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At Invensis, we have more than 24 years of experience streamlining financial management for medical practitioners. We handle all aspects of your financial needs, from tracking and monitoring day-to-day expenses to managing payroll and financial reporting. Whether you are a solo practitioner or part of a large medical group, our customized accounting services for doctors ensure your financial operations run smoothly.
Our team uses the latest accounting software, such as QuickBooks, FreshBooks, Xero, PracticeSuite, etc., to ensure accuracy and accelerate your financial processes. By outsourcing your accounting needs to Invensis, you gain access to the best practices that ensure compliance with the latest healthcare regulations, reducing the risk of costly errors and audits.
As a seasoned provider of accounting and bookkeeping services for medical practices, we assist doctors/practitioners in achieving financial management in the following ways:
- Maintaining distinct accounts for personal and clinic finances to simplify tracking and reporting.
- Using specialized accounting software for medical practices to automate financial tasks, track reimbursements, manage expenses, and generate financial reports efficiently.
- Integrating EHR systems with accounting software to synchronize patient billing and payment data to improve accuracy and reduce manual entry.
- Systematically categorizing financial transactions into relevant groups such as rent, utilities, medical equipment, supplies, and marketing for clearer expense tracking and reporting.
- Setting up advanced billing systems to handle patient invoicing, insurance claims, and collections, ensuring timely and accurate revenue management.
- Conducting periodic reconciliation of bank statements, credit card statements, and practice accounts to verify accuracy and identify discrepancies early.
- Monitoring essential metrics such as revenue per patient, overhead costs, and profit margins to guide financial decision-making and operational adjustments.
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