Healthcare accounting · Medical groups

Healthcare accounting that gives your medical group a dependable starting point.

A consistent monthly close connects bank activity, payroll and accounting records so practice leaders can review the financial picture with greater confidence.

01 · Recognize the need

When accounting support helps

Accounting support is a practical starting point when reconciliations are overdue, balance-sheet accounts are difficult to explain or financial statements arrive without a clear review process.

A growing practice may also need a more consistent chart of accounts as providers, locations and systems change. The goal is a repeatable process with supporting records and visible exceptions.

A starting-point checklist
  • Unreconciled accountsDo bank and credit-card balances have supporting reconciliations?
  • Unclear balancesCan your team explain what sits in balance-sheet accounts?
  • Delayed reportingIs there an agreed close process and a clear list of unresolved items?

02 · Understand the deliverable

What the monthly work produces

An illustrative reporting pack
1. Supporting reconciliationsBank, credit-card and agreed balance-sheet accounts.
2. Close schedules and exceptionsPayroll support, balance explanations and items needing review.
3. Financial statementsThe agreed statements, reporting basis and remaining limitations.

Conceptual deliverables, not a client report. Contents are agreed for your engagement.

Reconcile the accounts

Review bank, credit-card and agreed balance-sheet accounts against supporting information. Identify differences that need investigation rather than carrying them forward silently.

Connect payroll and the books

Reconcile payroll reports, cash movements and related liabilities within the agreed scope. Keep compensation classifications consistent with the reporting structure.

Prepare useful financial statements

Produce the agreed financial statements and supporting schedules. Make the reporting basis and unresolved items clear before leadership relies on the results.

03 · Know your role

From records to a reviewed close

A clear sequence connects source information, agreed responsibilities and the reporting package.

  1. Collect agreed reports

    Use a consistent reporting period and identify missing information.

  2. Reconcile and classify

    Connect transactions and balances to supporting records.

  3. Review exceptions

    Explain differences, document proposed corrections and obtain approvals.

  4. Prepare the package

    Deliver the agreed statements and note remaining limitations.

Your team’s role: provide the agreed records and access, explain unfamiliar transactions and approve matters assigned to practice leadership. We agree responsibilities and close timing around your systems and available information.

04 · Define the engagement

What determines your scope

The scope may include chart-of-accounts organization, bank and credit-card reconciliation, payroll reconciliation, financial-statement preparation and the coordination needed to complete the close.

Entity structure, systems and the condition of historical records affect what is required. Cleanup should be identified explicitly when prior periods are unreliable; an ongoing close calendar should not hide a backlog of unresolved balances.

Your monthly close scope
Entities
The businesses and locations included.
Accounts
Bank, credit-card and balance-sheet accounts to review.
Source systems
Accounting, payroll and supporting reports.
Reporting needs
Agreed statements, schedules and reporting structure.

Questions practice leaders ask

Is healthcare accounting the same as medical billing?

No. Medical billing manages claims and related collection activity. Accounting records financial activity and balances. Revenue reconciliation helps connect information between billing reports, bank deposits and the general ledger.

Can accounting support include location reporting?

The scope can be designed around available location data and an agreed reporting structure. Meaningful comparisons require consistent coding and a documented approach to shared costs.

What should we discuss first?

Describe the current close, the systems in use, the number of entities and any accounts you cannot reconcile. A consultation can identify whether routine accounting or cleanup is the more useful starting point.

Discuss your accounting priorities

Bring your current close process and reporting questions to a complimentary 30-minute consultation.

Discuss Accounting Support