming to an accurate diagnosis and plan of care is impossible. At Wattax we follow the same philosophy. We offer complimentary consultations, where you have the chance to tell us more about your financial challenges and get to know our process and systems. We’ll review things like your accounting and bookkeeping and give you our recommendations for how to foster healthy financials in your small healthcare practice.