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Healthcare Professionals

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Smith Elliott Kearns & Company, LLC has over 50 years of experience offering financial consulting services for the healthcare industry. Our in-depth knowledge of the industry and its unique challenges give us an opportunity to offer targeted services to our healthcare clients. Our specialized accounting and consulting services include:

  • New practices/new physicians
  • Practice startup assistance
  • Cost segregation study
  • Financial model of cash needs
  • Buy/sell agreements
  • Income distribution formulas
  • Entity selection and consulting
  • Fee schedule development
  • Budgeting for financing and to ensure appropriate capitalization
  • Employment agreements
  • Non-compete provisions

Ancillary Service Development

  • Review of opportunities for ancillary services/departments
  • Accounting and reporting revisions for ancillary divisions
  • Cost/benefit analysis of proposed ancillary services
  • Development of income distribution methodology for ancillary revenues

Compensation/Benefits

  • Design and implementation of incentive compensation programs
  • Analysis of staff levels and responsibilities to propose recommendations for optimizing payroll costs
  • Design and administration of employee benefit programs

Revenue Optimization/Cost Containment

  • Practice management and operations support
    • Assistance with set-up and recruiting
    • Practice performance reviews
    • Workflow improvements
  • Billing and collections review
  • Financial and statistical analysis, including benchmarking for industry/specialty comparisons
  • Fee schedule analysis
  • Analysis of practice costs, including comparison of practice expenses to industry averages

Compliance Consulting/Fraud Prevention

  • Assistance with compliance programs (HIPPA)
  • Internal control review
  • Fraud examination
  • Litigation support services

Wealth Maximization

  • Practice valuation
  • Education funding planning
  • Retirement planning
  • Estate and gift planning

HOW OUR CLIENTS BENEFIT

  • Financial expertise from advisors who are well-versed in tax law
  • Information you can understand through reports tailored to your information needs
  • Affiliations with national associations, including the Medical Group Management Association (MGMA), Healthcare Financial Management Association (HFMA), and Allinial Global’s Healthcare Services Community of Practice

Practice Strategies Newsletter  

HEALTHCARE PROFESSIONALS TEAM LEADERS

Joel A. Flinchbaugh, CPA, Carlisle
John R. Schnitzer, CPA, Hanover
Kristi M. Glass, CPA, Hagerstown 

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