Physician and Dental Practices
Withum’s healthcare specialists are dedicated to providing the highest quality accounting, tax and practice management services to their physician and dental practice clients. Our mission is to help you provide a financially strong future for you, your practice, and your family.
Physician and Dental Practices Services
Tax and Audit
Services
- Preparation of business and personal tax returns
- Tax and financial planning
- Financial statement audits, review and compilations
- Virtual CFO/Outsourced CFO
- IRS audit representation
- Outsourced Accounting Systems and Services (OASyS)
Business Consulting Services
- Partner succession planning
- Practice mergers & acquisitions
- Real estate acquisitions
- Fair market value opinions
- Hospital & joint venture assessments
- Cybersecurity
- Due diligence, financial feasibility studies and operational review services
Practice Management Services
- Budgeting and cash flow management
- Benchmarking and best practices
- Data collection
- Billing and collections procedures
- Stark law assistance
- HIPAA compliance
- Employment agreements
- Withum Wealth Management
- Procedural efficiency
- Medicare and insurance billing
- Evaluation of medical record coding and documentation to substantiate eligible reimbursement
- Structuring compensation programs and buy-in calculations for new physicians/dentists entering practice groups
- Analysis of contracts, including capitated and risk-sharing
Physician Practice Manager Tool
Demo Withum’s Physician Practice Manager Tool to see how it aggregates disparate billing systems into one platform.
Ambulatory Surgery Centers
Owning an Ambulatory Surgery Center (ASC) can be a rewarding and profitable experience, but it can also pose unique challenges. Withum’s experienced healthcare professionals are dedicated to providing ambulatory surgery center development, operation and management services that allow ASCs to provide their patients with the best possible care.
Services Specific to Ambulatory Surgery Centers:
- Work with your legal counsel to assist in the planning process for your surgery center
- Assist in the preparation of any necessary applications for certificates of need
- Assist you in the development of facility fee schedules
- Conduct financial statement analyses to project the financial results of the startup and operation of your proposed or existing facility
- Preparation of all required financial statements and federal and state tax returns
- Offer complete accounts receivable management
- Coordinate rejected claims processing
- Evaluate quality and risk management
- Assist with a cost per procedure analysis
- Review your operational insurance needs
- Assist in preparing an exit strategy
Contact Us
For more information or to discuss your business needs, please connect with a member of our team.
Leadership
Insights
Navigating Employment Status in Physician Practices: Are They an Employee or an Independent Contractor?
In many physician practices, it has been common practice to contract an outside healthcare professional to provide services at a per-procedure rate. Did you know that those healthcare professionals may […]
Fair Labor Standards Act: Impact of Overtime Rule Changes for Healthcare Employees
After many years of proposed legislation and revisions, the Biden Administration passed the Fair Labor Standards Act (FLSA), effective July 1, 2024. This new regulation increases the minimum salary amount […]
Physician Compensation: How to Retain Talent Amid Budgetary Constraints
Physician compensation is a complex topic that must consider fair market value (to comply with regulatory standards for the Anti-Kickback Statute and Stark Law), budgetary and financial constraints, and the […]