Healthcare Accounting Services
In the complex and rapidly evolving healthcare industry, financial clarity, data security, and strategic planning are more crucial than ever. Maxwell Locke & Ritter understands that your success impacts not just your bottom line, but the health and wellbeing of the communities you serve. Together, we can problem-solve the challenges you face so you can focus on your priority – caring for your patients.
Contact UsYour Trusted Partner in Healthcare Accounting Services
Healthcare organizations encounter distinct financial and regulatory challenges, including navigating the complexities of revenue recognition and the impact of third-party payors (insurance, Medicare, and Medicaid) and essential privacy and data security requirements. In addition, healthcare organizations are navigating staffing shortages, operational inefficiencies, increasing expenses, and technological advances. At ML&R, we don’t just offer services, we build strategic financial relationships. Our approach is to blend extensive expertise with a genuine desire to see your organization thrive. Our dedicated team is here to guide you toward your goals, adapting alongside you as technology evolves and operational demands shift.
ML&R is Your Ally in Achieving Financial Strength
At Maxwell Locke & Ritter, we are dedicated to forging enduring partnerships with our healthcare clients. Our expertise is grounded in a deep understanding of the ever-evolving regulatory and financial landscape unique to the healthcare industry. We recognize the importance of resource optimization and cost reduction in your operations. By integrating our knowledge of revenue cycle management into your finance team’s practices, we ensure a collaborative and insightful engagement throughout our partnership.
Our experienced healthcare accounting services team provides business solutions that address the specific needs of these healthcare organizations:
- Physicians and Medical Groups: Private and group physician practices, dental practices, eyecare centers, and other medical practices
- Senior Housing and Related Services: Nursing homes, assisted care facilities, home health care, independent living, continuing care retirement communities (CCRCs)
- Outpatient Services: Clinical labs and laboratory services, physical and occupational therapy centers, other outpatient services
- Other Healthcare: Ambulance services, drug treatment and rehabilitation facilities
Targeted Services for Healthcare Organizations
- Financial Statement Assurance & Advisory
Audit, other assurance, and advisory services provided by experienced CPAs with a focus on efficiency, providing a critical analysis of your operations and strengthening your system of internal controls.
- Assurance
- Audit
- Review
- Examination
- Advisory & Other
- Agreed-Upon Procedures
- Financial Statement Compilation
- Financial Statement Preparation
- GAAP Advisory, including Revenue Recognition under ASC 606
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- Assurance
- Tax Compliance & Advisory
Expert tax advisory and compliance services aimed at maximizing available incentives and ensuring compliance with tax regulations specific to healthcare organizations.
- Federal, State, and Local Income Tax Planning and Compliance
- Entity Classification and Structuring
- Financial Accounting Advisory
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- Risk Assurance & Advisory
Healthcare organizations are subject to increasing and ever-changing regulatory and compliance needs. Our agile team can meet the specific timing needs of healthcare organizations in today’s market. ML&R’s risk assurance & advisory services help you achieve a more secure IT environment to decrease the risk of costly data breaches.
- HIPAA Risk Assessment & Gap Analysis
- HITRUST Readiness & Ongoing Support
- SOC Readiness, SOC 2, and SOC 2 + HIPAA
- Internal Controls & IT Assessment
- Sarbanes-Oxley (“SOX”) Readiness & Compliance
- SOX Program Optimization
- Internal Audit Outsourcing & Co-sourcing
- Enterprise Risk Management
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Empower Your Healthcare Mission with Financial Clarity
In an industry as vital as healthcare, every financial decision counts and we are committed to being a part of your journey, every step of the way. Let Maxwell Locke & Ritter’s healthcare accounting services team guide you through financial challenges, enabling you to focus on what matters most – delivering exceptional healthcare services. Contact us today to explore how we can support your mission.
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