Healthcare Accounting — Financial Wellness for Medical Practices
Running a healthcare practice demands more than clinical expertise—it requires sound financial management, regulatory compliance, and efficient operations. Riley & Company supports medical doctors, physical therapists, chiropractors, pharmacies, long-term care facilities, and other healthcare providers by delivering tailored accounting and tax solutions to improve cash flow, reduce costs, and support practice growth.
Why Choose Us for Healthcare Accounting?
In-Depth Industry Insight
We understand the unique financial, regulatory, and operational challenges faced by medical and healthcare professionals across a variety of specialties.
Customized for Healthcare Entities
From entity selection for new practices to compliance-ready reporting, our services are designed to support both solo practitioners and group facilities.
Reliable Tax & Audit Expertise
We ensure your practice meets evolving tax laws, audit standards, and industry-specific reporting requirements.
Strategic Growth Planning
We help identify cost-saving opportunities, improve budgeting accuracy, and guide you through expansions, mergers, or transitions.
Payroll & Cash Flow Control
We provide accurate payroll processing and budgeting guidance that support efficient operations and staff retention.
How We Support Healthcare Clients
Practice Startup & Entity Structuring
We assist new healthcare businesses with selecting the right legal entity, building foundational accounting systems, and setting up compliant payroll.
Tax Planning & Preparation
From deductions on medical equipment to planning around Medicare/Medicaid income, we optimize your tax strategy and manage all filings.
Financial Reporting & Analysis
We deliver monthly and quarterly financials, including profit and loss statements, helping you monitor performance and make data-driven decisions.
Cash Flow Management & Budgeting
Through in-depth analysis, we help you understand and forecast your cash flow—critical for practices with seasonal patient volume or insurance delays.
Audit, Compilation, and Review Services
We perform assurance services to meet regulatory, investor, or bank requirements while supporting trust and transparency.
Let Riley & Company take care of your healthcare practice’s accounting so you can focus on what matters most—your patients.
Our Proven Process
Initial Consultation & Industry Evaluation
We assess your current practice structure, revenue sources, compliance status, and financial goals.
Tailored Financial Roadmap
We develop a service plan customized to your specialty, whether you’re scaling a clinic or managing a solo practice.
Implementation & Streamlining
Our team sets up efficient reporting, billing, and payroll systems to reduce administrative burdens.
Ongoing Financial Oversight
We deliver timely reporting, compliance updates, and strategic advice to help your practice stay healthy and profitable.
Specialized Financial Care for Healthcare Providers
With complex billing systems, ever-changing tax laws, and rising operational costs, healthcare practices need expert financial guidance. Riley & Company brings the accounting clarity and strategy your practice needs to thrive.
FAQ
Frequently Asked Questions
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Do you only work with doctors?
No. We support a wide range of healthcare professionals, including physical therapists, pharmacists, chiropractors, optometrists, and long-term care facilities.
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Can you help set up a new healthcare practice?
Yes. We guide new practice owners through entity selection, system setup, and early-stage financial planning.
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What kind of tax strategies do you recommend for healthcare providers?
We implement tax-saving strategies like section 179 deductions, retirement plan contributions, and expense tracking tailored to medical operations.
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Do you offer monthly financial statements?
Absolutely. We provide accurate monthly and quarterly reporting, including profit and loss statements and cash flow analysis.
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How do you help with payroll and budgeting?
We handle payroll processing, tax filings, and help establish reliable budgets to control costs and optimize resource allocation.