Accounting & Tax Services for Healthcare Professionals
Healthcare professionals face a distinctive set of financial challenges—from complex compensation arrangements and partnership buy-ins to the demands of managing a growing practice while meeting evolving regulatory requirements. With more than 50 years of experience, SEK's healthcare professionals team provides expert guidance and tailored solutions to strengthen the financial health of your practice.
Strengthen the Financial Health of Your Practice
TAX PLANNING FOR PHYSICIANS
Medical professionals often have complex tax situations involving multiple income streams, self-employment income, employment contracts, and significant deferred compensation. Our tax advisors help physicians and other healthcare providers develop proactive strategies to minimize their tax burden and build long-term wealth.
PRACTICE ENTITY STRUCTURE
The structure of your medical practice has significant implications for taxation, liability, and retirement planning. We help healthcare professionals evaluate S-corporations, partnerships, and professional corporations to identify the optimal structure for their situation
COMPENSATION & PARTNERSHIP AGREEMENTS
Whether you're entering a new practice, negotiating a buy-in, or structuring a partnership agreement, SEK provides the accounting and advisory support to ensure you understand the financial implications of every arrangement.
PRACTICE TRANSITIONS
Buying into an existing practice or transitioning to retirement are among the most financially significant decisions a healthcare professional will make. We provide business valuations, tax planning, and advisory support throughout the process.
Comprehensive Services for Healthcare Professionals
In addition to the services above, we proudly offer the following services, customized to the needs of Healthcare Professionals:
Accounting & Consulting Services
- New practice/new physician support
- Practice startup assistance
- Cost segregation studies
- Financial modeling for cash flow
- Income distribution formulas
- Fee schedule development
- Budgeting and capitalization planning
- Employment agreements and non-compete provisions
Ancillary Service Development
- Identification and development of ancillary service opportunities
- Revisions to accounting and reporting for ancillary divisions
- Cost/benefit analysis of ancillary services
- Income distribution strategies for ancillary revenues
Compensation & Benefits
- Design and implementation of incentive compensation programs
- Payroll cost optimization through staff analysis
- Employee benefit plan design and administration
Revenue Optimization & Cost Containment
- Practice management and operational support, including setup assistance, key recruiting, practice performance reviews, workflow improvements
- Billing and collections analysis
- Financial and statistical benchmarking
- Fee schedule and cost analysis, with industry comparisons
Compliance Consulting & Fraud Prevention
- Compliance program assistance (including HIPAA)
- Internal control reviews
- Fraud examination services
- Litigation support
Wealth Maximization
- Practice valuation
- Education funding planning
- Succession planning
- Estate and gift planning
WHY CHOOSE SEK?
At SEK, we are committed to supporting your practice’s success in the evolving healthcare industry. Our expert guidance and tailored solutions are designed to provide operational confidence and strong financial health. Contact us today to learn more.
