Healthcare

Healthcare is a competitive industry with start-up companies, new technologies, and government/insurance regulations reshaping the landscape every day. As one of the largest industries in the world, the healthcare sector is under constant pressure to reduce costs and streamline the delivery of care. We understand that healthcare providers and practitioners would prefer to focus on their practice rather than spend time concerned about reimbursement, accounting, taxes, compliance, and other business office responsibilities. The healthcare industry involves many complex accounting transactions, presenting unique and evolving challenges to all industry participants. Strategic planning and execution are critical to navigating these challenges and realizing long-term success.

RGCO understands healthcare from our many years of advising providers on routine and complex matters. We have worked with:

  • Physician Groups, including Primary Care and Specialists: Free-Standing & Hospital-Based Practices
  • Ambulatory Surgery Centers
  • Multi-Specialty Clinics
  • Home-Care Companies, including HHAs and DME Providers
  • Assisted Living Facilities
  • Revenue-Cycle Technology Businesses
  • Federally-Qualified Community Health Centers (FQHCs) 

 

Keeping up with industry insights enables us to partner with our clients and advise them on the challenges presented by fragmented reimbursement systems and a long-discussed transition to quality outcome-based compensation systems from the current productivity model. Our specialized healthcare team frequently consults on joint ventures, physician compensation plans, maximizing practice cash flow, mergers and acquisitions, business valuations, non-qualified deferred compensation plans, and process improvements.

Services we provide the Healthcare industry:

  • Accounting ServicesCompany activities such as bookkeeping, financial statement preparation, budgeting, and tax preparation.
  • Payroll ServicesImplementation of healthcare company payroll systems including controls and payroll tax return preparation.
  • QuickBooks ConsultingStrategic advice on how to best utilize QuickBooks for physician offices or group entities.
  • Audit and AssuranceAudit and review services related to the financial performance of healthcare groups and companies, typically required by lending institutions or joint venture partners.
  • Agreed-Upon ProceduresDevelopment of a customized set of procedures, typically designed with assistance from the healthcare company to investigate concerns within the business office.
  • Employee Benefit Plan (EBP) Audits —Performance of Department of Labor ERISA Audits of 401(k)/403(b)/401(a) retirement plans in accordance with governing regulations.
  • Business Succession Planning —Valuation and advisory services provided to determine the most advantageous path for the healthcare company’s succession of business management and ownership, while maximizing its value to the owners.
  • Business Transactions —Advisory services to identify suitable buyers or sellers for a healthcare group or company; conducting feasibility analyses; valuing the transaction; conducting due diligence; providing input on deal/tax structure and related implications; post-transaction integration; and pre-sale planning.
  • Employee Stock Ownership Plan (ESOP) Services —Assistance with implementing healthcare group ESOPs along with providing fairness opinions, conducting yearly compliance valuations and audits, procuring financing, and tax planning activities.
  • Tax Services —Planning, preparing, and submission of tax returns including business entity selection, estate and trust taxes, estate planning, international taxation, IRS representation, retirement planning, and state/local taxes.

If you would like more information about how RGCO services our clients in the healthcare industry, please contact a member of our Healthcare Committee:

Contact our Healthcare committee:

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