Consulting and Accounting Services for Healthcare Practices

hospitalIllustraiton

Practical Practice Management Helps You Focus On Patient Care.

As a physician running an independent practice, specialized clinic, or medical group, you need assistance running your practice's financial side. From small to a large practice group, practice management support will allow you to focus on caring for patients while your advisory team keeps the business side running smoothly. Engaging industry expertise will help you make fact-based decisions for every life stage of your practice.

What Should You Be Focused On?

graphUpRight

Grow Your Practice's Profitability

  • Assess compensation formulas, costs, and cash flow to determine performance and profitability goals
  • Enhance top-line revenue by analyzing payor and insurance company contracts and fee schedules
  • Develop an income allocation model to reward each physician and fairly allocate overhead
speedyClock

Streamline the Business Side

  • Utilize comprehensive accounting, tax, and business consulting services provided by industry-specific experts
  • Outsource your back-office functions to provide scalability as well as cost and time savings
  • Stay compliant with baseline audits and regulatory compliance assistance
SpecialisedServices

Specialized Industry Services

Business professionals need easy access to information to make timely decisions. SVA has what you need, when you need it. Choose a topic below or just contact us directly. Our expertise is ready anytime you need it.

Compensate physicians for the management of a hospital department or service line by establishing a co-management arrangement. Improve the hospital's quality and operational effectiveness while developing a more loyal and cohesive relationship with physicians. Our clinical co-management arrangement services include:

  • Aligning the interests of hospitals and physicians
  • Facilitating collaboration to improve accountability and lower costs
  • Developing joint metrics
  • Guiding the negotiation process

In today's economic and healthcare environment, hospitals recognize that a joint-ventured Ambulatory Surgical Center (ASC) with physicians is a key business strategy. Physician-hospital joint ventures can create more flexibility for the physician owners regarding clinical care, equipment, staffing, and other important aspects of treating patients. Hospitals benefit from a more efficient and cost-effective center when the physicians are acting and thinking like owners.

Physicians and hospitals approach these ventures from unique perspectives, both having their own objectives. SVA's healthcare professionals have the necessary expertise to help create a successful physician-hospital joint venture with services including:

  • Financial consultation during negotiations
  • Value determination
  • Governance compliance review
  • Reimbursement analysis
  • Entity structuring

SVA's healthcare professionals work diligently to remain on the forefront of accounting and tax law changes affecting your practice. Our team closely monitors the new and evolving policies to provide you with practical, proven solutions and strategic planning for the business scenarios you face. SVA offers a full line of services including:

  • Tax planning and consulting
  • Income tax return preparation
  • Corporate and partnership tax returns
  • Individual and children trust planning
  • Estate tax planning

You have finished school and are ready to start your practice, or you work for an existing practice and are prepared to branch out on your own. Before you get started, there are decisions to make that will truly shape your practice path. We will work closely with you to develop the right plan and provide continuous support throughout the process.

You've worked hard to build your practice. When it's time to put a dollar value on your practice, you need a valuation from experienced analysts who understand business as well as the unique characteristics that contribute to the value of a healthcare practice. Our healthcare valuation experts understand healthcare operations as well as the intangible variables that add to the complexity of a practice valuation.

Handling all your payroll, tax preparation, and bookkeeping needs in-house requires staff who are experienced in these functions, as well as the continual updating of your accounting software. These are time-consuming tasks which can be easily outsourced to an experienced provider. You can outsource as much or as little of the work and ensure there are adequate internal controls to avoid any risk of having the same people perform multiple duties.

Learn more about how outsourced accounting can help!

To effectively meet our clients' needs, SVA's team of experts has developed customized services specifically for physicians. Our services are designed to streamline your practice's business side by providing comprehensive accounting, tax, and business consulting services. Our team brings innovative tactics in practice management, business consulting, and technology to help you run cost-effective and efficient offices. Together it culminates in better patient care, smoother running practices, and a healthier bottom line. Our experts can help you with:

  • Bookkeeping and payroll services
  • Budgets, projections, and financial statement analysis
  • Compensation formulas and benefit analysis
  • Cost control and profitability review
  • Evaluation of contracts and fees
  • Benchmarking to local peer groups
  • Financial reporting analysis
  • Trust and estate tax planning

By purchasing an existing practice, you are making money from day one. You have a staff up and ready to go, a client base, and a reputation in the community. Our experts can assist you with:

  • Practice analysis and valuation
  • Tax issues in making an offer on the practice
  • Financing the purchase of a practice
  • Consultation regarding offer terms

Whether you are reaching the point of retirement or are transitioning to another stage in your career, we will assist you on your path to success and peace of mind. From practice valuation to consultation regarding contract terms, we ensure that your personal financial goals and objectives remain our number one priority as we offer full and professional assistance along the journey. To get top dollar for your practice, you need to ensure it is at maximum profitability. SVA can help you determine that by evaluating a few key areas including:

  • How does your office benchmark against peer best practices?
  • Are your insurance contracts profitable?
  • Are your fees competitive?
  • Are your receivables up to date?

Awards and Affiliations

Forbes Names SVA as 2021 America's Best Accounting Firms
sva-certified-public-accountant-affiliation-accountingtoday-top100-firms-2021
sva-certified-public-accountant-affiliation-inside-public-accounting-top-100-firms-2020
sva-certified-public-accountant-affiliation-inside-public-accounting-best-of-the-best-firms-2020
sva-certified-public-accountant-affiliation-wicpa
sva-certified-public-accountant-affiliation-great-place-to-work-2021
sva-certified-public-accountant-affiliation-m-power-business-champion-program
sva-certified-public-accountant-affiliation-ib-executive-choice-award-2020-winner
sva-certified-public-accountant-affiliation-aicpa
sva-certified-public-accountant-affiliation-aicap-ebpaqc-member

Locations

Madison, WI
1221 John Q Hammons Dr, Suite 100
Madison, WI 53717
(608) 831-8181

Milwaukee, WI
18650 W. Corporate Drive, Suite 200
Brookfield, WI 53045
(262) 641-6888

Colorado Springs, CO
PO BOX 62786
Colorado Springs, CO 80962
(719) 413-5551

Contact

(888) 574-4782
info@SVAaccountants.com
BizTips

Are you in the know on the latest business trends, tips, strategies, and tax implications? SVA’s Biz Tips are quick reads on timely information sent to you as soon as they are published.

Connect With Us

Copyright © 2021 SVA Certified Public Accountants