CPA Services for Physicians and Healthcare Providers

As a physician, you have a lot on your plate besides providing stellar care for your valued patients. An important aspect of your annual responsibilities includes navigating complex tax and accounting regulations, which can be a time-consuming and stressful experience. Fortunately, you are not in this alone! There are CPA services that can help make the process easier and ensure that your financial obligations are taken care of with accuracy and efficiency. It’s vital to find a CPA who can provide comprehensive services tailored to the unique needs of your practice. At Watkins, we provide you with a full suite of CPA services, enabling you to focus on what you do best: provide excellent patient care. Let’s take a closer look at what CPA services are available to healthcare professionals and how partnering with our team at Watkins can enhance your business.

Medical Practice Accounting Services

Watkins provides comprehensive financial services for medical professionals. Most importantly, we understand that physicians have unique needs when it comes to finances and we customize our services accordingly. We are well-versed in the challenges you face with regulatory compliance issues, insurance reimbursement and billing, various income streams, cash flow management, overhead and medication costs, and patient collection procedures, to name a few. Our team strives to provide personalized service tailored specifically for each individual client’s needs so that you feel communicated with and confident in our expertise at all times. Our primary goal is to ensure that your financial processes run smoothly while maximizing your profit and minimizing any potential risk.

Some of the CPA services for health care professionals we provide include: 

  • Budgets and Forecasts: Your Watkins CPA will assist you with budget-setting, cash flow management, and forecasting for planning purposes.
  • Tax Planning and Advising: With our tax planning services and advising services, we help you identify and implement tax strategies relevant to your unique situation.
  • Financial Reviews and Compilations: We provide full reporting to assist you in making informed decisions throughout our partnership. 
  • Risk Management: With extensive experience in this area, we strive to help you analyze potential risks, minimize those risks, and support you in managing and monitoring risks that exist.
  • Asset Management: We work with you to maximize your organizational assets through proper planning, reconciliation, budgeting, and reporting.
  • Payroll: We handle your bookkeeping and accounting, including payroll management.
  • Employee Benefits Management: We recognize the importance of a happy employee, and to that end, we assist you in all employee benefits management, including profit sharing, insurance, PTO, retirement, absences, and more! 

Medical Professionals We Serve

If you’re looking for reliable tax preparation or general accounting assistance as a physician or other medical professional, then look no further than Watkins! Our experienced team of CPAs offers comprehensive financial services tailored specifically for the healthcare industry with the goal of building profits and maximizing returns. We are proud to provide our services to a range of healthcare providers in various settings, including private practices, hospitals, care facilities, community health centers, and more! Contact us today for a free consultation; you’ll gain a financial partner who is right alongside you, moving your business toward financial sustainability and success!