A month-end close checklist for medical practices
Review cash, payroll and balances, then identify what still needs follow-up.
Read articlePractical financial guidance for medical-practice leaders.
Find articles on monthly accounting, reporting, cash flow and choosing the support your practice needs.
Accounting & Close
Reporting & Performance
Cash Flow & Growth
Choosing Support
Find your next answer.
Explore 16 practical guides by topic to find the next answer for your practice.
16 articles
Medical-practice books behind? How to define a cleanup project
Define the periods, priorities and handover for overdue books.
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Medical Group Revenue Reconciliation: From Billing Reports to the Bank
Connect billing reports, bank deposits and accounting records, with differences explained.
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Provider-profitability reporting: what to compare and what to explain
Connect provider comparisons with the periods, costs and context behind them.
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How to compare profitability across medical-practice locations
Read location results with direct costs and shared overhead clearly separated.
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7 Financial KPIs Every Medical Group Should Review Monthly
Review seven financial measures with clear definitions, sources and reporting periods.
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How to build a 13-week cash-flow forecast for a medical practice
Bring expected receipts and payments into a weekly cash view.
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Financial questions to answer before opening a second medical-practice location
Review opening costs, cash needs and financial assumptions before adding a location.
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When Does a Medical Practice Need Controller or Fractional CFO Support?
Understand how accounting, controller oversight and CFO support address different needs.
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How payer mix affects the way you read your medical practice’s financial results
Interpret payer-level activity and receipts with consistent definitions and periods.
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How to choose a financial-support partner for your medical practice
Use practical questions to assess reporting, responsibilities and the working relationship.
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What determines the scope and cost of outsourced accounting for a medical practice?
Understand the records, complexity and deliverables that shape an accounting engagement.
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How to interpret Days in A/R for a medical group
Define the calculation, follow a worked example and investigate changes before comparing results.
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Signs Your Medical Practice Has Outgrown a Part-Time Bookkeeper
Recognize when growing complexity calls for broader financial support.
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Provider Compensation Models: Collections vs. Contribution
Compare collections and contribution with direct costs and overhead visible.
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How to Read Your Medical Practice's P&L
Read revenue, direct costs, overhead and trends in your practice’s financial results.
Read articleA sample financial review
Why could a practice report a profit while its bank balance falls?
Reported profit
Income and expenses under the reporting basis.
Change in cash
Money received and paid during the period.
Collection and payment timingEquipment purchasesLoan principalOwner distributions
1. Review the records
Read a cash-movement explanation alongside the income statement. Identify the reporting basis and period, then separate operating receipts and payments, equipment purchases, loan principal and owner distributions. Connect opening and closing cash to reconciled balances.
2. Explain the difference
Profit and the change in cash measure different things. Collection and payment timing can matter, depending on the accounting basis. Equipment purchases, loan principal and distributions can also affect cash differently from current-period profit.
3. Identify the next action
Investigate unexplained movements and review upcoming cash commitments before deciding whether to change spending or distributions.
This illustrates a review approach. It uses no client data or results and does not establish any practice's financial position.
FREE TOOL
Monthly KPI scorecard for medical groups
The seven measures from our KPI guide in one spreadsheet, with a formula, source and owner column for each and space for 12 months. Opens in Excel or Google Sheets.
No email required. Pair it with the 7 KPIs guide.
- Net collection rate
- Days in A/R and A/R over 90 days
- Revenue and collections by provider
- Operating margin
- Compensation as % of revenue
- Cash on hand and 13-week forecast