Healthcare business owners face unique challenges when it comes to keeping their businesses healthy. Cash flow can be difficult to predict, insurance carriers impose complex and frequently changing reimbursement requirements, and schedules are subject to last-minute cancellations and no-shows.

In the face of so much that is uncontrollable, financial forecasting can feel more like guesswork. A growing practice can be short-staffed for months and then lose a lucrative line of business to an insurance rule change just as they’ve started adding staff.

It’s a scenario for which basic accounting and tax support are not enough to ensure growth and success. Making the right business decisions at the right time takes financial clarity and a strategic approach. You need reliable, up-to-date numbers that can provide visibility into profitability, opportunities and obstacles and provide insight into key questions:

  • Has your business outgrown your staffing level?
  • Is it the right time to add a new location or service?
  • Are you taking advantage of the right tax strategies to ensure you are not paying too much?
Dentist working

Partnering with Kirsch CPA Group will provide you with the answers you need to grow your business, minimize your tax burden and make confident decisions. Since 1991, we’ve been helping dentists, doctors, veterinarians, mental health providers and more grow their businesses across Cincinnati, Dayton and beyond.

Working with Kirsch is like having a fractional CFO and tax expert providing the accounting support and reporting that you need day-to-day as well as helping you to overcome bigger challenges that arise over time.

Holistic Accounting Benefits for Healthcare Businesses

  • Effective Financial and Cash Flow Management
  • Improved position for Access to Funding
  • Optimized Tax Strategy
  • Increased Profitability and Effective Processes
  • A Business that is Worth More Money

CPA Services for Healthcare Practices

  • Ongoing bookkeeping and accounting
  • Cash flow management
  • Financial statements
  • Month-end close package
  • Key Performance Indicator Analysis: Revenue per provider/per patient
  • Optimizing chart of accounts

The Kirsch Healthcare Services Team

Accounting & Financial Support Throughout Your Business Lifecycle

Kirsch Healthcare Business Experience

  • Dentists
  • Orthodontists
  • Endodontists
  • Doctors
  • Mental health providers
  • Veterinarians
  • And more

Healthcare service businesses face unique challenges and decisions as they progress through each stage of the business lifecycle. From humble beginnings and the work of building a practice to growing revenues and profitability, to an eventual exit, business owners face complex decisions. The right accounting and financial partner can create the clarity and confidence you need to keep moving forward. Here is how Kirsch CPA Group provides this support throughout the lifecycle of your business.

Growing Your Business & Outgrowing Your
Accounting System

As you grow, your business navigates challenges and questions that go beyond day-to-day issues. Preventing a loss in profitability as your business revenues grow is crucial to your success.

It’s important to equip your business with the right systems and team for growth, preparing for the unexpected and minimizing your tax burden. Whether it’s a financial reporting issue or an operational challenge, the Kirsch team will help you solve problems and implement actionable strategies. As your business outgrows its initial accounting services, outsourced accounting and CFO solutions offer the additional support needed to stay profitable, efficient, and tax compliant.

Signs that it’s time to consider next-level accounting help include:

Chronically late information from your internal accounting procedures

Poor visibility into cash flow

Higher than expected tax bills

Healthcare Accounting News

Grow Your Healthcare Business

Contact a member of the Kirsch CPA Group team to learn more about what strategic and holistic accounting services can do for your healthcare business.

Kirsch team

How To Get Started

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Frequently Asked Questions

What accounting services does a medical practice need?

A medical practice typically needs monthly bookkeeping, payroll processing, financial reporting, tax planning and tax preparation. Growing practices may also benefit from cash-flow forecasting, budgeting, outsourced controller services and strategic financial guidance.

How can a dental practice improve profitability and cash flow?

Dental practices can improve profitability by monitoring collections, provider production, staffing costs, supply expenses, insurance reimbursements and overhead. Monthly financial monitoring and reporting can identify issues before they become problems like declining margins, or expenses that are increasing faster than revenue.

What financial metrics should a veterinary practice track?

Veterinary practices should monitor gross profit, payroll as a percentage of revenue, inventory and medication costs, average transaction value, accounts receivable and operating cash flow. Reviewing profitability by provider, service line and location can help identify pricing issues, staffing inefficiencies and opportunities to improve the financial performance and long-term value of the practice.

How should a mental health practice manage provider compensation, payroll and taxes?

Mental health practices need clear systems for tracking provider revenue, compensation, payroll taxes, benefits and operating expenses. Then evaluate the compensation structure depending on whether providers are employees or independent contractors, how insurance reimbursements are collected and how administrative costs are allocated.

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